Ritchie Bros. Breaks Own Record Again

December 28, 2005 — For the second time this month, Ritchie Bros. Auctioneers, Vancouver, British Columbia, beat its own record for the largest auction ever held in North America. For the week of December 12-16, Ritchie Bros. had gross auction sales of more than $111 million (U.S.). Two-day unreserved auctions were held in Toronto; Los Angeles; and North East, Md., with one-day unreserved auctions held in Las Vegas; Edmonton, Alberta; Phoenix; and Minneapolis.

 

The Edmonton, AB unreserved public auction was one of the larger auctions of the week with gross auction sales of more than $31 million. More than 3,050 people from 15 countries — including 31 U.S. states and 12 Canadian provinces and territories — registered to bid on more than 1,950 lots in the December 15 auction. Bidder registrations included 399 participants who used the Ritchie Bros. online bidding service, rbauctionBid-Live, and accounted for more than $3 million worth of trucks and equipment items. The Internet participants were buyers or runner-up bidders on 16% of the lots available for online bidding. Although it was a one-day auction sale, the company has dual auction ramps at this location that enable a large amount of equipment items to be sold during the day.