Ritchie Bros. to hold UK auction in Donington Park

Ritchie Bros., the global equipment auctioneer, will hold its first unreserved public auction in the UK after the country voted to leave the European Union. New and used equipment from the construction, transportation and agriculture sectors will be on the block at Donington Park, near Nottingham, England, on July 12. A spokesperson for Ritchie Bros., based near Vancouver in Canada, said hundreds of items will be up for sale. He said it will be interesting to see how, if at all, the UK government’s d
July 6, 2016 Read time: 2 mins
8031 Ritchie Bros., the global equipment auctioneer, will hold its first unreserved public auction in the UK after the country voted to leave the European Union.

New and used equipment from the construction, transportation and agriculture sectors will be on the block at Donington Park, near Nottingham, England, on July 12.

A spokesperson for Ritchie Bros., based near Vancouver in Canada, said hundreds of items will be up for sale. He said it will be interesting to see how, if at all, the UK government’s decision to leave the EU affects prices.

In the spring Ritchie Bros. held its first Dubai auction of 2016, selling more than US$41 million of equipment. This was a 54% increase in gross auction proceeds compared to a Dubai sale in March 2015, the company said. The Canadian company shifted more than 2,000 items for over 200 sellers during the two-day unreserved public auction. Around $4.5 million worth of equipment went to on-line bidders.

In February, Ritchie Bros. acquired the online equipment listing service Mascus International Holding for $26.6 million in cash.

The deal gives Ritchie Bros. 100% equity in Mascus which continues to operate under its brand and management. Mascus provides Europe’s largest lists of heavy machinery and trucks. It also offers subscriptions to equipment dealers, brokers, exporters and equipment manufacturers that wish to list equipment for sale.
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