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

  • Construction equipment launched at Bauma China
    February 15, 2012
    The 2010 bauma China event did, as expected, break all previous records, with companies launching more new equipment than ever. Patrick Smith reports. The queues at the entrances on the first day of bauma China 2010 indicated what the rest of the week had in store. As thousands of visitors poured through the gates each day to view the latest in construction equipment at the expanded Shanghai New International Expo Centre, the organisers knew they were looking at another successful event.
    Read More
  • Terex looks for internal growth and strong margins
    January 6, 2017
    Terex Corporation chairman and CEO Ron DeFeo is predicting strong growth over the next three years, with the aim of US$10bn revenues by 2015, up from $7.3bn in 2012. However, unlike so often in the past, he is not looking for acquisition but to develop the existing business. Indeed, the company has recently sold off much of its road construction business, as it was struggling to expand that division.
    Read More
  • Terex looks for internal growth and strong margins
    April 17, 2013
    Terex Corporation chairman and CEO Ron DeFeo is predicting strong growth over the next three years, with the aim of US$10bn revenues by 2015, up from $7.3bn in 2012. However, unlike so often in the past, he is not looking for acquisition but to develop the existing business. Indeed, the company has recently sold off much of its road construction business, as it was struggling to expand that division.
    Read More
  • Cummins reports strong performance for first quarter
    May 3, 2023
    Cummins is reporting a strong performance for first quarter of 2023.
    Read More

Highlighted Content