Ritchie Bros. Sells 1,800 Lots at Two-Day Colorado Auction

Mon October 29, 2007 - West Edition
Construction Equipment Guide

The former Ritchie Bros. auction site in Brighton, Colo., was among more than 1,800 lots sold at the unreserved auction at the company’s new permanent facility in Denver (Longmont).

The two-day public auction on Sept. 25 and 26 generated gross auction proceeds of $24 million and attracted more than 2,400 registered bidders from 26 countries, including 43 U.S. states and all 10 Canadian provinces. Close to 700 bidders participated in the auction over the internet using rbauctionBid-Live.

More than $4 million of equipment was sold to eBidders.

“It was a great auction, with strong prices across the board,” said Steve Merich, Ritchie Bros. regional manager. “We had a lot of international bidders, many of them over the internet, and that really helped to bring global market prices for our local consignors. The market for cranes continues to be hot, and all types of trucks did exceptionally well — everything from dump trucks to truck tractors to pickups exceeded our expectations.”

Having outgrown its 36.5-acre Brighton auction site, Ritchie Bros. recently relocated to a new 160-acre auction site in Longmont. The company’s Brighton auction site was sold in the unreserved auction to Ed Vecchiarelli of Brighton, Colorado-based Diesel Service and Supply.

“It was such a pleasurable experience that we are considering using Ritchie Bros. Auctioneers to sell one of our Colorado mountain ranches for us,” said Vecchiarelli. “I was determined to buy the Ritchie Bros. property, because it’s in a great location, close to some other commercial real estate that I own. I’m looking at this as a long-term investment and I’m happy with the price I paid.”

Close to 14,000 items will be sold in 45 industrial and 22 agricultural upcoming Ritchie Bros. unreserved auctions.

For more information, visit www.rbauction.com.

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