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

  • Changing face of global construction industry
    February 28, 2012
    David CA Phillips reports on the changing structure of the global construction equipment industry. In 2007, the year of peak historical demand and before the onset of the international financial crisis, estimated total sales of key equipment types stood at just over 1,000,000 units, valued at approximately US$100 billion. By 2009 sales had fallen to around 600,000 units valued at around $65 billion. The consequences of the global financial recession were dramatic and immediate, and remain with us today, and
    Read More
  • Emergent aggregates market vitality
    March 12, 2014
    New research shows the vital importance of emerging markets to the aggregate production industry, while leading aggregate production equipment manufacturers have brought new cutting-edge models onto the market. Meanwhile, recent equipment purchases are playing a key role in boosting the commercial success of customers in France and Malta. Guy Woodford reports Demand for construction aggregates in the Asia/Pacific and Africa/Middle East regions is fuelling global aggregates sales growth, according to the
    Read More
  • Concrete paving technology offers long term roadway construction
    July 18, 2012
    Concrete slipforming technology offers long term roadway and barrier construction with new technology now available - Mike Woof reports With road construction investment being seen around the world, concrete slipformer manufacturers are seeing strong export sales at present. New models are coming to market also with manufacturers continuing to broaden ranges by offering additional features and capabilities. US concrete paving specialist GOMACO is benefiting from extensive worldwide sales, with its long term
    Read More
  • Cummins first quarter results boosted by accelerating global demand
    May 6, 2021
    Off-road and on-road engine manufacturer Cummins made Q1 revenues of US$6.1bn, a 22% increase on the same quarter in 2020.
    Read More

Highlighted Content