Ritchie Bros. Conducts Biggest Mexico Auction

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Ritchie Bros. Auctioneers set multiple records at its first-ever Mexico national auction, held in Polotitlan, Mexicom on March 28-29, 2012. Last week's unreserved public auction set new company records in Mexico for highest gross auction proceeds (nearly $19 million) and the most bidders (735). More than 1,150 heavy equipment items and trucks were sold during the two-day auction, with each item being sold to the highest bidder, regardless of price—with no minimum bids or reserve prices.

 

More than 700 people from 27 countries, including 32 Mexican states, registered to bid in person or online from as far away as Australia, Malaysia, Ireland, and India. Bidders from outside of Mexico purchased nearly $2 million worth of equipment (10 percent of total gross auction proceeds). In total, more than 325 bidders registered online and purchased more than $4 million worth of equipment.

 

Consignments for the next Mexico national auction, scheduled for June 2012, are now being accepted.