Ritchie Bros. Orlando Auction Marches Toward Record Sales

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With two days left for Ritchie Bros. Auctioneers’ massive Orlando auction, it seems certain that this could be one for the record books. Sales of all types of equipment are demanding premium prices. A staff of 200 Ritchie employees worked in concert to push an ocean of equipment across the block. The event, originally set for a five-day sale, was extended an extra day to facilitate over 10,000 lots to be sold.

A very good sign for the market was the high prices being paid for equipment across the board. Special note should be given to the high prices being seen for dirt equipment. Dozers projected to sell for $90,000 to $100,000 were being snapped up for numbers approaching $140,000. Many CAT dealers were on hand, scooping up late model equipment to augment their highly utilized rental fleets. One buyer for a CAT distributor commented that they were not able to get deliveries on certain new products in time to satisfy upcoming projects requirements.

As reported by Lift and Access earlier this week, sale prices for an abundance of access equipment and telehanders were buoyant. On the crane front, buyers were plentiful, but the number of cranes for sale was down significantly. According to Karl Werner, senior vice president of operations for Ritchie Bros., this has been a trend at its most recent auctions.

Many crane bidders sat on the sidelines as they saw the few quality cranes that were offered for sale go for what were considered by many to be over the top prices. For example, a 2007 Grove RT890E commanded $490,000, and a Manitex 30112S boom truck mounted on a 2008 Sterling chassis went for $215,000.

Check the prices and details on each and every piece sold by going to www.rbauction.com. While no one at Ritchie Bros. would dare project any numbers for the week, there was a general consensus that the sale would generate more than $200 million in equipment sales alone.