Ritchie Bros. Auctioneers sold more than $61 million of heavy equipment and trucks during an unreserved public auction in Edmonton, Alberta on October 24 & 25, 2012. More than 5,400 registered bidders competed for more than 4,900 equipment items and trucks sold in the auction. Every item was sold to the highest bidder, regardless of price—without minimum bids or reserve prices. Bids were made in the auction on-site, online in real time at www.rbauction.com or by proxy.
"Our latest Edmonton auction featured equipment from a record number of sellers across Alberta and the world," said Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers. "We experienced good pricing on both days of the auction and more than half of the registered bidders participated online. The high percentage of online participation this week was most likely due to the large number of surrounding winter storms in Alberta. Online bidders were able to inspect the equipment on our website, bid from home and avoid the snow while on-site bidders participated from our heated auction facility—it's great that we are able to offer our customers a variety of ways to bid on all the equipment available."
More than 5,400 people from 31 countries, including 9 Canadian provinces and 2 territories registered to bid in person or online in the auction. Bidders from outside Alberta purchased close to CA$18 million (US$18+ million) or 29 percent of total gross auction proceeds. More than 2,750 of the bidders taking part in the auction registered to bid online (51 percent) and purchased more than CA$21 million (US$21+ million) of equipment available online.
The auction featured equipment from more than 740 sellers—a new Canadian record, including more than 50 equipment items and trucks for Terry Stenberg Oilfield Services, an oilfield construction and lease reclamation company based in Central Alberta.
Established in 1958, Ritchie Bros. Auctioneers is the world's largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. Ritchie Bros. has over 110 locations in more than 25 countries, including 44 auction sites worldwide.