HOUSTON, TX, Aug. 29, 2014 /PRNewswire/ - Ritchie Bros.
Auctioneers (NYSE and TSX: RBA), the world's largest industrial
auctioneer, sold more than US$48
million of heavy equipment and trucks during an unreserved
public auction at the Company's permanent auction site in
Houston, Texas on August 27 & 28, 2014. More than 3,900
registered bidders competed for 3,900+ heavy equipment items and
trucks, including 150+ hydraulic excavators, 130+ truck tractors,
50+ bulldozers, a large selection of oilfield completion, tooling
and transportation equipment, cranes and more. Every item was sold
to the highest bidder, regardless of price—without minimum bids or
reserve prices. Bids were made in the auction on-site, online in
real time at www.rbauction.com and by proxy.
"Everything went really smoothly and prices were strong across
the board," said Alan McVicker,
Regional Sales Manager, Ritchie Bros. Auctioneers. "We had huge
crowds on-site with bidders from more than 60 countries
participating throughout the two days."
More than 3,900 people from 60 countries, including all 50 US
states, registered to bid in person or online in the auction.
Bidders from outside Texas
purchased close to US$25 million or
52 percent of total gross auction proceeds. More than 2,350 of the
bidders taking part in the auction registered to bid online and
purchased more than US$20 million of
equipment online.
One of the sellers of equipment at the auction was Kirkland
Crane & Rigging Inc., based in Huntsville, Texas. Due to the sudden passing
of the owner, his wife, daughter and two sons chose Ritchie Bros.
to dispose of his fleet of more than 330 items. They sold
all-terrain cranes, hydraulic truck cranes, rough terrain cranes
and a large selection of crane accessories.
"This was my father's life and his business for over 36 years
and it was his passion," said daughter Shanna Lammers, who was manager at Kirkland Crane. "We were a family company and so this
has been hard on all of us. But Ritchie Bros. has shown sensitivity
and they took care of everything, from start to finish. It would
have been a monstrous undertaking to sell everything ourselves so
this option really worked best. Our cranes went to buyers from as
far away as Panama, Mexico and New
Delhi and they sold well, with strong pricing. It was pretty
exciting to watch the auction even though it was emotional too. So
after this two-day auction, now we can relax a bit before I venture
off to do something related to my own passion. This auction is
allowing me the opportunity to build my own company, so in the next
few months we'll be transforming the crane yard into a plant
nursery and I'll be coming up with a business name that will pay
homage to my Dad."
AUCTION QUICK FACTS: HOUSTON,
TEXAS - AUGUST 27 & 28,
2014
- Total Gross Auction Proceeds - US$48+ million
- Amount sold to online bidders - US$20+ million
- Registered bidders (in-person and online total) -
3,900+
- Registered online bidders - 2,350+
- Total Lots sold - 3,900+
- Number of sellers - 400+
Consignments for the next unreserved public auction in
Houston (November 12 - 13, 2014) are now being accepted.
To sell your equipment and trucks with Ritchie Bros., please
contact the Houston site at
+1.713.455.5200. The Ritchie Bros. auction calendar currently
features more than 80 unreserved public auctions around the world.
Visit www.rbauction.com for a complete list of upcoming
auctions.
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the
world's largest seller of used equipment for the construction,
transportation, agriculture, material handling, energy, mining,
forestry, marine and other industries. Ritchie Bros.
TM solutions make it easy for the world's
builders to buy and sell equipment with confidence, including live
unreserved public auctions with on-site and online bidding
(rbauction.com), the EquipmentOneTM
secure online marketplace (EquipmentOne.com), a professional
corporate asset management program, and a range of value-added
services, including equipment financing for customers through
Ritchie Bros. Financial Services (rbauctionfinance.com). Ritchie
Bros. has operations in more than 25 countries, including 44
auction sites worldwide. Learn more at RitchieBros.com.
Forward looking statements
This press release may contain forward-looking information. Such
forward looking information involves material assumptions, risks
and uncertainties, certain of which are beyond the control of
Ritchie Bros. Such assumptions, risks and uncertainties include,
without limitation, factors influencing the supply of and demand
for used equipment, fluctuations in market conditions and values of
used equipment, seasonal and periodic variations in operating
results, actions of competitors, the success of the Company's new
initiatives, economic and other conditions in local, regional and
global markets, and other risks and uncertainties as detailed from
time to time in the Company's securities filings. Ritchie Bros.'
actual achievements could differ materially from those expressed
in, or implied by, this forward-looking information and,
accordingly, no assurances can be given that any of the events
anticipated by the forward-looking information will transpire or
occur. Any forward-looking information is made as at the date of
this press release and Ritchie Bros. does not undertake any
obligation to update publicly or to revise any of the included
forward-looking information, except as may be required by
applicable securities laws.
ATTENTION MEDIA: Photos and other media
resources are available for use at
http://www.rbauction.com/media.
Members of the public and the media can follow Ritchie Bros. on
Twitter @RitchieBros.
SOURCE Ritchie Bros. Auctioneers