3,700+ equipment items sold from five locations for US$50+ million in gross transaction value

CHEHALIS, Wash., Dec. 27, 2022 /CNW/ - Last week, Ritchie Bros. conducted its largest auction ever in the Pacific Northwest, selling 3,700+ items from five locations in one online auction and generating US$50+ million in gross transaction value.

The December 21, 2022, event attracted 8,200+ bidders from 40+ countries, with approximately 95% of the equipment purchased by U.S. buyers, including 33% sold to Washington buyers, 22% to Oregon, and 8% to California. The remaining 5% of the equipment was sold to international buyers from as far away as Vietnam, Saudi Arabia, and the Netherlands.

"Our regional auction events continue to grow thanks to the success of our satellite yard program, which provide our sellers more locations to store and display equipment for potential buyers," said Griffin Squires, Regional Sales Manager, Ritchie Bros. "With equipment at physical sites, customers can inspect, compare, and test items prior to bidding online. That ability to 'kick the tires' in person combined with our robust online platform provides convenience for buyers and access to a large global buyer base for sellers."

Approximately 88% of the assets in the Pacific Northwest auction were sold from Ritchie Bros.' permanent site in Chehalis, WA, while the remaining 12% was sold from yards in Spokane, WA; Billings, MT; Lake Point, UT; and Wasilla, AK.

Mr. Squires continued, "Many of our consignors benefitted by dropping their equipment off at one of our sites early so we had plenty of time to market their assets to buyers around the world. The more time we have, the more eyes we can get on your equipment. If you have assets to sell, we have a multitude of solutions to meet your needs—contact us today!"

Equipment highlights in the Pacific Northwest event included 180+ excavators, 175+ truck tractors, 70+ aerial work platforms, 45+ wheel loaders, 35+ dozers, and more. All equipment was sold without minimum bids or reserve prices.

Five Big Sellers from the Pacific Northwest

• 2008 Liebherr LTM11130-5.1 143-ton 10x10x6 all-terrain crane – US$400,000
• 2019 John Deere 950K LGP dozer – US$390,000
• 2017 Komatsu PC800LC-8EO VG hydraulic excavator – US$390,000
• 2020 Komatsu HM400-5 articulated dump truck – US$340,000
• 2017 KPI-JCI FT2650 jaw crushing plant – US$305,000

AUCTION QUICK FACTS: PACIFIC NORTHWEST (DECEMBER 2022)

• Gross transaction value: US$50+ million
• Number of items sold: 3,700+
• Number of consignors: 500+
• Number of bidders: 8,200+

Ritchie Bros. currently has 30,000+ items listed to be sold in its upcoming auctions and online marketplaces. For a complete list of events, visit rbauction.com.

About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance^® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Ritchie Bros. Energy. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

View original content:https://www.prnewswire.com/news-releases/satellite-yards-enable-ritchie-bros-largest-auction-ever-in-the-pacific-northwest-301710077.html

SOURCE Ritchie Bros.

View original content: http://www.newswire.ca/en/releases/archive/December2022/27/c1627.html