Ritchie Bros. Edmonton auction clears $66 million

ritchie bros
Ritchie Bros. file photo

Ritchie Bros. sold more than 4,500 equipment items and trucks for more than $66 million at its sixth and final Edmonton auction of the year.

In 2017, Ritchie Bros. sold a total of more than 37,000 items for more than $553 million through its Edmonton site.

More than 7,850 bidders registered to participate in last week’s Edmonton auction, held Dec. 7 and 8. Auction participants included about 5,850 online bidders. About 89 per cent of the equipment in the auction was sold to Canadian buyers, with bidders from Alberta (58 per cent), British Columbia (12 per cent) and Saskatchewan (nine per cent) accounting for the biggest Canadian participants, while international buyers from countries such as Egypt, Poland, and Hong Kong purchased 11 per cent of the equipment.

More than 71 per cent of the equipment in the auction was sold to online buyers.

“Online and onsite bidders were eager to snatch up equipment for winter work, resulting in strong pricing both days of the auction last week,” said Trent Vandenberghe, Sales Director, Ritchie Bros. “We continue to see relatively tight equipment supply as many companies are hanging on to surplus equipment in anticipation of upcoming projects. This continues to result in higher demand at our auctions and an uptick in pricing across many equipment categories.”

Equipment in the December auction was sold for close to 700 owners.

December auction quick facts

  • Gross transactional value – more than $66 million
  • Amount sold to online bidders – more than $47 million
  • Total registered bidders (onsite and online) – 7,850
  • Online registered bidders – 5,850
  • Number of lots sold – 4,500
  • Number of sellers – 698

Edmonton yearend total for Ritchie Bros.

  • Total gross transactional value – more than $553 million
  • Amount sold to online bidders – more than $342 million
  • Total registered bidders (onsite and online) – 56,100
  • Online registered bidders – 40,200
  • Number of lots sold – 37,000

“We helped tens of thousands of customers through our Edmonton auction site in 2017,” Vandenberghe said. “From everyone at Ritchie Bros., we would like to thank you for your patronage and look forward to seeing you again in 2018.”

Ritchie Bros. 2.0

Ritchie Bros: excavator prices get a lift from strong demand

- Advertisement -