Ritchie Bros. Auction Sells $40 Million | Construction News

Ritchie Bros. recently sold more than US$40 million of equipment and trucks at a record-breaking auction in Denver, Colo.

The two-day unreserved public auction set multiple site records, including total sales, online sales (US$17+ million), total number of buyers (1,000+), number of online buyers (480+), number of sellers (410+) and number of lots sold (2,400+). Bids were made in person, online at rbauction.com and by proxy.

"This was our largest sale ever, attracting more than 3,800 bidders from 48 US states and 49 other countries," said Casey Fencl, Regional Sales Manager, Ritchie Bros. Auctioneers. "Local contractors who held onto equipment over the last few years are now starting to feel more optimistic due to an increase in residential and commercial construction. Many local customers are choosing to sell and upgrade their fleets, which resulted in a record-setting amount of equipment in this auction. We also received consignments from local dealerships upgrading their rental fleets. We noticed particularly strong pricing on construction and transportation equipment in the auction last week."

Buyers from outside of Colorado purchased US$27+ million (69%) of equipment and trucks. Equipment sold to buyers from as far away as Egypt, Costa Rica, Japan and New Zealand.

The auction included 125+ items for Trinidad, Colorado-based Purgatoire Valley Construction, Inc. The family-run company has been in operation for more than 20 years and works on a wide variety of projects, including street construction, sewer & water infrastructure, pipeline construction, gas & oilfield infrastructure and more.

"We sold everything from dozers, excavators and scrapers to pickup trucks, hiboy trailers and more as part of a realignment of our fleet," said Dean Moltrer, Vice President of Purgatoire Valley Construction. "We've worked with Ritchie Bros. for many years, both buying and selling. They always put their customers first and make sure we are taken care of and well represented."

AUCTION QUICK FACTS: DENVER, COLORADO - JUNE 11 - 12, 2015 

  • Gross Auction Proceeds - US$40+ million
  • Amount sold to online bidders - US$17+ million
  • Total registered bidders (onsite and online total) - 3,800+
  • Unique registered online bidders - 2,350+
  • Total number of buyers - 1,000+
  • Total number of online buyers - 480+
  • Number of lots sold - 2,400+
  • Number of sellers - 410+

The Ritchie Bros. auction calendar at rbauction.com currently features more than 90 unreserved public auctions around the world, including the Company's next auction in Denver, Colorado on August 6, 2015 (rbauction.com/Denver).