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SOURCE Ritchie Bros. Auctioneers
More than 3,500 heavy equipment items and trucks - including large
selection of mining equipment - sold to the highest bidders at two-day
unreserved public auction
EDMONTON, March 11, 2013 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and
TSX: RBA), the world's largest industrial auctioneer, sold more than
CA$57 million (US$55+ million) of heavy equipment and trucks during an
unreserved public auction at its permanent auction site in Edmonton,
Alberta last week, on March 7 & 8, 2013. The auction featured a large
selection of late-model mining and heavy construction equipment,
including more than 70 hydraulic excavators, more than 45 wheel
loaders, more than 30 articulated dump trucks, more than 15 rock trucks
and 10 crushers. More than 3,500 equipment items and trucks were sold
to the highest bidders regardless of price-without minimum bids or
reserve prices. Bids were made in person at the Edmonton auction site,
online in real time at www.rbauction.com or by proxy.
"Our first auction of the year here in Edmonton featured a large
selection of late model mining, construction and transportation
equipment, which we're seeing a lot of - with the Alberta mining
industry on a steady move," said Jim Rotlisberger, Regional Sales
Manager, Ritchie Bros. Auctioneers. "Participation from local and
international bidders created a healthy, competitive bidding
environment during both days of the auction. We saw strong results for
late-model, low-hour equipment for the mining, construction,
transportation and other industries-a positive sign at the start of
2013 as we get set for our second auction at the end of April."
Close to 5,700 bidders from more than 35 countries, including 39 US
states and all Canadian provinces and two territories, registered to
bid in person or online for the auction. More than CA$39 million
(US$38+ million) was purchased by buyers from Alberta while bidders
from outside Alberta purchased more than CA$18 million (US$17+ million)
or 32 percent of total gross auction proceeds. More than 2,900 of the
bidders taking part in the auction registered to bid online - a new
Edmonton site record - and purchased more than CA$19 million
(US$18+million) of equipment available online.
Last week's unreserved public auction in Edmonton featured equipment for
more than 490 sellers, including more than 70 mining, heavy
construction and transportation equipment items from North American
Construction Group Inc. For more than 50 years, the North American
Construction Group of companies have provided services to large oil,
natural gas, and resource companies in the Canadian oil sands region.
They are one of the largest providers of heavy construction and mining,
industrial and piling services in western Canada with one of the
largest independently-owned fleets in the region. The company has been
buying and selling equipment at Ritchie Bros. auctions for more than 20
years in order to keep their fleet current and in good, working
condition.
"In general, we saw good activity levels from the bidding crowds during
last week's auction," said Joe Lambert, Vice President, North American
Construction Group. "A variety of fleets -from larger mining gear to
smaller construction equipment- crossed the auction ramp with strong
participation by the bidding crowd from both industries. The used
equipment market has shown a slight improvement over last fall when
there was a significant disposal of thermal coal assets from the U.S.
into the market. We look forward to the next Ritchie Bros. Edmonton
auction where we will look at our options for selling some more
equipment to buyers from around the world."
AUCTION QUICK FACTS: EDMONTON, AB - MARCH 7 & 8, 2013
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Gross Auction Proceeds - CA$57+ million (US$55+ million)
-
Amount sold to online bidders - CA$19+ million (US$18+ million)
-
Unique bidders (total) - close to 5,700
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Unique online bidders - 2,900+ * New Edmonton, AB permanent auction site record
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Lots sold - 3,500+
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Number of sellers - 490+
The Ritchie Bros. auction calendar currently features more than 125
unreserved public auctions around the world, including the Company's
next Edmonton, AB unreserved public auction, which is scheduled for
April 24 & 25, 2013. Visit www.rbauction.com for a complete list of upcoming auctions.
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's
largest seller of used equipment for the construction, transportation, agricultural, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. offers compelling solutions that
make it easy for the world's builders to buy and sell equipment with
confidence. The Company conducts hundreds of unreserved public auctions
each year, selling more equipment to on-site and online bidders than
any other company in the world (rbauction.com). The Company also operates an online marketplace through Ritchie
Bros. EquipmentOne (EquipmentOne.com) and a range of value-added services, including equipment financing for
customers through Ritchie Bros. Financial Services (rbauctionfinance.com). The Company has over 110 locations in more than 25 countries,
including 44 auction sites worldwide.
ATTENTION MEDIA: Photos and other media resources are available for use at http://www.rbauction.com/media. Members of the public and the media can follow Ritchie Bros. on
Twitter @RitchieBros.
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