Ritchie Bros. Ft. Worth Auction Sells $53 Million | Construction News

Ritchie Bros. sold more than US$53 million of equipment and trucks at its unreserved public auction in Fort Worth, Texas on July 22-23, 2015.

The two-day auction set a new Fort Worth site record for number of lots sold, with more than 4,250 items being sold to bidders around the world, including 500+ trailers, 385+ truck tractors, 95+ excavators, 90+ loader backhoes, 50+ compactors, 50+ flatbed trucks, 45+ boom trucks, 40 crawler tractors, 35+ winch tractors, and much more. More than 3,750 people from 53 countries registered to bid in person, online at rbauction.com, and by proxy.

"We had a tremendous line-up of gear at the auction, and the crowds really turned out to bid," said Dolan Aucoin, Regional Sales Manager, Ritchie Bros. Auctioneers. "Pricing met or exceeded our expectations, especially on good quality, well maintained equipment. Many bidding customers found it difficult to find deals. As usual with Ritchie Bros. unreserved auctions, every item was sold to the highest bidder, with no reserve prices and no minimum bids."

Ritchie Bros. sold equipment for 490+ sellers, including Texas-based Cash Construction Company Inc. Established in 1969, Cash Construction specializes in projects involving water, wastewater and dry utilities, as well as drainage improvements, lift stations, pump stations and roadwork.

"We've been selling through Ritchie Bros. since 1996," said Robert Pullen, Equipment Manager for Cash Construction. "All the people I interact with at Ritchie Bros., from the counter staff to everyone in the yard, are friendly, easy to work with and well-versed in what they do. Ritchie Bros. is a good, honest company; they give accurate appraisals and are who you want to work with when selling your equipment."

Buyers from outside Texas purchased approximately US$26 million of equipment and trucks (or 50 percent of total gross auction proceeds). Equipment sold to buyers from as far away as the United Arab Emirates, Poland and Taiwan.

AUCTION QUICK FACTS: FORT WORTH, TEXAS – JULY 22 – 23, 2015

Total Gross Auction Proceeds – US$53+ million
Amount sold to online bidders – US$24+ million
Total registered bidders (in person and online) – 3,750+
Registered online bidders – 2,350+
Total lots sold – 4,250+
Number of sellers – 490+