Ritchie Bros. Edmonton Auction Sets Company Records | Construction News

Selling more than 10,000 equipment items and trucks in five days is a massive undertaking, and last week Ritchie Bros.' Edmonton team showed that it was up for the challenge.

From April 26 - 30, 2016, Ritchie Bros. sold more than 10,200 equipment items and trucks for CA$240+ million (US$191+ million) at its 200-acre Edmonton, AB auction site.

It was the company's largest Canadian auction ever and the second-largest auction ever. The five-day event attracted more than 16,700 bidders from 55 countries—a new company record, surpassing the previous record by 19%.

Approximately 84% of the equipment (by dollar value) was sold to Canadian buyers, including 46% sold to Alberta buyers. More than 13% of the equipment was sold to U.S. buyers.  

"We would like to thank all the consignors who put their trust in us to sell their equipment last week," said Brian Glenn, senior vice president, Ritchie Bros. "Our ability to attract more than 16,700 bidders from every corner of the world helped us achieve solid results throughout all five days of the auction. In particular, we saw strong pricing on motor scrapers, crawler tractors, wheel loaders, highway transport and gravel hauling equipment. Of particular note, approximately 46 percent of the equipment was purchased by Alberta buyers, showcasing the strength and size of this market even when there are economic challenges."

More than 1,125 companies sold equipment in the auction, including Newcom Earthmovers Ltd. The Brooks, AB, earthworks construction contractor sold more than 400 items in the Edmonton auction as part of a complete dispersal.

"Ritchie Bros. is a one-stop shop—they know the market and they have resources no one can touch," said Harold Ward, president and owner of Newcom Earthmovers. "We've been buying and selling here since we started the company 12 years ago. With the changing landscape here in Alberta we thought it would be a good time for us to sell and we're happy with the result."

More than 6,150 people (37%) registered to bid in person, while more than 10,550 people (63%) registered to bid online—both of which are new company records. More than CA$140 million (US$111+ million) of equipment (58%) was sold to online buyers—also a new company record.

"We continue to invest in both our live and online experience, welcoming our customers and offering them the best of both worlds," said Trent Vandenberghe, vice president, Ritchie Bros. "The onsite experience in an auction of this size is particularly special. It's hard to understand the scope unless you see it in person."  

One highlight of the auction was the charity auction of two classic cars donated by Edmonton couple Reno and Jane Trentini. The cars sold for a combined CA$182,500, with all proceeds donated to two charitable organizations: the MS Society and the Edmonton Community Foundation.

Ritchie Bros.' next Edmonton auction will be held June 14 - 16, 2016.