OEMS AND SUPPLIERS

Earth moving equipment auction bags $US172M

AUCTIONEERS Ritchie Bros last week sold a record 10,700 mining and construction equipment items f...

Lou Caruana

This year's unreserved auction on February 15 - 19 attracted more than 9,850 bidders from 79 countries.

Out-of-state buyers purchased $137 million of equipment (80%), including $40 million purchased by out-of-country buyers (23%), according to Ritchie Bros CEO Ravi Saligram.

“Orlando is one of our flagship operations—and it's clear from the results this week equipment buyers and sellers value the solutions we provide,” he said.

“We're very pleased to have been able to help 985 consignors sell equipment this week, including both end-users and dealers. Due to the diverse buying audience we attract from different sectors and geographies we achieved consistent and solid pricing all week through most asset classes, with particularly strong results for low-hour, late-model, well-maintained equipment. I am very proud of our team's efforts in conducting a world-class sale.”

Bidders participated in the auction in person, online in real time at rbauction.com, and by proxy. Online buyers purchased $64 million of equipment (38%). All items were sold without minimum bids or reserve prices.

Ritchie Bros president Terry Dolan said: “This is not just a U.S. auction; this is a global event with participation from around the world.

“People travel from across the globe to attend this auction, and thousands more participate online from as far away as Belgium, Costa Rica, Colombia, Vietnam, and more.”

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