Ritchie Bros. Sells $3.8 Billion in Equipment

December 30, 2013

Ritchie Bros. Auctioneers Inc. sold approximately $3.8 billion of equipment at 356 unreserved auctions around the world in 2013. This represents a 3 percent decrease in gross auction proceeds (GAP) compared to the GAP generated in 2012. During the fourth quarter of 2013, the company achieved GAP of $1.1 billion, a record for the fourth quarter and an increase of 10 percent compared to the same quarter of 2012.

"We achieved some notable milestones during 2013," said Peter Blake, CEO of Ritchie Bros. "In Canada, our most established market, we continued to grow and again surpassed gross auction proceeds of over $1 billion. We also held our first auctions in both China and Finland, and reached a new record for online bidders and buyers."

Ritchie Bros. increased its quarterly cash dividend in August 2013, and paid out total dividends during the year of $53.9 million, compared to $50 million in 2012.

The company attracted record online bidder registrations and sold approximately $1.4 billion of equipment, trucks and other assets to online bidders in 2013, an 8 percent increase over 2012 and the highest amount ever sold online by the company in one year.

During 2013 Ritchie Bros. opened three new auction sites. On March 19, the company opened a new permanent auction site in Geelong (Melbourne), Victoria, Australia, the second permanent auction site in Australia. On April 18, the company opened a regional auction site in Beijing, China, the company’s first auction site in China. On Oct. 11, the Company opened a regional auction site in Manchester (Hooksett), N.H. This site was opened to replace the company's prior site in Hartford, Conn.

Ritchie Bros. held its largest auction of the year in Orlando, Fla., from Feb. 18 to 23, breaking the company record for total online sales at one auction, as online buyers generated more than $53 million in GAP, or 31 percent of the $176 million of total GAP generated at the auction.

The Ritchie Bros. website attracted more than 6.3 million unique visitors in 2013, a 12 percent increase compared to last year. The website was viewed over 14.7 million times during 2013, an increase of 15 percent compared to the prior year.