US$81+ million of equipment sold in Ritchie Bros.' largest-e

|Jun 4|magazine9 min read

June 2 – 3 auction also set a new site bidder record, registering 11,600+ people from 68 countries

FORT WORTH, Texas, June 4, 2020 /PRNewswire/ - Ritchie Bros. conducted its largest ever Fort Worth, TX auction this week, selling close to 5,300 equipment items and trucks for US$81+ million. Due to the COVID-19 pandemic, the auction was held with online-bidding only and set a new site bidder record in the process, registering 11,600+ people from 68 countries.

Approximately 93% of the equipment in the June 2 – 3, 2020 auction was sold to U.S. buyers, including 43% purchased by Texas buyers, while international buyers from such countries as Australia, Germany, and the United Arab Emirates purchased 7%. Mobile app purchases made up 17% of total sales.

"We continue to break attendance records in 2020—eclipsing 10,000 bidders for the first time in Texas—resulting in solid pricing across most equipment categories and record GTV in this week's Fort Worth auction," said Neal Black, Regional Sales Manager, Ritchie Bros. "We want to thank all our consignors and buyers for putting their trust in Ritchie Bros. For anyone unable to purchase what they needed in Fort Worth, we have an IronPlanet online auction today and a site auction in Williston, ND—with online-bidding only—on Friday. Get online and find the next addition to your fleet!"

More than 20,000 PriorityBids were made in the Fort Worth auction—up 221% from the previous Fort Worth auction in March. A 2018 Freightliner CA126 Cascadia sleeper had more than 375 PriorityBids from 71 different bidders before it was sold by the live auctioneer.

Sales highlights in the Fort Worth auction included a 2013 Grove TMS900E 110-ton T/A T/A hydraulic truck crane that sold for US$420,000 to a buyer from Oregon; a 2019 John Deere 9570RX quadtrac track tractor that sold for US$420,000 to a buyer from Texas; and a 2015 John Deere 1050K dozer that sold for US$355,000 to a buyer from New Mexico. On Day Two of the auction the company sold 800+ truck tractors—the most ever in a single auction. All items were sold without minimum bids or reserve prices.

AUCTION QUICK FACTS: FORT WORTH, TX (June 2020)

  • Total gross transactional value (GTV) – US$81+ million
  • Total registered bidders – 11,600+
  • Total lots sold – 5,290+
  • Number of sellers – 600+

Ritchie Bros. currently has more than 65,000 equipment items, trucks, and other assets listed for sale through its auctions and marketplaces. For a complete list of upcoming auctions and equipment available, visit rbauction.com and ironplanet.com

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and 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 number 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 the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled 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's suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about 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.