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

  • JCB bullish for anniversary
    February 28, 2012
    JCB has marked its 65th anniversary and is reporting a strong recovery from recession.
    Read More
  • Ritchie Bros opening Chinese auction operations
    November 29, 2012
    Auction firm Ritchie Bros is planning to hold its first unreserved public auction of construction machinery at the Beijing Tianzhu Free Trade Zone during Spring 2013. Ritchie Bros has leased land in the Tianzhu Free Trade Zone (Shunyi, Beijing), located close to Beijing Capital International Airport, the Tianzhu Free Trade Zone is connected to one of China's largest roll-on, roll-off ports in Tianjin.
    Read More
  • CECE Congress focuses on future of construction
    May 8, 2012
    The bi-annual CECE Congress was held in Spain when participants looked forward in a bid to see what will happen in the next ten years. Growth markets such as China, India and Brazil offer big opportunities to European construction equipment manufacturers. As companies, particularly those from China, start to expand outside their own countries the competition for business will increase, and it has been claimed that there is no such thing as 'the global market', rather it is the sum of hundreds, if not thousa
    Read More
  • UK equipment exports and imports continue upwards trend
    August 24, 2017
    UK exports of construction and earthmoving equipment continued its upward trend in Q2 of 2017, showing growth for the fourth consecutive quarter. Overall, Q2 2017 levels were the highest for two years, since Q2 2015, according to the latest quarterly report from the UK’s CEA – Construction Equipment Association. Exports in Q2 2017, increased by 5.3% in weight terms (tonnage of machines) compared with Q1 2017 and 2% in monetary terms, reaching nearly €777 million (£714 million).
    Read More

Highlighted Content