With winter on its way, many Alberta contractors are realigning their fleets for winter work, making it a perfect time for another Ritchie Bros. auction. More than 10,600 people registered to bid for the company's latest Edmonton, AB auction, held last week. More than 8,000 equipment items and trucks were sold in the four-day auction (Oct. 25-28, 2016) for CA$129+ million (US$96+ million).
Approximately 88 percent of the equipment was sold to Canadian buyers (by dollar value), including 53 percent sold to Albertans; about 10 percent was sold to U.S. buyers. Online buyers purchased 60 percent (CA$77+ million or US$57+ million) of the equipment.
"With record attendance for October, nearly every construction and transportation equipment category performed well," said Brian Glenn, Senior Vice President, Ritchie Bros. "Customers are upbeat and were pleased with the level of bidder activity and the pricing we achieved. We have one more Edmonton auction scheduled for 2016 in December, and encourage anyone interested in selling assets before the end of the year to contact us. We already have a couple of large dispersals lined up."
Auction quick facts: Edmonton, AB (October 25-28, 2016)
- Gross auction proceeds – CA$129+ million (US$96+ million)
- Amount sold to online bidders – CA$77+ million (US$57+ million)
- Total registered bidders (onsite and online) – 10,600+ bidders from 50+ countries
- Online registered bidders – 7,300+
- Number of lots sold – 8,000+
- Number of sellers – 900+