More than 180,000 bids were placed on the
700,000+ military surplus items available in the auction
LAS VEGAS, Dec. 12, 2018 /PRNewswire/ - It's not every day
you see hundreds of thousands of U.S. military items—including
Humvees, tactical vehicles, uniforms, field gear, and more—sell in
just two days, but Ritchie Bros.' GovPlanet marketplace did exactly
that last week. On December 7 – 8,
GovPlanet sold more than 700,000 military surplus items—packaged up
into approximately 8,400 lots—through two live onsite auctions in
Las Vegas, NV and Atlanta, GA, as well as an online-only auction
at GovPlanet.com.
"We had more than 5,800 bidders from 35 countries place more
than 180,000 bids on the expansive selection of assets sold over
the two-day event," said Doug Feick,
Senior Vice President, New Business and Corporate Development,
Ritchie Bros./GovPlanet. "One item alone—a simple winch—achieved
606 bids from 237 unique bidders! The selection was diverse and
demand was high, with auction attendees from around the world. We
had upwards of 185,000 people who viewed the auction."
The massive military surplus event also included construction
equipment, computer and office equipment, storage and shipping
containers, medical and dental equipment, aircraft parts and other
items owned by the U.S. Department of Defense. Utilizing the full
power of the Ritchie Bros. operation, the company separated out
rolling stock items and sold them through unreserved auctions at
the company's permanent sites in Las
Vegas and Atlanta.
Simultaneously the company sold non-rolling stock items—stored at
one of GovPlanet's two warehouses or one of 70+ U.S. military bases
across the United States—through the company's well-established
GovPlanet website.
"This unprecedented sales event showcased our multichannel
prowess, operational strength, and marketing savvy," said
Ravi Saligram, CEO of Ritchie Bros.
"By utilizing a combination of web platforms and our auction
network, we were able to sell a significant amount of inventory
stored across dozens of locations in just two days. We are
extremely pleased by the record attendance and look forward to
creating a cadence of such events in the future and continue to
drive network effects."
Gross transactional value for the two-day GovPlanet event was
over US$9 million. Specific sales
highlights included 100+ Humvees that sold for a combined
$865,000; a 2011 Caterpillar
120M motor grader that sold for
$177,500 and a 2015 Terex AC40/2
hydraulic truck crane that sold for $130,000. All these items were sold without
minimum bids or reserve prices.
For more information about GovPlanet and their upcoming
auctions, visit GovPlanet.com.
About GovPlanet:
GovPlanet, a Ritchie Bros. solution,
was launched in 2014 to address the specialized equipment
disposition needs of public entities, from federal, including
military, to state, local and municipal. Each week, on average,
GovPlanet draws close to 90,000 attendees to its online auctions.
Items go into preview two weeks in advance and bidders can view
photos, video and inspection reports. All items sold on GovPlanet
have been inspected and come with IronPlanet's exclusive IronClad
Assurance® equipment condition certifications, which
give bidders the confidence to buy online from anywhere in the
world.
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 multitude of sectors, including construction,
transportation, agriculture, energy, oil and gas, mining, and
forestry, the company's selling channels include: Ritchie
Bros. Auctioneers, the world's largest industrial auctioneer
offers live auction events with online bidding; IronPlanet, an
online marketplace with featured weekly auctions and providing its
exclusive IronClad Assurance® equipment condition
certification; Marketplacee, an online
marketplace offering multiple price and timing options; Mascus, a
leading European online equipment listing service; and Ritchie
Bros. Private Treaty, offering privately negotiated sales. The
company also offers sector-specific solutions including GovPlanet,
TruckPlanet, Kruse Energy Auctioneers, and Cat®
auctions, plus equipment financing and leasing through Ritchie
Bros. Financial Services. For more information about the
unprecedented choice provided by Ritchie Bros., visit
RitchieBros.com.
Photos and video for embedding in media stories are
available at rbauction.com/media.
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SOURCE GovPlanet