Ritchie Bros. Sells Us$77+ Million Of Equipment In Record Breaking Fort Worth Auction

The company also held US$52M+ Edmonton and US$40M+ Los Angeles auctions last week, as well a record-breaking real estate sale on Marketplace-E

Ritchie Bros. conducted 15 auctions last week, including its largest-ever Fort Worth, TX auction, selling 5,850+ equipment items and trucks for US$77+ million on December 10 – 11, 2019. Approximately 62 percent of the assets were sold to online buyers.

More than 8,300 bidders from 62 countries registered to bid in the two-day Fort Worth auction, including 6,750+ online bidders. Approximately 93 percent of the equipment in the auction was sold to US buyers, while international buyers from as far away as Australia, China, and Egypt purchased seven percent.

"We had a great selection of equipment, resulting in huge crowds and aggressive bidding both days of the auction," said Neal Black, Regional Sales Manager (Fort Worth), Ritchie Bros. "We set new Fort Worth records for GTV, number of consignors, and number of bidders. We also set a new company record for number of truck tractors sold in a single auction—on Day Two alone we sold 661 truck tractors for US$15 million. We'd like to thank all our sellers and buyers in 2019; we look forward to helping you again in 2020."

Later in the week, Ritchie Bros. held big auctions in Edmonton, AB (Dec 12 – 14) and Los Angeles, CA (Dec. 13 – 14).

The Los Angeles auction was the company's largest at the site in 12 years. More than 3,200 equipment items and trucks were sold in the two-day Los Angeles event for US$40+ million. Approximately 95 percent of the equipment was sold to U.S. buyers, while international buyers from as far away as France, India, and Taiwan purchased five percent of the assets.

Closing out the week, with its sixth and final auction of 2019, Ritchie Bros.' Edmonton team sold 5,000+ items for US$52+ million (CA$69+ million). This brings Edmonton's 2019 total to 49,200+ equipment items sold for US$465+ million (CA$619+ million).

Ritchie Bros. also held several strong online events, with its IronPlanet and GovPlanet auction attracting 6,500+ bidders from 45 countries, while the company's Marketplace-E solution sold a 1999 Beechcraft B300 aircraft for US$950,000 and a commercial property in Arizona for US$7.6 million—a new record for the site.

Equipment sales highlights included:

• A 2008 Liebherr LR1400/2 400-ton crawler crane sold for US$860,000 in Fort Worth, TX
• A 2010 Caterpillar D9T dozer sold for US$420,000 in Fort Worth, TX
• Two 2019 Peterbilt 567 mixer trucks sold for a combined US$380,000 in Lo Angeles, CA
• A 2017 Caterpillar 950M wheel loader sold for US$200,000 in Los Angeles, CA
• A 2018 Tigercat X870D feller buncher sold for US$355,000+ (CA$470,000) in Edmonton, AB
• A 2014 Kenworth C500 tri-drive sleeper Texas bed winch tractor sold for US$196,000+ (CA$260,000) in Edmonton, AB

Source: Ritchie Bros.