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Ritchie Bros. Hosts Two-Day Unreserved Auction in Calif.

Tue November 13, 2007 - West Edition
CEG



The two-day Ritchie Bros. unreserved auction in Sacramento Sept 6 to 7 generated more than $27 million in gross auction proceeds and set a new site record for internet sales. More than $9 million worth of equipment was sold to online bidders (representing 34 percent of total sales), beating the previous Sacramento site record of $5 million.

More than 600 people registered to bid in the auction over the internet, live and in real time, using the company’s online bidding service, rbauctionBid-Live.

“The auction was a great success. We attracted a global audience of bidders to Northern California and helped deliver strong prices for our consignors, despite the cooling local market,” said Mike Johnston, Ritchie Bros. regional manager. “We had a lot of well-maintained, late model construction equipment in the sale that attracted international attention, and the weak U.S. dollar gives our international customers strong buying power here. An on-site bidder from Australia purchased more than $1.7 million worth of equipment, including six motor graders, but we also saw a lot of international participation over the internet. An online bidder from Mexico bought a 2006 portable cone crusher, and one from Saudi Arabia bought eight skid steer loaders.”

More than 1,700 lots from more than 300 consignors were sold in the unreserved public auction, attracting more than 1,700 registered bidders from 22 countries, including 39 U.S. states and nine Canadian provinces. Close to 670 lots went to buyers from outside California, representing almost 60 per cent of the gross auction proceeds.

Concord, Calif.-based Independent Construction Co. sold a large selection of equipment in the Sacramento auction, including crawler tractors, compactors and a hydraulic excavator and the majority went to out-of-state buyers.

“I was very impressed by how smooth and well run the auction was,” said Brian McCosker from Independent Construction. “Without Ritchie Bros.’ ability to bring the world to my equipment in California, I would not have achieved the results I did. I am very happy with my results and how easy the process was.”

More than 30,700 items will be sold in 44 industrial and 13 agricultural unreserved auctions coming up on the Ritchie Bros. auction calendar.

For more information, visit www.rbauction.com.

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