Ritchie Bros. sells US$72+ million of equipment at Fort Wort

|Mar 12|magazine8 min read

A record 9,150+ people from 65 countries registered to bid; 61% of assets sold to online buyers

FORT WORTH, TX, March 12, 2020 /PRNewswire/ - Ritchie Bros. continues to attract record numbers of bidders in 2020, with its latest auction in Fort Worth, TX registering 9,150+ bidders from 65 countries. More than US$72+ million of equipment items and trucks were sold in the March 10 – 11, 2020, auction.

Approximately 61% of the equipment in the auction was sold to online buyers. USA buyers purchased 92% of the assets in the auction, including 43% purchased by Texas buyers, while international buyers from such countries as Australia, Belgium, and Egypt purchased 8%. Purchases through Ritchie Bros.' mobile application were up 97% from the same auction in 2019.

"We continue to see record crowds for our 2020 auctions, with bidder registrations up 39% over the same auction last year," said Neal Black, Regional Sales Manager, Ritchie Bros. "Our Fort Worth auction this week had a great line-up of late-model, low-hour equipment resulting in strong pricing across almost all equipment categories. For anyone who was unable to purchase the equipment they need from our Fort Worth sale, we have an IronPlanet auction and our big Las Vegas event today. Get online and start bidding!"

More than 5,500 equipment items were sold in the two-day Fort Worth auction, including 650+ truck tractors, 125+ excavators, 80+ loaders, 75+ loader backhoes, and 65+ dozers. Sales highlights included five 2018 Caterpillar 745 6x6 articulated dump trucks that sold for a combined US$1,935,000; a 2017 Caterpillar D8T dozer that sold for US$360,000; and a 2012 Caterpillar 16M motor grader that sold for US$300,000. All items were sold without minimum bids or reserve prices.

AUCTION QUICK FACTS: FORT WORTH, TX (March 2020)

  • Total gross transactional value – US$72+ million
  • Amount sold to online bidders – US$44+ million
  • Total registered bidders (in person and online) – 9,150+
  • Registered online bidders – 7,550+
  • Total lots sold – 5,500+
  • Number of sellers – 720

Ritchie Bros. currently has more than 70,000 equipment items, trucks, and other assets listed for sale through its auctions and marketplaces. For a complete list of upcoming auctions and equipment available, visit rbauction.com and ironplanet.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, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company's suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, 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.