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.
Finance & Funding

For more information on companies in this article

Related Content

  • CECE Summit 2018: Single-minded towards a single market
    November 22, 2017
    This year’s theme at the CECE Summit in Brussels was Industry and Politics: a historic transformation process The EU’s internal market must become truly a single market as well as a digital one. But there are storm clouds on the horizon. Europe’s single market is either threatened by political events of the past several years or about to become more secure because of it. That was the nub of an impassioned economic forum panel discussion.
    Read More
  • Caterpillar’s strong financial performance for 2017
    January 26, 2018
    Caterpillar has announced strong fourth-quarter and full-year results for 2017. Sales and revenues in the fourth quarter of 2017 were US$12.9 billion, compared with $9.6 billion in the fourth quarter of 2016. Fourth-quarter 2017 loss was $2.18/share, compared with a loss of $2/share in the fourth quarter of 2016.
    Read More
  • Don't buy, subscribe instead... and stay ahead of the pack
    September 19, 2024
    The traditional way of doing things is to own the construction equipment you need on site. You can buy, or you can rent. You mix and match your technology needs with what is happening on site and your costs go up and down accordingly. However, a new model is emerging: Subscriptions. Take out a flat-fee plan and let someone else make sure you can get access to the latest thinking and the cleverest technology. Pete Kennedy reports.
    Read More
  • US construction machinery exports gain 28%
    February 10, 2012
    The market for exports of US-made construction machinery closed out 2010 with a gain of more than 28% compared to the previous year, for a total of $16.4 billion dollars’ worth of equipment sold worldwide, according to the Association of Equipment Manufacturers (AEM).
    Read More

Highlighted Content