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Ritchie Bros. sells 4,800+ items for US$45+ million in Houston, TX this week

PRNewswire 14-Feb-2019 7:00 AM

Feb. 12 – 13 auction attracts a record 7,150+ bidders from 63 countries; 57% of assets sold online

HOUSTON, Feb. 14, 2019 /PRNewswire/ - Ritchie Bros.' first Texas auction of 2019 was a huge success, building momentum into the company's massive six-day Orlando, FL auction next week. In total, more than 4,800+ equipment items and trucks were sold in the February 12 – 13 Houston, TX auction for US$45+ million.

A record 7,150+ people from 63 countries registered to bid in the two-day Houston event, including 5,400+ people registering to bid online. U.S. buyers purchased approximately 89 percent of the equipment, including 52 percent purchased by Texas buyers, while international buyers from such countries as Germany, Vietnam, and New Zealand purchased 11 percent of the equipment. Online buyers purchased 57 percent of the assets.

"We smashed our Houston attendance record this week—surpassing our previous bidder record set just last November by 28 percent!" said Alan McVicker, Regional Sales Manager, Ritchie Bros. "As a result, we achieved solid pricing on most equipment categories, with particularly strong results for transportation assets."

Mr. McVicker continued, "With 7,150 bidders competing for 4,800 items in Houston, there were many customers unable to get the equipment or trucks they need. Thankfully we have a ton of upcoming events to fill those needs, including our massive premier global auction next week in Orlando, where we are set to sell more than 13,400 items in just six days. We can't wait to get started!"

Equipment highlights in the Houston two-day auction included 300+ truck tractors, 350+ trailers, 80+ excavators, 80+ compactors, 45+ skid steers, 40+ loader backhoes, 35+ dozers, 35+ loaders, 30 farm tractors, 25 cranes, and more. All items were sold without minimum bids or reserve prices.

AUCTION QUICK FACTS: HOUSTON, TX (February 2019)

  • Total gross transactional value – US$45+ million
  • Amount sold to online bidders – US$26+ million (57 percent)
  • Total registered bidders (in person and online) – 7,150+
  • Registered online bidders – 5,400+
  • Total lots sold – 4,800+
  • Number of sellers – 660+

Ritchie Bros. currently has more than 55,000 equipment items, trucks, and other assets listed for sale through its various marketplaces, including 1,200+ items set to sell through its weekly featured auction on IronPlanet today (Feb. 14). The company's next onsite auction in Texas will be held in Fort Worth on March 12 – 13, 2019. For a complete list of upcoming auctions and equipment available, visit rbauction.com and ironplanet.com.  

About Ritchie Bros.
Established in 1958, Ritchie Bros. (TSX:RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance® equipment condition certification; Marketplace-E, an online marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers, and Cat® auctions, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

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SOURCE Ritchie Bros.