Ritchie Bros. Holds Record-Breaking Florida Auctions

📅   Wed February 29, 2012 - National Edition
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(L-R): Art Bayley, 1st Source Bank; Dave Ritchie, founder of Ritchie Bros. Auctioneers; and Robby Udelson PowerTrac Machinery meet up for a quick photo in Construction Equipment Guide.
(L-R): Art Bayley, 1st Source Bank; Dave Ritchie, founder of Ritchie Bros. Auctioneers; and Robby Udelson PowerTrac Machinery meet up for a quick photo in Construction Equipment Guide.
(L-R): Art Bayley, 1st Source Bank; Dave Ritchie, founder of Ritchie Bros. Auctioneers; and Robby Udelson PowerTrac Machinery meet up for a quick photo in Construction Equipment Guide. This HyPac traffic roller interested Jerry Randall of Progressive Contractor in Daytona Beach, Fla. Ronald Miller, president of Trekker Tractor, the Case dealer in Florida, was out looking over some of the excavators for sale. Steven Moody, M. D. Moody & Sons, Jacksonville, Fla., looks over the cranes up for bid. Jim Spano, president of Spano Paving and Excavation, Syracuse, N.Y., shops a couple of excavators. If the price is right, this LBX 210 may be going home with him. Jamie Wurthman, president of UCM Inc., Mulberry, Fla., waits for his equipment to come across the line. Keith Summerlin (L), Ring Power Crane used sales manager, and Dave Glass, vice president Ring Power Crane, enjoy the great weather while watching the cranes being sold. For those interested in older machines this 1978 Caterpillar D9H went for $37,000. Ready to look over the significantly high number of equipment available at the Ritchie Bros. sale (L-R) are David Mehrtens, used equipment manager, and Doug Mehner, used equipment sales, both of Road Builders Machinery and Supply Co.; Jay Germann, used eq Watching what the dozers were going for are Jamal Saleh (L), All City Equipment Inc., and Butch Frey of Butch Frey Equipment. Darrel Smith, Jayhawk Equipment, brought his iPad so that he could keep tabs on the second ring during the Ritchie Bros. annual Orlando auction. (L-R): Tim Thomas, used equipment manager of Tractor & Equipment Co.; Timothy Tripas, vice president of operations of Komatsu Financial; and Steve McCondichie, vice president and general manager of Georgia Tractor & Equipment Co., discuss what they think Brian Durfee, corporate used equipment manager, Nortrax, came to see what prices the John Deere excavators would bring. Loaded up and ready to roll. This Caterpillar 980G is headed to its new home in Brownsville, Texas. Aerial lifts of all makes and colors line the sky at Ritchie Bros.’ annual auction in Orlando, Fla. More than 500 (yes, that’s accurate!) hydraulic excavators were auctioned off. The hydraulic and lattice boom cranes drew hundreds of bidders. The cranes were sold on the third day of the sale. A Ritchie Bros. employee videos the auction with the help of an aerial lift. Fred Vilsmeier (L) and John Korrey, both of Ritchie Bros., ready themselves for their turn to call bids. Michel Majean (L) and Michel Morin take in the bidding while atop a Komatsu hydraulic excavator. Another sunny day in Florida is bound to put a smile on your face. (L-R): Grason Jones and Joe Villa, both of Ransome CAT, Bensalem, Pa.; and Marcel LeHouillier of Marcel Equipment Limited, Ontario, Canada, prove that. Ritchie Bros.’ recent auctions in Florida pulled in total gross auction proceeds (in-person and online) of more than $203 million. Larry Hilton (L) and Mark Kelso, both of AIS Construction Equipment Corp., keep tabs on the Komatsu wheel loaders. More than 8,670 registered bidders from 88 countries, including all 50 states, all Canadian provinces and two territories, participated both in-person and online. Ritchie Bros. held the world’s largest heavy equipment auction in Orlando, Fla., recently and, in the process, broke multiple company records. Strong crane prices reflected the improving world economy. More than 500 excavators formed a line approximately a mile-and-a half long. Excavator bidding keeps the ring men on their toes as they signal bids to the auctioneers. Paul Magoon (L) of Milton CAT and Bryn Smith of The N.I.C.E. Company traveled all the way from eastern Massachusetts to observe excavator prices. Mike Pearle of Equipment Mart of New York has been attending the Florida auctions for more than 30 years. With a Caterpillar 345CL are Timothy Martin (L) of Wakarusa Heavy Equipment in North Central Indiana and Chris Taylor of Chris Taylor Equipment LLC in Kirksville, Mo. Bruce Knapp (R), used equipment manager of McClung-Logan, is accompanied by his son, Jeffrey Knapp, during day four of the six-day Ritchie Bros. auction. Hundreds of skid steers line up to cross the ramp. Bob Seppa (L), equipment asset manager of FABCO Equipment Inc., and Luke Mueller, used equipment manager of Patten Industries, discusses the Caterpillar iron at the auction. Kiosks are conveniently located at several locations throughout the sales site for bidders to gather information from the Ritchie Bros. web site. The entire sale site offers Internet access for attendees, such as these two prospective bidders, who prefer to monitor the sale from their ipads. The registration area was incessantly busy. To accommodate smaller items and equipment not located onsite, Ritchie Bros. has established a virtual auction area where photos of items are shown on a large screen. Over the road dump trucks are taken across the ramp for bidding. Mike Goffinet (L), Goffinet Equipment Co., and Murf Murphy of Best Tractor Inc. pose for a photo prior to the sale. Caterpillar trucks roll across the ramp during Ritchie Bros.’ auctions in Florida. Iron as far as the eye can see await new owners at the Ritchie Bros. Florida auctions. Tom Scheckel of Scheckel Construction came all the way from Iowa to find a D6 for his grading business. Jim Langer needs to find either a Caterpillar D5 or a John Deere 650 to take back to Wisconsin.

