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Ritchie Bros. construction equipment auction generates record proceeds

Journal Of Commerce

Ritchie Bros. Auctioneers recently conducted a $58 million unreserved public auction at its site in Edmonton, Alberta.

Ritchie Bros. Auctioneers recently conducted a $58 million unreserved public auction at its site in Edmonton, Alberta.

The auction brought the total 2009 gross proceeds generated by that site to $392 million, which is the most equipment ever sold at a Ritchie Bros. auction site in one year.

“We conducted a record six auctions at our Edmonton site this year to meet the needs of our customers,” said Jake Lawson, Ritchie Bros. regional manager.

“We had a wonderful lineup of late model equipment in this auction… Prices appear to have firmed up and there’s a good degree of optimism in the market.”

More than 4,600 people from 18 countries registered to bid on more than 3,500 equipment items sold at the auction. Bidders from outside Alberta purchased 39 percent of all the equipment sold.

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