Ritchie Bros.' February 15 – 20, 2021 auction attracted 22,700+ online bidders from 80+ countries, setting a new record for the Orlando site. The company also set new records for online page views (2.9+ million and up 18% YOY), watchlist adds (177,000+ and up 54% YOY), and PriorityBids (53,700+ and up 316% YOY).
"Orlando is more than an auction—it's an event our customers rely on for the success of their businesses and we take this responsibility seriously," said Ann Fandozzi, chief executive officer. "We introduced new services this year to help customers unable to travel safely to inspect equipment in-person, including thousands of inventory videos, new data tools to help customers better understand market pricing, and scheduled pickups and inspection times. The more informed our customers are, the more confident they will be when bidding."
While the auction was conducted 100% online, Ritchie Bros.' Orlando site was still packed with an abundance of equipment. Two hundred acres and 12,000+ items, including 540+ excavators, 330+ compactors, 280+ skid steer loaders, 230+ wheel loaders, 180 dozers, 740+ aerial work platforms, and 430+ truck tractors.
Specific sales highlights included a 2017 Peterson 5710D crawler horizontal grinder that sold for US$630,000 to an online buyer from Georgia; a 2016 Caterpillar 374FL hydraulic excavator that sold for US$460,000 to an online buyer from Michigan; and a 2012 Kobelco CK1600G 160-ton self-erecting crawler crane that sold for US$435,000 to an online buyer from Florida.
Approximately 82 percent of the equipment in the Orlando auction was purchased by U.S. buyers, including 18 percent purchased by Floridians. The remaining 18 percent of the equipment was sold to international buyers from as far away as Australia, Germany, Egypt, and Korea. International sales highlights included a Grove GMK6250L 250-ton all-terrain crane that sold for US$400,000 to a buyer from Trinidad and Tobago and a 2018 Caterpillar D8T dozer that sold for $260,000 to a buyer from Australia.
Ritchie Bros. delivered strong results for more than 1,000 consignors who sold in the Orlando auction, including B&G Equipment and Supply from Alabama and Rock Transport from Indiana.
"We traditionally do well in Orlando and this year didn't disappoint as we exceeded our expectations by 15 percent," said Dave Sides, fleet coordinator for B&G Equipment Supply. "Ritchie Bros. is a leader in the industry. They attract the largest audience. So, I'm not surprised they continue to deliver great results."
"We've done some smaller auctions with Ritchie Bros. in the past and had success, so we tried a larger package with Orlando this year and achieved substantially more than we expected," said Bill Meador, president of Rock Transport. "Ritchie Bros. works hard and is extremely transparent—no games, no gimmicks, just results."
AUCTION QUICK FACTS: ORLANDO, FL (FEBRUARY 2021)
Gross Transaction Value (GTV): US$191+ million
Total Registered Bidders: 22,700+
Total Number of Lots: 12,000+
Total Number of Consignors: 1,000+
Ritchie Bros. will sell more than 60,000 equipment items and trucks in its upcoming auctions, including a Rocky Mountain Regional Event on March 3 – 4; Phoenix, AZ auction on March 5; and a Fort Worth, TX auction on March 17 – 18. The company also has weekly featured online auctions at IronPlanet.com and a daily reserved option with Marketplace-E.
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