Auction firm Ritchie records record sales of equipment

Ritchie Bros Auctioneers sold some US$3.8 billion of equipment at 356 unreserved auctions around the world in 2013. This is a 3% decrease in gross auction proceeds (GAP) compared to the record set in 2012. During the fourth quarter of 2013, the firm achieved gross auction proceeds of $1.1 billion, a record for the fourth quarter and an increase of 10% compared to the same quarter of 2012. "We achieved some notable milestones during 2013," said Peter Blake, CEO of Ritchie Bros. "In Canada, our most establi
December 20, 2013 Read time: 2 mins
318 Ritchie Bros Auctioneers sold some US$3.8 billion of equipment at 356 unreserved auctions around the world in 2013. This is a 3% decrease in gross auction proceeds (GAP) compared to the record set in 2012. During the fourth quarter of 2013, the firm achieved gross auction proceeds of $1.1 billion, a record for the fourth quarter and an increase of 10% compared to the same quarter of 2012.

"We achieved some notable milestones during 2013," said Peter Blake, CEO of Ritchie Bros. "In Canada, our most established market, we continued to grow and again surpassed gross auction proceeds of over $1 billion. We also held our first auctions in both China and Finland, and reached a new record for online bidders and buyers. In fact, our online bidders purchased more than $1.4 billion of equipment in 2013, or approximately 37% of our total sales.”

"Having made important investments in our auction platform over the last several years, our worldwide network of 44 sites is now extremely well equipped to handle expanding auction volumes. Our focus going forward is on driving growth in gross auction proceeds to deliver the earnings leverage that exists in our model."
Finance & Funding

Related Content

  • STRABAG sees profits grow
    April 29, 2016
    Construction company STRABAG has seen its financial performance improve during the 2015 financial year. The firm’s earnings before interest and taxes (EBIT) reached €341.04 million, an increase of 21% over the previous year. Double-digit growth was also achieved in net income (after minorities), with a gain of 22% to €156.29 million, while earnings/share grew from €1.25 to €1.52. These developments have compelled the management board to propose to the AGM planned for June 2016 a dividend of €0.65, which wil
    Read More
  • Putin orders doubling road-building in Russia by 2022
    November 21, 2014
    Russia looks set to accelerate its road building programme – Eugene Gerden writes The volume of road building in Russia should be doubled by 2022, according to a recent order of Russia’s president Vladimir Putin. He said, “We need a real breakthrough in road building during the next several years. These volumes should be doubled during the coming decade.”
    Read More
  • Volvo Construction Equipment sales down 7% in Q3 2013
    October 25, 2013
    Volvo Construction Equipment (CE) sales fell 7% to US$1.929 billion (SEK 12,278 million) in Q3 2013, compared to $2.085 billion (SEK 13,272 million) the same period of last year. The global construction equipment manufacturing giant said the sales dip in July-September 2013 reflects the general downward trend in market conditions. This included lower activities in the global mining industry, which particularly hit sales of large and more expensive products.
    Read More
  • VDMA bullish
    March 5, 2012
    A positive outlook of business has been revealed by the German equipment manufacturers association, the VDMA.
    Read More

Highlighted Content