Ritchie Bros. auction in Dubai passes US$41 million mark

Ritchie Bros. started strong with its first Dubai auction of 2016, selling more than US$41 million of equipment and trucks on March 1-2. This was a 54% increase in gross auction proceeds compared to the March Dubai sale last year, the company said. Around $4.5 million worth of equipment went to on-line bidders. The Canadian company shifted more than 2,000 items for over 200 sellers during the two-day unreserved public auction. "People from 71 countries registered for the auction, with buyers from a
March 3, 2016 Read time: 2 mins
8031 Ritchie Bros. started strong with its first Dubai auction of 2016, selling more than US$41 million of equipment and trucks on March 1-2.

This was a 54% increase in gross auction proceeds compared to the March Dubai sale last year, the company said. Around $4.5 million worth of equipment went to on-line bidders.

The Canadian company shifted more than 2,000 items for over 200 sellers during the two-day unreserved public auction.

"People from 71 countries registered for the auction, with buyers from as far away as Germany, Taiwan and the United States participating in person or online in real time," said Eduard Faig, regional sales manager for Ritchie Bros.

"An international audience helped us achieve solid pricing despite challenges for some of our customers working in the oil and gas sector. In particular, we saw strong demand for the 178 Caterpillar D8R dozers, concrete pump trucks and mobile cranes in the auction."

In total, more than 925 people registered for the auction, including over 400 online bidders. Out-of-country buyers purchased more than $17 million worth of the equipment, a rise of 43% percent on last year. All items were sold with no minimum bids or reserve prices.

Other items included more than 100 excavators, 55 dozers and 40 cranes.

Highlights included four 2012 Caterpillar 740B 6x6 articulated dump trucks that sold for a combined $685,000. Together, two 2012 2394 Volvo A40F 6x6 articulated dump trucks went for $305,000. A 2009 718 Liebherr LTM1160-5.1 160-ton 10x8x10 all-terrain crane sold for $530,000 and a 2007 1175 Zoomlion QY100H-3 100-ton 12x6x6 hydraulic truck crane went for $172,500.

Other items included a 2009 Caterpillar 14M motor grader, for US$152,500, and a 2005 1195 Mercedes-Benz Actros 4140 w/ 2006 4991 Schwing S42SXG concrete pump truck that sold for $152,500 .

Ritchie Bros. next Dubai auction will take place May 24-25.
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