Ritchie Bros. set multiple records at its first-ever Mexico national auction held in Polotitlan, State of Mexico on March 28 & 29, 2012. The Company has been in business for more than 50 years and has been conducting unreserved heavy equipment auctions for more than 15 years in Mexico.

Last week’s unreserved public auction set new Company records in Mexico for highest gross auction proceeds (nearly US $19 million) and most bidders (735). Equipment sold in last week’s national auction was securely stored and displayed in four separate locations: Polotitlan (State of Mexico), Hermosillo (Sonora), Torreo (Coahuila) and Merida (Yucatan). Participants bid in person from locations in Polotitlan and Hermosillo as well as online in real time at www.rbauction.com. In total, more than 1,150 heavy equipment items and trucks were sold during the two-day auction, with each item being sold to the highest bidder, regardless of price—with no minimum bids or reserve prices.

More than 700 people from 27 countries, including 32 Mexican states, registered to bid in person or online from as far away as Australia, Malaysia, Ireland and India. Bidders from outside of Mexico purchased nearly US $2 million worth of equipment (10 percent of total gross auction proceeds). In total, more than 325 bidders registered online and purchased more than US $4 million worth of equipment.