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

  • Sandvik makes strategic Chinese acquisition
    May 2, 2012
    Sandvik Mining and Construction has bought Shanghai Jianshe Luqiao Machinery Co (SJL), a major Chinese manufacturer of crushing and screening equipment, which sells its products under the SHANBAO brand.
    Read More
  • Kazakhstan’s London road show woos consortia for Almaty ring road
    March 2, 2015
    Kazak and EBRD officials visited London to highlight the possibility of a public-private partnership under the country’s revised PPP legal framework. David Arminas reports. To build a road, you go on the road, and that is what Kazakhstan did in London in mid-December. Representatives of more than 100 organisations, a mix of construction companies and financial institutions, attended the roadshow-style presentation to attract foreign capital for BAKAD, the Almaty Ring Road Concession. The message was that Ka
    Read More
  • Volvo Construction Equipment’s Q1 2015 sales down 5% due to weak Asia sales
    January 6, 2017
    An improvement in European and North American sales could not offset continued weakness in Asia leading to Volvo Construction Equipment sales falling by 5% year-on-year in Q1 2015. Sales in China in particular were less than half what they were in the same period of 2014, the Swedish sector giant said. “We are working to adapt to lower volumes and are implementing a series of measures to reduce cost levels. However, our efforts could not fully offset the significant drop in volumes,” said Volvo Const
    Read More
  • Volvo Construction Equipment’s Q1 2015 sales down 5% due to weak Asia sales
    April 23, 2015
    An improvement in European and North American sales could not offset continued weakness in Asia leading to Volvo Construction Equipment sales falling by 5% year-on-year in Q1 2015. Sales in China in particular were less than half what they were in the same period of 2014, the Swedish sector giant said. “We are working to adapt to lower volumes and are implementing a series of measures to reduce cost levels. However, our efforts could not fully offset the significant drop in volumes,” said Volvo Const
    Read More

Highlighted Content