Ritchie Bros. sells CA$48+ million of equipment in its largest-ever Montreal, QC auction

Canada NewsWire

The Company also sold US$42+ million of equipment in a U.S. Northeast Regional auction last week

MONTREAL , March 28, 2022 /CNW/ - Ritchie Bros . conducted its largest Montreal auction ever last week, selling close to 3,000 equipment items and trucks for CA$48+ million (US$38+ million). The March 23 – 25 unreserved online auction attracted more than 7,400 registered bidders from 40+ countries.

"We continue to attract a massive global buying audience online, driving record pricing for assets, especially transportation equipment," said Eric Roussin , Regional Sales Manager, Ritchie Bros . "Trucks and trailers are attracting unprecedented demand in today's market, with light-spec truck tractors, van trucks, hi-boys, and reefer trailers bringing top dollar last week in Montreal . If you have surplus transportation assets, I encourage you to contact us to take advantage of the incredibly strong prices we are achieving today."

Sales highlights in the Montreal auction include a 2017 Caterpillar D6T LGP dozer that sold for CA$252,000; two 2020 Kenworth W990 sleeper truck tractors that sold for a combined CA$385,000; and a 2019 Peterbilt 389 sleeper that sold for CA$155,000. Approximately 90% of the equipment in the Montreal March auction was sold to Canadians, including 61% sold to Quebecers, while the remaining 10% was sold to international buyers from as far away as Ecuador , Malaysia , and The Netherlands . All items were sold without minimum bids or reserve prices.

On March 22 – 23 last week, Ritchie Bros . also held its first Northeast Regional Event of the year, with equipment stored and sold from four different locations: North East, MD ; North Franklin, CT ; Pittsburgh, PA ; and Raleigh-Durham, NC . The two-day online auction attracted more than 8,900+ bidders to compete for approximately 4,900 items, generating US$42+ million in gross transaction value.

"Our local yards are gaining momentum and our team is doing a great job of finding equipment to sell in a tight market environment," said Jason Kirkconnell , Regional Sales Manager, Ritchie Bros . "Low-hour, ready-to-work equipment continues to perform exceptionally well, resulting in a lot of happy consignors. We have site auctions, weekly featured online events, a 24/7 online marketplace for premium assets, and a listing service—let us know how we can help you turn your surplus equipment into cash!"

Sales highlights in the Northeast event included a 2019 Caterpillar 950M wheel loader that sold for US$290,000 ; a 2020 Peterbilt 389 tri-axle dump truck that sold for US$200,000 , and a 2018 Komatsu PC238USLC-11 hydraulic excavator that sold for US$177,500 . Approximately 94% of the assets in the auction were sold to U.S. buyers, while the remaining 6% was sold to international buyers from as far away as Brazil , India , and Japan .

Ritchie Bros . has dozens of events on its upcoming auction calendar, including a Great Lakes Regional Event on March 29 – 30 and a Atlantic Canada Timed Auction event on March 30 . For a complete list of upcoming auctions and online events, visit RitchieBros.com .

About Ritchie Bros .:
Established in 1958, Ritchie Bros . (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company's selling channels include: Ritchie Bros . Auctioneers , the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E , a controlled marketplace offering multiple price and timing options; Ritchie List , a self-serve listing service for North America ; Mascus , a leading European online equipment listing service; Ritchie Bros . Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet , TruckPlanet, and Kruse Energy . The Company's suite of solutions also includes Ritchie Bros . Asset Solutions and Rouse Services LLC , which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip , an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros . Financial Services. For more information about Ritchie Bros ., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media .

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SOURCE Ritchie Bros .

View original content: http://www.newswire.ca/en/releases/archive/March2022/28/c0893.html