Alberta Edmonton & Area News

Ritchie Bros. auctions off $53M in equipment in Edmonton

Ritchie Bros. sold 5,500 plus equipment items in Edmonton over three days for CA$53 million and US$69 million in Fort Worth, Texas in just two days.

The Edmonton site registered 14,500 plus bidders from 60 countries. Approximately 94 per cent of the equipment sold in this week’s Edmonton auction was sold to Canadians, with 56 per cent purchased by Albertans, while international buyers from as far away as India, Peru, and Poland purchased six per cent of the equipment.

The Fort Worth auction, on Dec. 8 – 9, attracted 11,700 plus bidders, which is up 40 per cent from the same auction last year. In total, the Fort Worth site attracted 54,000 plus bidders over five auctions in 2020, up 63 per cent from 2019.

Approximately 39 per cent of the equipment sold this week in Fort Worth was purchased by Texas buyers, while out-of-state and international buyers from as far away as Australia, Egypt, and the United Kingdom purchased the remaining 61 per cent.

Both auctions were conducted 100 per cent online due to COVID-19.

“Online demand continues to be strong, resulting in record bidder registrations and solid pricing across most equipment categories,” said Kari Taylor, President, North America Sales, Ritchie Bros.

“Just this year we registered more than 100,000 bidders for our Edmonton auctions, which is up 32 per cent year over year.”

“Our Alberta and Texas markets are major sources of equipment and trucks across North America and the globe,” said Doug Olive, Senior Vice President, Pricing.

“More than 70 per cent of all dozers sold in Canada were sold in Alberta. In 2020 alone, Edmonton sold 540 excavators for $52 million. Meanwhile, Fort Worth sells an unbelievable amount of trucks auction after auction. This year, we sold close to 2,700 truck tractors for $71 million in Fort Worth.”

Photo: Auctioneer (USFWS Mountain Prairie Creative commons)