Ritchie Bros takes $172m at Orlando auction

Ritchie Bros sold a record 10,700 plus items for a combined sum of over US$172 million in just five days during the year’s largest equipment auction at the company’s 200-acre Orlando, Florida site.

More than 9,800 bidders from 79 countries were at this year’s unreserved auction February 15 – 19. Out-of-state buyers purchased more than $137 million (80%) of the auctioned equipment, including more than $40 million purchased by out-of-country buyers (23%).

“Orlando is one of our flagship operations—and it’s clear from the results this week equipment buyers and sellers value the solutions we provide,” said Ravi Saligram, chief executive officer, Ritchie Bros. “We’re very pleased to have been able to help 985 consignors sell equipment this week, including both end-users and dealers. Due to the diverse buying audience we attract from different sectors and geographies we achieved consistent and solid pricing all week through most asset classes, with particularly strong results for low-hour, late-model, well-maintained equipment. I am very proud of our team’s efforts in conducting a world-class sale.”

Bidders participated in the auction in person, online in real time at rbauction.com, and by proxy. Online buyers purchased over $64 million of equipment (38%). All items were sold without minimum bids or reserve prices.

“This is not just a U.S. auction; this is a global event with participation from around the world,” said Terry Dolan, president (USA & Latin America), Ritchie Bros. “People travel from across the globe to attend this auction, and thousands more participate online from as far away as Belgium, Costa Rica, Colombia, Vietnam, and more.”

Ritchie Bros. sold equipment and trucks from all the top manufacturers, including Caterpillar, Volvo, John Deere, Komatsu, Terex, Grove, JLG, Kenworth, Peterbilt, Freightliner, International and more. Equipment sold included over 450 excavators, over 240 loaders, more than 200 compactors, over 150 dozers, more than 120 cranes, and more than 500 truck tractors.

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