Ritchie Bros. Auctioneers held the world’s largest heavy equipment auction in Orlando, Fla., Feb. 13 to 18 and, in the process, broke multiple company records.

New records were set for gross auction proceeds ($203 million), number of lots sold (more than 10,000), total number of registered bidders (8,670), number of sellers (830), online gross auction proceeds (more than $47 million) and number of online bidders (4,070). Every item in the six-day auction was sold to the highest bidder — regardless of price — without minimum bids or reserve prices.

“In more than 50 years of business, we have never held or seen an equipment auction of this magnitude, and we thank our customers and our staff for being part of this historic week,” said Peter Blake, Ritchie Bros. CEO. “We saw multiple auction records broken during this event and, as with all our auctions, it was a truly global marketplace in Orlando. Bidder participation from within Florida and around the world helped sellers achieve true global market value on the sale of their equipment. We begin 2012 confident that we’re providing compelling solutions and value to the world’s builders — our Orlando auction, our third industrial auction of the year, has set the stage for us to continue carrying out our mission.”

More than 8,670 registered bidders from 88 countries, including all 50 states, all Canadian provinces and two territories, participated both in-person and online. More than $160 million (or 79 percent) was sold to buyers located outside the state of Florida and more than $73 million (or 36 percent) was sold to buyers outside the United States. Items were sold for more than 830 sellers from across the United States and around the world, including Jr. Davis Construction Co., a local construction, excavation and roadbuilding company based in Kissimmee, Fla. Jr. Davis Construction Co. sold more than 60 heavy equipment items at the historic Orlando auction, including a selection of articulated dump trucks, wheel loaders, crawler tractors, hydraulic excavators, rollers, mixers, compactors and more. Equipment from Jr. Davis was sold to on-site and online buyers both local and international — some from as far away as Panama and New Zealand.

“We choose Ritchie Bros. to sell our equipment for many reasons, but the main one is that everything that sells is absolute. People that buy our equipment know that there is no interfering of any kind by anyone and this gives them more confidence when they come to the auction,” said Tom Mastera, equipment manager of Jr. Davis Construction Co. “We’re excited to have formed part of this historic auction — if a record like this was going to be set, it had to be done at a Ritchie Bros. auction.”

“We had bidders participate here on-site from nearly every continent in the world,” said Steve Kriebel, regional sales manager, Ritchie Bros. Auctioneers. “The auction theater was very busy and many buying customers were taking advantage of our value-added services, including using our refurbishing and painting, transportation, financing, warranty and insurance services. After all is said and done, we feel we had a successful sale because both our buying and selling customers are pleased.”

Online records also were set at the Orlando auction: more than 4,070 of the registered bidders participated online using the Ritchie Bros. real-time online bidding service available at www.rbauction.com and purchased more than $47 million of equipment. Internet bidders were winner or runner up bidder on 44 percent of the lots available online.

Related: YouTube videos of the 02/2012 Ritchie Bros Orlando Auction:

Ritchie Bros Orlando Auction 02/12 Video #1
Ritchie Bros Orlando Auction 02/12 Video #2
Ritchie Bros Orlando Auction 02/12 Video #3

For more information, please visit www.rbauction.com.