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Construction Equipment Auction Sets Records


RR022819 RitchieBros logoFeb. 28, 2019 – A sea of equipment stretched across the 220-acre Ritchie Bros. auction site in Orlando last week as the company hosted its largest auction ever. Over six days the company sold more than 13,350 assets for a record $297 million – up 7 percent from last year's $278 million total.

The massive selection of equipment attracted more than 15,900 people from 88 countries setting a new site record, including 11,300 bidders participating online in real time from around the world. At the end of the six-day event, approximately 84 percent of the assets were purchased by buyers from outside Florida, showcasing the auction's wide appeal. 

U.S. buyers purchased 85 percent of the equipment, while international buyers from countries such as Australia, China, Colombia, Germany, Nigeria, and the United Arab Emirates purchased 15 percent. Online buyers purchased approximately 49 percent of the equipment. 

"We had a great week in Orlando, helping more than 1,150 companies sell their surplus equipment to buyers from nearly every corner of the world," said Ravi Saligram, chief executive officer, Ritchie Bros. "Orlando is the Super Bowl of auctions and our team was prepared and performed tremendously, helping us set multiple company records, including our largest ever gross transactional value (GTV) and the most equipment we've sold in one auction in 60-plus years of business. On day five alone we sold approximately 2,300 items for more than $82 million – the largest single auction day in our history!"