Ritchie Bros. Global Crane Sales Generate in Excess of $155 Million

Ritchie Bros. Auctioneers, Vancouver, Canada, achieved record-breaking crane sales in 2010, by selling 1,870 cranes to 1,350 buyers from 63 countries worldwide. In total, crane sales generated more than $155 million in gross auction proceeds for the company.

The new record surpassed the previous record set in 2009 when the company sold 1,700+ cranes to 1,270 buyers from 60 countries for more than $150 million. Approximately 70 percent of the cranes sold in 2010 were purchased on-site at Ritchie Bros. unreserved auctions worldwide and 30 percent were purchased online at their website. In addition, 60 percent of the cranes sold were purchased by buyers from outside the region of the sale.  

"We've seen a steady increase in the number of cranes being sold at our unreserved auctions around the world in the last couple of years, including several high-value cranes that have sold for in excess of one million dollars," said Rob Mackay, president of Ritchie Bros. Auctioneers.

Some of the most notable high-value cranes sold in 2010 included a 2006 440-ton Manitowoc 16000 crawler crane sold in Denver, Colo. for $2.5 million to a Californian buyer, and a 2007 Liebherr LTM-1250 rough-terrain crane sold in Ocaña, Spain for $1.2 million (€1.0 million) to an online buyer from Chile.

There are more than 170 cranes in Ritchie Bros.’ equipment inventory available online being sold in a number of upcoming unreserved public auctions worldwide. This includes 60 cranes consigned to a five-day auction in Orlando, Fla. from Feb. 15-19. The cranes, which include rough-terrain, crawler, all-terrain and hydraulic truck cranes, are among 1,000 equipment items being sold to the highest bidders—regardless of price—with no minimum bids or reserve prices.

The auction in Orlanda is typically the largest industrial auction on the Ritchie Bros. auction calendar, attracting a large crowd of international bidders each year. More than 7,000 registered on-site and online bidders from 75 countries competed for 7,200 equipment items sold in last year's auction; approximately 85 percent of equipment was purchased by bidders from outside Florida.

Cranes and equipment continue to be added to the auction daily and are quickly filling up the 200+-acre Orlando auction yard. Consignments are still being accepted and anyone interested in selling cranes, trucks and equipment in the auction can find details on their website.