The world’s largest industrial auctioneer, Ritchie Brothers Auctioneers (TSX:RBA) set a record in gross proceeds during a recent two-day public auction of heavy equipment. Most buyers were from outside of Las Vegas, where the auction was held.
LAS VEGAS
The world’s largest industrial auctioneer set a record during a two-day, US$58 million public auction of heavy equipment.
It was the largest the Ritchie Bros. Auctioneers (NYSE and TSX: RBA), has ever conducted at that site in terms of gross auction proceeds. The previous record of US$48 million was set in March 2008.
“This was the most equipment we’ve ever sold in a Las Vegas auction and the large selection generated a lot of attention locally and internationally,” said Jim Rotlisberger, regional manager, Ritchie Bros.
Close to 5,000 bidders from 50 countries, including all 50 U.S. states and 10 Canadian provinces and two territories, registered for the auction either on-site or online.
More than 94 per cent, or US$54.9 million, of the equipment was sold to buyers outside the state of Nevada; more than 32 per cent, or US$19 million, of the equipment was purchased by out-of-country buyers.
DCN NEWS SERVICES
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