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

  • CECE Congress focuses on future of construction
    April 10, 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
  • Cast iron auction sales with IronPlanet
    January 6, 2017
    Online auction firm IronPlanet (IP) is a business with a truly global marketplace. It generated more than €450 million in 2011 via its worldwide used construction equipment sales. “Being pro-active is the key to what we do,” said managing director Tom Cornell. “Our software tells us who is looking [prior to online auctions] and who has bought similar equipment before and our online sales team rings them up and advises them about which online auctions may have equipment they are looking for. “This means a n
    Read More
  • Cast iron auction sales with IronPlanet
    April 18, 2012
    Online auction firm IronPlanet (IP) is a business with a truly global marketplace. It generated more than €450 million in 2011 via its worldwide used construction equipment sales. “Being pro-active is the key to what we do,” said managing director Tom Cornell. “Our software tells us who is looking [prior to online auctions] and who has bought similar equipment before and our online sales team rings them up and advises them about which online auctions may have equipment they are looking for. “This means a n
    Read More
  • Italian equipment body reveals market concern
    March 5, 2012
    Weak sales of construction machines are reported by the Italian equipment association, UNACEA.Weak sales of construction machines are reported by the Italian equipment association, UNACEA.
    Read More

Highlighted Content