Ritchie Bros sells $237m equipment and trucks at Orlando auction

Ritchie Bros has sold more than 13,500 equipment items and trucks for $237+ million at its premiere global auction in Orlando, Florida.

Ritchie Bros says 53% of the equipment was sold to online buyers and approximately 81% was sold to out of state buyers from areas such as Australia, India and the United Arab Emirates. Purchases via the Ritchie Bros mobile app were up 104% from the same auction in 2019, the company adds.

Ann Fandozzi, CEO at Ritchie Bros, says: “The makeup of this auction was certainly different from last year, with less heavy construction assets—due to high workloads in this industry—and more transportation gear. Utilising 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.”

“There were many highlights during the week, but one that really stood out was the sale of a Volvo special edition ‘Gold Rush’ excavator sold for charity on Day Five,” Fandozzi continues. “Selling for $290,000 to an online buyer from Belgium, all proceeds are being donated to Habitat for Humanity and Building Homes for Heroes. We’d like to thank Volvo for involving us in this event. Another big highlight in the auction was the sale of a 2015 Link-Belt 100-ton crawler crane which sold for US$560,000!.”

The online PriorityBid technology allowed 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% 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 US$85,000.

Other highlights at the auction included 740+ truck tractors, 730+ excavators, 390+ skid steer loaders, 380+ compactors, 290+ wheel loaders, 280+ dozers and 150+ articulated dump trucks. All items were sold without minimum bids or reserve prices.

Source

 

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