Ritchie Bros. Edmonton auction nets $60 million in sales

Ritchie Bros.’ first Edmonton auction of 2018 generated $60 million in sales.

The auction, held Feb 27 to March 1, sold more than 4,250 heavy equipment items and trucks with more than 8,500 bidders from 53 countries participating.

About 89 per cent of the equipment in the auction was sold to Canadian buyers, with buyers from Alberta purchasing 52 per cent.

With more than 6,300 online bidders, about 64 per cent of the equipment in the auction was sold to online buyers.

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“Equipment supply continues to be tight, resulting in high demand and strong pricing across most equipment categories,” said Trent Vandenberghe, sales director at Ritchie Bros. “We registered 8,500 bidders this week and there were probably another few thousand people onsite just to watch and see what the current market is for equipment. There was a strong contingent of end-users bidding aggressively and snatching up assets — they have the work and they need the equipment. Consignors were very happy with the results we achieved for them this week.”

The equipment at the Edmonton auction was sold for more than 640 owners, including a complete dispersal of about 90 items for Savard Construction.

“We came to Ritchie Bros. because of the convenience they provide—they could sell all our gear in one auction, instead of me trying to sell one item at a time by myself,” said Mike Savard, owner of Savard Construction.

As well, a special charity portion of this week’s Edmonton auction was donated to the Children’s Wish Foundation. The company raised more than $19,000 for the charity.

Edmonton auction highlights:

  • A pair of 2014 Western Star 4900SA 11,598-litre tri-drive hydro vac trucks sold for a combined $660,000
  • A 2012 Caterpillar 16M VHP motor grader sold for $580,000
  • Two 2013 Volvo A40F articulated dump trucks sold for a combined $570,000
  • A 2016 Caterpillar 966M wheel loader sold for $335,000
  • A 2008 Caterpillar 627G motor scraper sold for $300,000
  • A 2016 Versatile 500DT track tractor sold for $282,500
  • A 2007 Caterpillar D8T crawler tractor sold for $240,000
  • A 2015 Gerrys KLH802 85-ton lowboy sold for $225,000
  • A 2017 Kenworth W900 sleeper truck tractor sold for $154,000