Ritchie Bros. Sells More Than $237 Million of Equipment in Six-Day Orlando Auction

Mon March 02, 2020 - National Edition #5
CEG




Ritchie Bros. held its premiere global auction in Orlando, Fla., selling more than 13,500 equipment items and trucks for more than $237 million.

Ritchie Bros. held its premier global auction in Orlando, Fla., selling more than 13,500 equipment items and trucks for more than $237 million. The six-day sale set a new company record for attendees, registering a staggering 18,100 people from 85 countries.

Fifty-three percent of the equipment in the February 17 to 22, 2020, Orlando auction was sold to online buyers and approximately 81 percent was sold to out-of-state buyers, from as far away as Australia, Belgium, China, India, Poland and the United Arab Emirates. Purchases through the company's mobile application were up 104 percent from the same auction in 2019.

"I came here to buy equipment for a $245 million turnpike job we have going in South Florida right now," said Ignacio Halley, Halley Engineering Contractors, "You can't beat the assortment and quality of equipment at Ritchie Bros. Orlando sale. The growth of Ritchie Bros. throughout the years has been astounding, with more and more participation and better and better equipment."

"We are very pleased by the record attendance we saw for our Orlando auction last week, helping us achieve strong pricing on the wide variety of equipment available," said Ann Fandozzi, CEO, Ritchie Bros. "The makeup of this auction was certainly different from last year, with less heavy construction asset — due to high workloads in this industry — and more transportation gear. Utilizing our wealth of data, machine-learning, and in-house expertise to strengthen our customer offering, it's our objective to provide customers with increased insights to help them make more informed decisions on how to market their assets across all Ritchie Bros. channels. Examples of this were seen in our record-breaking Tipton auction and strong Houston event earlier this month, as well as increased participation in our online offerings. We're also seeing great momentum building for our Las Vegas auction held during ConExpo-Con/AGG next month."

A big highlight in the auction was the sale of a 2015 Link-Belt 100-ton crawler crane, which sold for $560,000, she added.

For the first time in Orlando, Ritchie Bros. used its online PriorityBid technology, allowing bidders to place online proxy bids on items ahead of the auction. More than 32,000 PriorityBids were made ahead of the auction and approximately 53 percent of items had a bid ahead of the event. A 2006 Peterbilt 379 sleeper truck tractor had more than 225 PriorityBids and ended up selling for $85,000.

Equipment was sold for more than 1,200 consignors — setting a new Orlando site record. Highlights in the auction included 740-plus truck tractors, more than 30 excavators, 390-plus skid steers, more than 380 compactors, 290-plus wheel loaders, more than 280 dozers, 150-plus articulated dump trucks and more. All items were sold without minimum bids or reserve prices.

"If you're looking to sell something and you're a first-time seller, the staff at Ritchie Bros. is phenomenal," said Jim Prince, Prince Pipeline Integrity, Ohio. "They will help you step by step through the whole process. Explain everything in detail. Any concerns you have, they'll put your mind at ease."

Auction Quick Facts
  • Total gross transactional value — more than $237 million
  • Amount sold to online bidders — more than $126 million (53 percent)
  • Total registered bidders (in person and online) — more than 18,100 (a new company record)
  • Registered online bidders — more than 14,100 (a new company record)
  • Total lots sold — more than 13,500 (a new company record)
  • Number of sellers — more than 1,200 (a new Orlando record)

CEG

(L-R): Ian Harvey, director product marketing and communications of Volvo Construction Equipment & Services; and Tony and Kevin Beets of Discovery’s Gold Rush were on hand at teh auction to see the Gold Rush EC200E excavator sold to an online buyer from Belgium for $290,000.
(L-R): Ian Harvey, director product marketing and communications of Volvo Construction Equipment & Services; and Tony and Kevin Beets of Discovery’s Gold Rush were on hand at teh auction to see the Gold Rush EC200E excavator sold to an online buyer from Belgium for $290,000.

Brad Cumiskey, Ritchie Bros., director of product management.
Brad Cumiskey, Ritchie Bros., director of product management.

Ninety cranes of all types including crawlers, all-terrain, truck cranes and more were sold on day three.
Ninety cranes of all types including crawlers, all-terrain, truck cranes and more were sold on day three.

The Ritchie Bros. virtual ramp allows items, such as cranes and excavators, to be sold to bidders in maximum comfort.
The Ritchie Bros. virtual ramp allows items, such as cranes and excavators, to be sold to bidders in maximum comfort.

