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

  • Looking around the world with bitumen technology
    March 4, 2015
    Russia needs polymer-modified bitumen; the UK is embracing US-style pavement preservation technology and gearing up to import more bitumen; and Italy prepares to export innovative modifying technology; plus a look at the market in Asia Pacific and the Middle East – Kristina Smith reports. The Total Group has announced two recent deals which underline the changing bitumen market around the world. In Moscow, it is constructing a new type of polymer-modified bitumen (PMB) plant in joint venture with Gazprom Ne
    Read More
  • Using aspahlt testing equipment improves efficiency
    May 28, 2013
    From density tests on a Mongolian gold mine project to an all-singing, all-dancing asphalt tester, Kristina Smith reports on some of the latest new products in materials testing. Perhaps understandably, nuclear density gauges can present contractors with some order to move them at all. “One of the problems with nuclear soil gauges is the restrictions on movement,” said John Lamond, Manufacturing. “If you are a contractor projects cross-border, it’s a real challenge to move a nuclear density gauge around.”
    Read More
  • Revenue crash hits giant European contractor STRABAG SE
    November 30, 2012
    One of Europe’s biggest construction groups, STRABAG SE, is facing tough trading conditions with “earnings significantly down,” according to its latest quarter three report. Chief executive Hans Peter Haselsteiner told World Highways that the central and east European specialist is fighting its way through a continuing downturn. “Conditions in the construction sector are becoming more difficult than we have been accustomed to in recent years,” he said. And this has been the case since “our half-year results
    Read More
  • Liebherr posts €8.963.6bn 2013 turnover amid big production site investment
    June 16, 2014
    The Liebherr Group achieved turnover of €8.963.6 billion in 2013 – down 1.4% (€126.6 million) on 2012. The group said the full business year figure was posted against a backdrop of “moderate” international economic progress, with 2013 also seeing €830 million invested by the group in production facilities and its sales and service network. The Liebherr Group’s global workforce also rose again last year by 4% (1,623) to 39,424. In the construction machinery and mining area, turnover in 2013 reached €5,630
    Read More

Highlighted Content