Ritchie Bros. sells more than US$176 million of equipment at six-day mega-auction in Orlando, FL
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More than 9,400 heavy equipment items and trucks sold during the world's
largest heavy equipment auction for 2013, including a 2012 Grove RT890
90-ton 4x4x4 rough terrain crane that sold for US$725,000
ORLANDO, Feb. 25, 2013 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX:
RBA) held the world's largest heavy equipment auction for 2013 in
Orlando, Florida last week (February 18 - 23, 2013) selling 9,400+
items for more than US$176 million. The six-day auction set a new
Company record for online sales as online buyers generated more than
US$53 million in gross auction proceeds or 31 per cent of total gross
auction proceeds generated in last week's auction. Close to 8,300
bidders registered for the six-day, unreserved public auction from 80 countries, which featured equipment from more than 780 sellers.
Every item in the six-day auction was sold to the highest bidder,
regardless of price-without minimum bids or reserve prices.
"Where else can you go and liquidate an entire fleet of equipment worth
millions of dollars in one week?" said Frank Fowler, Senior Vice
President and Director of Used Sales for Florida-based Ring Power
Corporation-a long-time buyer and seller with Ritchie Bros. "We sold a
selection of heavy mining and construction equipment at this year's
February Ritchie Bros. auction here in Orlando. As an equipment dealer,
the February Ritchie Bros. auction in Orlando gives us an opportunity
to turn over equipment that is sitting in the back of our lot, idle and
not being sold-and we do this fast and for the best value possible with
the help of Ritchie Bros. This year we achieved strong values for the
sale of our equipment, mainly due to the ability of Ritchie Bros. to
reach buyers from all over the world-and create a competitive bidding
environment with local bidders from every corner of the U.S."
Close to 8,300 registered bidders from 80 countries, including 50 U.S.
states, all Canadian provinces and one territory, participated both in
person and online. More than US$38 million was purchased by buyers in Florida while more
than US$137 million (or 78%) was sold to buyers located outside the
state of Florida, with more than US$58 million (or 33%) of that amount
being sold to buyers outside the country. Items in the auction were
sold for more than 780 sellers. Items sold include a 2012 Grove RT890
90-ton 4x4x4 rough terrain crane that sold for US$725,000 and more than
forty 2008 International ProStar and 2007 International 9400I trucks
from Walmart's professionally-maintained fleet.
"The selection of equipment at the Ritchie Bros. February Orlando
auction is second to none," said Atif Sultan, Owner of Maryland-based
Imran Equipment Export. "I've participated at Ritchie Bros. auctions
all around the U.S., Europe, the Middle East and Japan. It is the
selection of equipment and unreserved policy that keeps me coming back
to them. And, when speaking of good selection, there is nothing in the
world like the selection that can be found at this Orlando auction!"
"It has been another big February week for us here in Orlando," said
Steve Kriebel, Regional Sales Manager, Ritchie Bros. Auctioneers. "We
welcomed bidders from across the nation and those who traveled from
around the world to compete for one of the world's largest selections
of heavy equipment. Prices were particularly strong for the smaller
heavy construction items as well as one of the nicest selections of
cranes that we've ever sold in our yard here in Orlando. Having now
kicked off our 2013 Orlando auction season we look forward to building
for our next Orlando auction on May 16, 2013."
A new Company record for gross auction proceeds generated by online
buyers was set at this year's February Orlando auction. More than 3,900
of the registered bidders participated online using the Ritchie Bros.
real-time online bidding service available at www.rbauction.com and purchased more than US$53 million of equipment. Internet bidders
were winner or runner up bidder on 51 percent of the lots available
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's
largest seller of used equipment for the construction, transportation, agricultural, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. offers compelling solutions that
make it easy for the world's builders to buy and sell equipment with
confidence. The Company conducts hundreds of unreserved public auctions
each year, selling more equipment to on-site and online bidders than
any other company in the world (rbauction.com). The Company also operates an online marketplace through Ritchie
Bros. EquipmentOne (EquipmentOne.com) and a range of value-added services, including equipment financing for
customers through Ritchie Bros. Financial Services (rbauctionfinance.com). The Company has over 110 locations in more than 25 countries,
including 44 auction sites worldwide.
PHOTOS FOR MEDIA USE: high-resolution photos of the Orlando auction are enclosed with this
release. For more information about this year's Orlando auction and
other Ritchie Bros. auctions around the world, please visit www.rbauction.com/media. Members of the public and the media can follow Ritchie Bros. on