Terry Aldridge shows off some of this year’s hottest-selling souvenirs and memorabilia from the world’s largest construction equipment auction.
Terry Aldridge shows off some of this year’s hottest-selling souvenirs and memorabilia from the world’s largest construction equipment auction.

The Ritchie Bros. self-serve customer kiosks allow bidders to gather important information at the touch of a button or two.
The Ritchie Bros. self-serve customer kiosks allow bidders to gather important information at the touch of a button or two.

More than 300 aerial lift were available to the highest bidder from all across the globe.
More than 300 aerial lift were available to the highest bidder from all across the globe.

Sometimes, it just makes more sense for sellers to have their piece of equipment sold right where it sits, and not go to the trouble of sending it to the Ritchie Bros. yard.  When that’s the case, the given piece of iron shows up on the Ritchie Bros. equivalent of the Jumbotron.
Sometimes, it just makes more sense for sellers to have their piece of equipment sold right where it sits, and not go to the trouble of sending it to the Ritchie Bros. yard. When that’s the case, the given piece of iron shows up on the Ritchie Bros. equivalent of the Jumbotron.

Ritchie Bros. and its team of ring workers are among the best in the world at spotting each and every bid and assuring that every consignment goes for the highest possible amount.
Ritchie Bros. and its team of ring workers are among the best in the world at spotting each and every bid and assuring that every consignment goes for the highest possible amount.

Ted McKeon (L), president of Construction Equipment Guide, catches up with Mike Sherman, recently retired used equipment manager of Milton Cat. Maybe it was the warm Florida sunshine or the lure of  Ritchie Bros.’ annual February sale that drew Sherman back to Florida.
Ted McKeon (L), president of Construction Equipment Guide, catches up with Mike Sherman, recently retired used equipment manager of Milton Cat. Maybe it was the warm Florida sunshine or the lure of Ritchie Bros.’ annual February sale that drew Sherman back to Florida.

Get a load of this one! The loaders come in all sizes at the biggest construction equipment sale held on the planet.
Get a load of this one! The loaders come in all sizes at the biggest construction equipment sale held on the planet.

Todd Kaley (L) of Upstate New York’s Volvo dealer, Vantage Equipment, and Dave Kreis, northeast regional director of Ritchie Bros. Volvo and Ritchie Bros. teamed up this year to sell the Volvo gold rush excavator for charity at this year’s sale.
Todd Kaley (L) of Upstate New York’s Volvo dealer, Vantage Equipment, and Dave Kreis, northeast regional director of Ritchie Bros. Volvo and Ritchie Bros. teamed up this year to sell the Volvo gold rush excavator for charity at this year’s sale.

Day one at the Ritchie Bros. auction saw almost 400 skid steers roll over the auction ramp.
Day one at the Ritchie Bros. auction saw almost 400 skid steers roll over the auction ramp.

Tom Schachner (L), vice president of sales, and Dan Meszaros, account manager, construction equipment, both of Cleveland Brothers.
Tom Schachner (L), vice president of sales, and Dan Meszaros, account manager, construction equipment, both of Cleveland Brothers.

As the sale is set to begin, bidders line up to register. Lines, however, are not as long as they once were because Ritchie has developed many easy ways to register in advance, including the intuitive Ritchie Bros. app.
As the sale is set to begin, bidders line up to register. Lines, however, are not as long as they once were because Ritchie has developed many easy ways to register in advance, including the intuitive Ritchie Bros. app.

Approximately 300 skid steers are lined up and ready to roll over the ramp. Before the sale even started, bidders from more than 100 counties had registered to get their opportunity to buy from this inventory.
Approximately 300 skid steers are lined up and ready to roll over the ramp. Before the sale even started, bidders from more than 100 counties had registered to get their opportunity to buy from this inventory.

More than 800 owners of equipment, including the largest equipment dealers in the United States, trusted their most valuable assets to the auctioneering hands of Ritchie Bros., including this great lineup of motor graders.
More than 800 owners of equipment, including the largest equipment dealers in the United States, trusted their most valuable assets to the auctioneering hands of Ritchie Bros., including this great lineup of motor graders.

To celebrate the 10th season of Gold Rush on Discovery Channel and its new EC200E crawler excavator, Volvo donated a special gold-painted EC200E to be sold at this year’s sale with all proceeds donated to Habitat for Humanity and Building Homes for Heroes.
To celebrate the 10th season of Gold Rush on Discovery Channel and its new EC200E crawler excavator, Volvo donated a special gold-painted EC200E to be sold at this year’s sale with all proceeds donated to Habitat for Humanity and Building Homes for Heroes.

