Online auction attracts 10,000 bidders

Ritchie Bros.’ latest two-day online auction attracted more than 10,000 bidders and featured more than 3,600 equipment items and trucks, which were stored in three USA locations: Columbus, Ohio; Chicago, Illinois; and a new local yard in Detroit, Michigan.

The Great Lakes regional event resulted in strong competition and US$43 million in gross transaction value.

Approximately 88 per cent of the equipment in the auction was purchased by US buyers, including 16 per cent sold to Ohio, 11 per cent to Illinois, and 5 per cent to Michigan.

The remaining 12 per cent was purchased by international buyers from as far away as Germany, Australia, and Ghana.

Equipment in the auction was sold for more than 600 equipment and truck owners. The five big sellers were as follows:

• 2011 Grove GMK6220L 220 ton 12 x 8 x 10 all terrain crane – US$505,000
• 2017 John Deere 470G LC hydraulic excavator – US$270,000
• 2012 Caterpillar D8T crawler tractor – US$215,000
• 2018 Kenworth T880 5-axle dump truck – US$155,000
• 2019 Western Star 5700XE sleeper truck tractor – US$145,000.

“Our regional auctions continue to attract – with bidder registrations up 23 per cent from our previous auction – resulting in strong market pricing across all asset categories,” said Tim Keane, regional sales manager, Ritchie Bros. “Last week we saw particularly strong returns for transportation equipment, with van trailer prices reaching record levels.”

Upcoming events

Ritchie Bros. will sell more than 35,000 equipment items and trucks in its upcoming events, including a Rocky Mountain Regional Event on 6 and 7 October. The company also has weekly featured online auctions at IronPlanet.com and a daily reserved option with Marketplace-E.