Ritchie Bros. returns to Rocky Mountain region with US$50+ million auction
Published by Aimee Knight,
Editorial Assistant
World Pipelines,
Ritchie Bros. returned to the Rocky Mountain region last week to sell 3800+ equipment items and trucks from seven different locations in one online event. The two-day auction attracted 11 000+ bidders and generated more than US$50 million in gross transaction value.
Approximately 96% of the equipment in the 1 - 2 December auction was sold to US buyers, including 15% sold to Colorado, 10% to Texas, and 8% to Utah. The remaining 4% was purchased by international buyers from as far away as Malaysia, Colombia, and Ecuador. Leading up to the auction online equipment views and PriorityBids per lot were both up 19% year over year.
"Our Regional Auctions continue to attract quality equipment from an expansive region, drawing record attendance, driving strong equipment and truck prices, and exceeding customer expectations," said Chad Apland, Regional Sales Manager, Ritchie Bros. "We would like to thank all the customers who participated in our Rocky Mountain events this year—thank you for your continued trust. If you have surplus equipment to sell, contact us today!"
More than 550 equipment owners consigned equipment to the Rocky Mountain Regional Event, including a complete dispersal of 500+ items for Frontier Services Inc., a midstream pipeline company based in Billings, MT.
"The auction turned out great thanks to Ritchie Bros.' ability to reach such a wide range of buyers with their marketing," said Reid Lawson, Vice President of Frontier Services Inc. "They are such a professional organization, with an amazing team. Now that we've sold our entire fleet through Ritchie Bros. we can return to our roots in agriculture and will likely be back visiting Ritchie Bros. for some different equipment in the future."
Five big sellers from the Rocky Mountain Regional Event:
- 2015 Caterpillar 627K motor scraper – US$500 000
- 2018 Metso LT120 34 in. x 48 in. crawler jaw crusher – US$485 000
- 2018 Caterpillar D6T XWVP crawler tractor – US$395 000
- 2019 Caterpillar 982M wheel loader – US$365 000
- 2020 Kenworth T800 tri-axle day cab heavy haul truck – US$202 500
AUCTION QUICK FACTS: ROCKY MOUNTAIN REGIONAL EVENT (DECEMBER 2021)
- Gross Transaction Value (GTV): US$50+ million
- Total Registered Bidders: 11 000+
- Total Number of Lots: 3800+
- Total Number of Consignors: 550+
Ritchie Bros. will sell more than 60,000 equipment items and trucks in its upcoming auctions and online marketplaces, including 4200+ items selling in Fort Worth, TX on Dec. 7 – 9; 2200+ items in a Phoenix, AZ auction on Dec. 8; and 1800+ items selling in a Timed Auction in Sacramento, CA on Dec. 8.
The company also has weekly featured online auctions at IronPlanet; a daily reserved option with Marketplace-E; and a brand new equipment listing service called Ritchie List, with more than 40 000+ items already listed.
Read the article online at: https://www.worldpipelines.com/business-news/06122021/ritchie-bros-returns-to-rocky-mountain-region-with-us50-million-auction/
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