Ritchie Bros. Final Auctions of 2012 and Set New Records | Daily Construction News

Ritchie Bros. Auctioneers Inc., sold approximately $3.9 billion of equipment at 328 unreserved auctions around the world in 2012. This represents a 5% increase in gross auction proceeds over 2011 and the highest gross auction proceeds in company history. The company achieved gross auction proceeds of $1 billion in the fourth quarter and sold a record $1.3 billion of equipment, trucks and other assets to online bidders in 2012--an 18% increase over 2011.

The company conducted its final unreserved auctions on Dec. 20 in Los Angeles and St. Louis and plans to release its full audited annual financial statements and management's discussion and analysis for 2012 on Feb. 26, 2013. All dollar amounts in this release are stated in U.S. dollars, unless otherwise indicated.

Peter Blake, Ritchie Bros. CEO, commented: "Against the backdrop of market turbulence through the year, we are pleased with our 2012 results as we emerged well positioned to continue the growth of our core unreserved auction business and we are ready to begin a new path that will introduce a new customer base to our brand. In 2012, we saw the intense competition for quality low hour used equipment recently transition to a less competitive and more familiar environment for our business to grow over the long term. These changes in the evolving equipment market contributed to our performance in the year where we saw significant gains in our online presence and bidder portal, with over 5 million unique visitors to our 21 language website and $1.3 billion in annual online equipment sales. Our auctions in Canada recorded over $1 billion in gross auction proceeds for the year, an amazing feat from our network of 10 permanent auction sites within Canada."

"We are realizing benefits, from prior investments in capital and strategic initiatives, ranging from our continuing improvements in operating leverage to the expansion of our global auction site network with our new Donington Park, UK yard and the opening of replacement sites in Chehalis, WA (replacing Olympia, WA) and Raleigh-Durham, N.C. (replacing Statesville, NC)." added Mr. Blake. "2013 is shaping up to be a great year of milestones, with the impending launch of our new online, non-auction marketplace as a result of our AssetNation acquisition. We also will be conducting our first unreserved auction in Beijing, China, as well as our upcoming six-day auction in Orlando, Florida and Grand Opening auction in Geelong, Australia - all demonstrating the breadth in our mission statement to deliver compelling business solutions that enable the world's builders to easily and confidently exchange equipment."

Industrial auction results

 

Year ended Dec. 31, 2012

Year ended Dec. 31, 2011

Number of industrial auctions

221

228

Bidder registrations

389,500

385,000

Buyers

99,250

95,550

Consignments

42,100

41,300

Lots

287,000

286,500

Average industrial auction

 

Year ended Dec. 31, 2012

Year ended Dec. 31, 2011

Gross auction proceeds

$16.5 million

$15.5 million

Registered bidders

1,760

1,690

Consignors

190

181

Lots

1,300

1,180

Upcoming auctions
There are currently 77 unreserved auctions on the 2013 Ritchie Bros. auction calendar at www.rbauction.com, which commences with a two-day auction in Houston on Feb. 6 and 7, to be followed by auctions in Las Vegas(Feb. 8), Donington Park, UK (February 12), Phoenix (Feb. 12 & 13), Tipton, Calif. (Feb. 15) and a six day auction in Orlando on Feb. 18 - 23. 2013.