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

  • Ritchie Bros. Dutch auction offers more than 1,430 heavy equipment items
    November 20, 2012
    Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, will sell more than 1,430 heavy equipment items and trucks at its next unreserved public auction in Moerdijk, The Netherlands. The auction on November 22-23, 2012, will feature more than 85 excavators, 60 compactors, 50 wheeled loaders, 10 dozers and hundreds of other items used in the construction, mining, transportation and other industries.
    Read More
  • Record for construction equipment auction
    February 16, 2012
    Euro Auctions experienced its strongest sale results ever at the recent unreserved auction at its site in Leeds in the UK. With 3,661 lots for auction at one sale, it was a record for the firm, with the hammer price climbing 5% up on the previous high at the site. The sales strength of the auction shows the increasing demand for used plant in the market.
    Read More
  • Rich pickings at Ritchie Bros auctions until end of year
    October 30, 2014
    A delayed mine expansion project has pushed thousands of new and used equipment onto the market to be sold by global auctioneers Ritchie Brothers by the end of the year. Steve Simpson, chief sales officer for Ritchie Bros., based in Vancouver, western Canada, said the company aims to sell more than 30,000 items at over 50 unreserved auctions around the world. Highlights include more than 950 compactors, over 800 excavators, as well as several hundred wheel loaders, crawler tractors, loader backhoes an
    Read More
  • Auction strength
    April 4, 2014
    Positive news comes from equipment auction specialists Ritchie Bros and IronPlanet. Ritchie Bros reports strong performance for its online construction machinery marketplace, EquipmentOne, in the first year since the service was set up. The service was initially launched in early 2013 and had a full commercial launch in April. The Marketplace already has hundreds of thousands of qualified members around the world. Sellers can make their own listings or work with Ritchie Bros to create listings including equ
    Read More

Highlighted Content