Bidders from dozens of countries helped deliver global market pricing at the unreserved public auctions conducted by Ritchie Bros. Auctioneers at its permanent auction sites in Orlando, Florida and Edmonton, Alberta last week. The May 28 & 29, 2008 Orlando auction generated more than US$57 million in gross auction proceeds. The May 28, 29 & 30 Edmonton auction generated more than CA$56 million (US$56 million) in gross auction proceeds and set a new company record for number of consignors (sellers) at one auction.

A record number of consignors generated a new site record for lots sold at the unreserved public auction conducted by Ritchie Bros. in Edmonton, Alberta on May 28, 29 & 30, 2008. The auction featured almost 4,700 equipment items from more than 700 consignors - a new company-wide record - and generated gross auction proceeds in excess of CA$56 million (US$56 million). In addition to equipment for the construction, transportation, aggregate, agricultural and other industries, a number of recreational and residential properties in Alberta and Manitoba were also sold. More than 4,700 people from 20 countries, including all 11 Canadian provinces and territories and 32 U.S. states, registered to bid at the auction either in person or over the internet. Equipment was sold to buyers from as far away as Australia, Germany and the United Arab Emirates.

“Our local customers are gearing up for the busy summer and fall run,” said Brian Glenn, Ritchie Bros. Regional Manager. “Many of them are retooling their equipment fleets and selling any excess inventory, and they recognize that their best opportunity for achieving good returns on those investments is to sell at our auctions and reach buyers from all over the world. We had a good three days at our Edmonton auction, with particularly strong returns on oilfield transportation equipment.”

Posted: 06|2|08 at 4:17 pm. Filed under: Auction News.