Approximately 600 excavators of every size and shape imaginable were available to the highest bidder.
Approximately 600 excavators of every size and shape imaginable were available to the highest bidder.

Shopping for crawlers are Jay Brooks (L) of Heavy Yellow Equipment, Marietta. Ga., and Tim Thompson of Thompson Grading and Clearing, Carlton, Ga.
Shopping for crawlers are Jay Brooks (L) of Heavy Yellow Equipment, Marietta. Ga., and Tim Thompson of Thompson Grading and Clearing, Carlton, Ga.

Holt CAT is among the Largest cat dealers in the United States and one of the oldest in the world. Representing Holt at this year’s sale is Michael Quintanilla (L) and Abraham Macias
Holt CAT is among the Largest cat dealers in the United States and one of the oldest in the world. Representing Holt at this year’s sale is Michael Quintanilla (L) and Abraham Macias

One of the larger excavators at the sale was this Komatsu PC 490 LC, which was getting inspected by a couple of experienced professionals, Joe Boyle (L) and Bill Miller of Bill Miller Equipment Sales, with locations in Eckhart, Md., and Carlin, Nev.
One of the larger excavators at the sale was this Komatsu PC 490 LC, which was getting inspected by a couple of experienced professionals, Joe Boyle (L) and Bill Miller of Bill Miller Equipment Sales, with locations in Eckhart, Md., and Carlin, Nev.

Jack Wierzba of New Frontier Excavation and Paving in Buffalo, N.Y., came to Orlando hoping to to expand  his fleet of milling and paving equipment.
Jack Wierzba of New Frontier Excavation and Paving in Buffalo, N.Y., came to Orlando hoping to to expand his fleet of milling and paving equipment.

Mark (L) and Rick Charbonneau of Continental Paving Inc.,  Londonberry, N.H., were inspecting some Broce brooms.
Mark (L) and Rick Charbonneau of Continental Paving Inc., Londonberry, N.H., were inspecting some Broce brooms.

Ritchie Bros. held its premiere global auction in Orlando, Fla., selling more than 13,500 equipment items and trucks for more than $237 million.
Ritchie Bros. held its premiere global auction in Orlando, Fla., selling more than 13,500 equipment items and trucks for more than $237 million.

Gold Rush TV stars Tony and Kevin Beets were on site at Ritchie Bros. Orlando auction and caught bids from the crowd for the special edition Volvo excavator.
(CNW Group/Ritchie Bros. photo)
Gold Rush TV stars Tony and Kevin Beets were on site at Ritchie Bros. Orlando auction and caught bids from the crowd for the special edition Volvo excavator. (CNW Group/Ritchie Bros. photo)

Fred Vilsmeier, auctioneer of Ritchie Bros,. plays a dual roll pointing attendees in the right direction as busloads of bidders arrive ready to make their purchases.
Fred Vilsmeier, auctioneer of Ritchie Bros,. plays a dual roll pointing attendees in the right direction as busloads of bidders arrive ready to make their purchases.

Mike Zyndorf, owner of Mike Zyndorf Equipment LLC, Mays Landing, N.J., checks out a Cat wheel loader.
Mike Zyndorf, owner of Mike Zyndorf Equipment LLC, Mays Landing, N.J., checks out a Cat wheel loader.

Norman Boone of R&L Boone Construction Co. is from Marceline, Mo., which is where Walt Disney lived as a child.
Norman Boone of R&L Boone Construction Co. is from Marceline, Mo., which is where Walt Disney lived as a child.

Joe Villa, international used equipment sourcing, Foley Incorporated, Bensalem, Pa., records prices in sunny Florida.
Joe Villa, international used equipment sourcing, Foley Incorporated, Bensalem, Pa., records prices in sunny Florida.

More than 500 hydraulic excavators rolled over the auction ramp during Ritchie Bros.’ Florida auctions.
More than 500 hydraulic excavators rolled over the auction ramp during Ritchie Bros.’ Florida auctions.

Screens show Ritchie Bros.’ timed auction lots.
Screens show Ritchie Bros.’ timed auction lots.

As the Ritchie sign says … world’s largest.  More than 13,000 lots were auctioned off at the recent six-day Orlando sale.
As the Ritchie sign says … world’s largest. More than 13,000 lots were auctioned off at the recent six-day Orlando sale.