Ritchie Bros. Sells More Than 120 Cranes in Orlando Auction

After achieving record-breaking crane results in 2010, Ritchie Bros. Auctioneers, Lincoln, Neb., sold more than 120 cranes for $14.5 million at the company's auction site in Orlando, Fla., last month.

In comparison to cranes sold in last year's five-day Orlando auction, gross auction proceeds generated from crane sales this year grew by nearly $1.5 million.

“The success we had selling cranes in Orlando last month is a great start to another strong year of global crane sales for Ritchie Bros.,” said Steve Kriebel, regional manager. “Not only did we manage to increase our gross auction proceeds from crane sales compared to last year, we also sold cranes to buyers in more countries.”

In total, 71 buyers from 20 countries purchased cranes at this year's Orlando auction. Ninety percent of the cranes were purchased by buyers outside Florida, including 56 percent purchased by buyers outside the U.S., from as far away as Canada, Mexico, South America, the Middle East and India.

Approximately 70 percent of gross auction proceeds generated from cranes sales in Orlando last month came from on-site purchases, with the remaining 30 percent purchased online.

Cranes featured in the auction included 43 rough-terrains, 22 truck cranes, 15 crawlers, 15 hydraulic truck cranes, and all-terrain cranes. The highest value crane sold was a 160-ton 2008 Liebherr LTM1160-51 AT, purchased by a Nevada buyer for $1.2 million.

The cranes were among 8,000 equipment items and trucks sold to a record number of about 7,700 bidders from 77 countries. The auction also attracted a record number of consignors and generated $172 million in gross auction proceeds.