Ritchie Bros. sees 50 per cent increase in bidders at Edmonton auction
March 1, 2021 By Crane & Hoist Canada
Edmonton, Alta. – Ritchie Bros. drove strong results for consignors with its first big Canadian auction of the year, selling more than 5000 equipment items and trucks in Edmonton, Alta.. for $53 million last week.
The three-day, online auction attracted more than 17,000 bidders from 66 countries, which is up 50 per cent from the February 2020 event.
“We drove record demand in Edmonton last year, registering more than 100,000 bidders through six auctions, and it continues in 2021 with a 50 per cent increase in bidders year over year for this event alone,” said Trent Vandenberghe, regional sales manager, Ritchie Bros. “Leading up to and during the auction we safely welcomed thousands of bidders onsite to inspect items they were interested in. Then they would drive to their home or office to bid from their laptop or phone. This hybrid-style auction, with equipment onsite and 100 per cent of bidding online, provides safety and results. Buyers love the quality of the equipment; they just want more—now is a great time to sell.”
“We’ve been buying and selling with Ritchie Bros. for 20 years. They provide excellent service, are extremely knowledgeable, and will get you the best prices for your equipment,” said consignor Mark Oleksyn, chief operating officer for Mill Creek Sand & Gravel, based in Redwater, Alta.
All items in the auction were sold unreserved and online-only, with equipment stored onsite to help facilitate inspections. The company provided detailed equipment information through its website and mobile application and has also recently launched new data tools and services from RB Asset Solutions and Rouse Services to help customers better understand market pricing.
Approximately 94 per cent of the equipment in the auction was purchased by Canadians, including 53 per cent by Albertans, while international buyers from as far away as New Zealand, France, and the United Arab Emirates purchased the remaining six per cent.
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