Auction Blog

Ritchie Bros. Auctioneers , the world’s largest industrial auctioneer, is returning to Bakersfield, California to conduct its second multi-million dollar unreserved public equipment auction in the area this year. On March 27, 2009, Ritchie Bros. conducted an unreserved auction in Bakersfield that attracted almost 1,350 registered bidders from the U.S., Canada and 12 other countries. […]

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Ritchie Bros. Bakersfield Auction June 23

Ritchie Bros. Auctioneers , the world’s largest industrial auctioneer, conducted the largest Dubai, United Arab Emirates and Denver, Colorado auctions in Company history last week. Ritchie Bros. (www.rbauction.com) sold almost US$46 million of equipment in Dubai (June 1 - 3, 2009) and almost US$35 million of equipment in Denver (June 4 & 5). The Company conducted nine other unreserved public auctions around the world last week, including an auction in Moncofa, Spain that generated almost (euro)21 million (US$29 million) in gross auction proceeds (June 4 & 5).

DUBAI, UAE - Almost 700 people from 50 countries registered to bid in person or online at the unreserved auction conducted by Ritchie Bros. at its auction site in Dubai from June 1 - 3, 2009. Ritchie Bros. sold almost 2,300 heavy equipment items and trucks over three days, generating almost US$46 million in gross auction proceeds. Out-of-country bidders purchased more than US$30 million of equipment (67 percent). The majority of the equipment went to buyers from the Middle East, and there were buyers on-site at the auction from as far away as Australia, India and Singapore.

“The auction went exceptionally well,” said Steve Barritt, Ritchie Bros. Regional Manager. “This was our first Dubai auction in which we sold more equipment to buyers from outside the United Arab Emirates than within. Demand for equipment has been so high for so long in the UAE. While that demand has slowed recently, it is still strong in the surrounding Gulf countries and elsewhere in the world. By selling through Ritchie Bros., our local consignors were still able to reach those areas of strength and achieve strong returns on their surplus assets, despite the local slowdown.”

DENVER, COLORADO - Ritchie Bros. conducted the largest Colorado auction in Company history last week, selling almost US$35 million of equipment and trucks at its permanent auction site in Denver on June 4 & 5, 2009. Almost 3,000 people from 24 countries, including 48 U.S. states, registered to bid in the unreserved public auction. About 1,900 registered to bid in person; the other 1,100 registered to bid online in real time. Online bidders purchased more than US$11 million of equipment - another Denver site record. Bidders from as far away as Australia, France and the United Arab Emirates registered to bid on almost 1,900 items, including more than a dozen cranes.

“A record-breaking auction needs two things: a quality lineup of equipment and competing bidders who want to own it; we had both in Denver last week,” said Steve Merich, Ritchie Bros. Regional Manager. “Our global marketing strategy reaches potential buyers from across the U.S. and around the world. People will look far afield to find the right equipment at fair market prices. That’s what our unreserved auctions offer, whether the auction is in Denver or Dubai. There was a lot of talk about the strength of pricing here in Denver last week, which underscores the importance of reaching that global bidding audience when you’re selling in a slow economy.”

MONCOFA, SPAIN - Ritchie Bros. welcomed an international crowd to the three-day unreserved public auction at its auction site in Moncofa, Spain on June 3 - 5, 2009. More than 1,000 people from 45 countries registered to bid in person or online on more than 2,900 heavy equipment items and trucks. The auction generated almost (euro)21 million (US$29 million) in gross auction proceeds. Bidders from outside Spain purchased close to (euro)12 million (US$17 million) of equipment. The auction featured equipment from Hertz and about 290 other dealers, rental companies and contractors.

“Once again, we attracted a large international crowd of on-site and online bidders to our Moncofa auction site,” said Jeroen Rijk, Ritchie Bros. Divisional Manager. “Active bidding from a diverse audience of bidders helped us deliver strong returns for our consignors. Trucks and truck cranes sold particularly well. With the local slowdown, awareness of our unreserved auctions and demand for our services has increased in Spain. That’s why we’re opening a second auction site in Spain, in Ocana. We’re looking forward to conducting our first auction there in July.”

