Ritchie Bros.’ Online Auction Sells More than US$43 Million of Equipment

Ritchie Bros.

Last week in Houston, Ritchie Bros. sold more than 4,400 equipment items and trucks for more than US$43 million.

The April 21–22, 2020, auction, conducted with only online-bidding due to state gathering restrictions, attracted more than 8,600 registered bidders from 62 countries.

U.S. buyers bought about 93% of the equipment. The top three U.S. states in terms of buyers were Texas, California, and Florida. International buyers from countries such as India, Italy, and Peru bought 7% of the equipment. About 22% of purchases were made through Ritchie Bros.' mobile application.

"Our Houston auction this week was a great showcase of our ability to continue to drive demand in uncertain times," said Alan McVicker, regional sales manager, Ritchie Bros. "This auction was different than past Houston auctions, with no onsite bidders. All bidding was done online to ensure the health and safety of our employees and customers. Regardless, we saw record attendance for this time of year and solid pricing across most equipment categories, including oil-and-gas-specific equipment."

More than 460 consignors sold equipment in the auction, including a complete retirement dispersal for Zoch Construction Inc., based in Centerville, Texas.

"The results exceeded our expectations—in fact, when we hit our target, we still had 18 pieces to sell, so we are very happy with how everything went," said Dawn Zoch, who runs Zoch Construction Inc. with her husband Calvin.

AUCTION QUICK FACTS: HOUSTON, TX (April 2020)

Total gross transactional value – US$43+ million
Total registered bidders – 8,600+
Total lots sold – 4,400+
Total number of sellers – 460+

"Thank you to all our consignors for trusting us to deliver results for your assets," added Mr. McVicker. "For any companies looking to sell assets, we have solutions to meet every customer need, including onsite auctions, weekly online auctions, oil & gas specific events through Kruse Energy, and our Marketplace-E reserved solution."

For a complete list of upcoming auctions and equipment available, visit rbauction.com and ironplanet.com.