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

  • Portugal's road safety initiative
    April 12, 2012
    The Portuguese experience with road safety has proved that planning, development, introduction, and hard work do pay off in the end. Paulo Marques Augusto, president of the National Road Safety Authority (ANSR), explained that in the last 10 years a decrease of over 50% has been achieved in the number of fatalities on the road network despite a continuing growth in traffic demand (there are five million vehicles in Portugal), and a similar reduction in travel time on most of the connections between Lisbon a
    Read More
  • Prices strong at Euro Auctions as A-Plant sale in Leeds
    August 5, 2015
    Euro Auctions reported that it has held the largest one-owner sale in the UK this year, for Ashtead Plant Hire (A Plant) selling more than 800 lots. The auction, held in the city of Leeds on July 22, was the fourth sale that Euro Auctions has conducted for A-Plant and customers were bidding from more than 40 countries. More than 33% of bidding activity was online. David Betts, from Euro Auctions, said the sale catalogue consisted of more than 45 excavators, over 25 rollers, 70 tele-handlers, 80 dumper
    Read More
  • Renishaw completes acquisition of laser measurement specialists MDL
    February 5, 2013
    Global engineering technology firm Reinshaw now has full ownership of UK-based Measurement Devices Ltd (MDL), following the purchase of an outstanding 34% shareholding for US$7.07 million (£4.5mn). The acquisition of the shares concludes an agreement reached in 2010, when Renishaw purchased an initial 29% stake in MDL, the designers and manufacturers of high speed laser measurement and surveying systems for use in extreme conditions. Steve Ball, the founder of MDL, will be leaving the company, whilst Elaine
    Read More
  • Successful Eurobitume conference in Istanbul
    June 26, 2012
    The Eurasphalt & Eurobitume 2012 event in Turkey has attracted record attendance figures - Mike Woof reports A strong focus on sustainability has been the focus for the 5th Eurasphalt & Eurobitume Congress held in June 2012 at Turkey’s Istanbul Lutfi Kirdar Congress Centre. The conference had as its theme: Asphalt, the sustainable road to success and attracted the highest ever number of attendees for this four yearly event. In one of the opening presentations Turkey’s transport minister, Binali Yildirim, sp
    Read More

Highlighted Content