There are 73 unreserved Ritchie Bros. auctions on the auction calendar at www.rbauction.com, including the first auction at the Company’s new auction site in Ocana, Spain (July 3, 2009).

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Ritchie Bros. conducts largest Dubai and Denver auctions in company history

A participant in the upcoming Breast Cancer 3-Day walk in Seattle, Washington has come up with a novel way to raise funds: she will sell a pink street sweeper at an unreserved auction in Olympia and put half the proceeds towards her team’s fundraising efforts. Tina McDonough, the owner of One.7, Inc., the largest used sweeper dealer in the U.S., will sell the pink 2001 Elgin/Freightliner FL70 S/A street sweeper at an unreserved public auction being conducted by Ritchie Bros. Auctioneers (www.rbauction.com) in Olympia on June 17 & 18, 2009. Ritchie Bros. will also donate its commission and any additional fees from the street sweeper’s sale to the breast cancer fundraiser.

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Ritchie Bros Auction to Aid Breast Cancer Foundation

A participant in the upcoming Breast Cancer 3-Day walk in Seattle, Washington has come up with a novel way to raise funds: she will sell a pink street sweeper at an unreserved auction in Olympia and put half the proceeds towards her team’s fundraising efforts. Tina McDonough, the owner of One.7, Inc., the largest used […]

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Breast Cancer Foundation to Benefit From Ritchie Bros Auction

Ritchie Bros. Auctioneers is holding an unreserved public auction in Boston on June 10, 2009 starting at 9:00 a.m. local time. The Company, in business for more than 50 years, has held three other unreserved auctions in the city of Boston over the years - the last time was in 2003. This upcoming multi-million dollar unreserved public auction will feature the previous assets of Greystone Equipment LLC and equipment from other owners, including 16 large cranes. At the request of the State of Rhode Island court-appointed Receiver, Joseph P. Ferrucci, Esq., of the Providence law firm Ferrucci Russo P.C., Ritchie Bros. Auctioneers was hired to spearhead the auction process given its substantial experience and proven track record in unreserved auctions of this nature.

“This is the auction event of the year for the crane industry,” says Stephen O’Duggan, Territory Manager for Ritchie Bros. Auctioneers. “When it comes to selling this many large cranes, Ritchie Bros. is the best avenue for reaching a global audience and achieving world fair market value. We’ve been getting a lot of calls from interested buyers in England, Ireland, India, and across the United States. People are in need of this equipment because they still have jobs that use these machines, and this is a great selection of cranes..”

Among the large items being sold are a number of 300-ton cranes. These include a 2007 Link-Belt, sold brand-new in 2008 for $2.1 million, and two Manitowoc M250’s, which are worth $2.3 million each when brand new. Every item will be sold unreserved to the highest bidders on auction day regardless of price, with no reserve prices or minimum bids. According to Mr. O’Duggan, this auction is the first big grouping of large cranes on the market in this region in over four years.

“Since our auction site is between the Boston and Providence ports, it will be easy for buyers to transport these large cranes overseas, if needed,” said Mr. O’Duggan.

The auction site is still accepting new consignments for the sale. The unreserved auction will be open to the public and interested buyers can register in person at the site in Plainville, MA a few days before auction day or over the internet if they plan on bidding online during the auction.

Auction details: —————- - Location: 3 Belcher St, Plainville, MA. Auction Site Phone: +1.508.643.0194 - Time and date: 9:00 a.m. auction start on Wednesday, June 10, 2009. - Open to the public; registration to bid is free - Interested buyers can register to bid in person or over the internet days before the auction. Visit the auction site to register to bid in person; photo I.D. is required. Customers can inspect equipment during regular business hours leading up to the auction. - Internet bidders must register online before auction day at www.rbauction.com; at least 2-3 business days is recommended for first-time internet bidders - Equipment details, including photos, are available on the Ritchie Bros. web site: www.rbauction,com

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Ritchie Bros. returning to Boston for large crane auction