Ritchie Bros. sold more than 10,000 equipment items for more than 1,000 sellers at its global auction in Orlando, Fla., last week.
Some $188 million of equipment and trucks was sold at the five-day event, with approximately 38 percent ($71+ million) selling to online buyers. A record 10,400 people from 88 countries registered to bid in the auction, with buyers from the United States purchasing 79 percent of the equipment and international buyers purchasing 21 percent, from such countries as Germany, Australia, and Vietnam.
"We would like to offer a sincere thank you to all the sellers and buyers that made this sale a huge success," said Ravi Saligram, the company’s CEO. "Our February Orlando auction is a very important event in our auction calendar. Our customers clearly appreciated the diverse line-up of equipment as they turned up in record numbers, helping us achieve strong pricing in all categories throughout the week. As a result, we saw a nine percent increase in total gross auction proceeds over the same auction last year.
"Since we opened our Orlando site in 2003, more than $3 billion of equipment and trucks has been sold through our permanent facility,” Saligram said.
The Orlando auction included at least 610 excavators, 425 compactors, 300 loaders, 300 skid steers, 175 dozers, 140 backhoe loaders, 110 cranes, 440 aerial work platforms, 210 dump trucks, 490 truck tractors, and smaller equipment such as gensets and light towers.
Many Ritchie Bros. customers utilize the February Orlando auction as an annual part of their acquisition and disposal plans.
"We sent things from all over the country here—we brought machines from Chicago, Pennsylvania, and Kentucky," said Chrissy Wolfe, equipment procurement & disposal manager for Walsh Construction. "The Ritchie Bros. Orlando auction is the quintessential kick-off for the auction season. Usually, how equipment pricing trends here is an indication for how the rest of the year is going to go, so that was one of the main reasons we consolidated everything at this auction.”
Of the 10,400 bidders registered for the event, more than half (5,950) were online.