Ritchie Bros. Heads to Boston for Crane Auction

Ritchie Bros. Auctioneers will hold an unreserved public auction in Boston, Mass., on June 10, 2009. The upcoming multi-million dollar unreserved public auction will feature the previous assets of Greystone Equipment LLC and equipment from other owners, including 16 large cranes.

"This is the auction event of the year for the crane industry," said Stephen O'Duggan, territory manager for Ritchie Bros. Auctioneers. "When it comes to selling this many large cranes, Ritchie Bros. is the best avenue for reaching a global audience and achieving world fair market value. We've been getting a lot of calls from interested buyers in England, Ireland, India, and across the United States. People are in need of this equipment because they still have jobs that use these machines, and this is a great selection of cranes."

Among the large items being sold are a number of 300-ton cranes. These include a 2007 Link-Belt, sold brand-new in 2008 for $2.1 million, and two Manitowoc M250's, which are worth $2.3 million each when brand new. Every item will be sold unreserved to the highest bidders on auction day regardless of price, with no reserve prices or minimum bids.

According to O'Duggan, this auction is the first big grouping of large cranes on the market in this region in over four years. "Since our auction site is between the Boston and Providence ports, it will be easy for buyers to transport these large cranes overseas, if needed," he said.

The auction site is still accepting new consignments for the sale. The unreserved auction will be open to the public and interested buyers can register in person at the site in Plainville, Mass., a few days before auction day or over the internet if they plan on bidding online during the auction.