Ritchie Bros. hits US$52+ million with latest regional auction success in US Midwest

Apr 02, 2021

Ritchie Bros.' regional auction success continued this week with a US$52+ million U.S. Midwest event on March 30 – 31, 2021. More than 5,000 equipment items were stored, inspected, and sold from six Ritchie Bros. locations in five states—including Chicago, IL; Minneapolis, MN; Kansas City, MO; East St. Louis, MO; Omaha, NE; and Williston, ND—to online buyers across the U.S. and around the world.

More than 11,100 online bidders from 70+ countries registered to bid in the U.S. Midwest auction, with U.S. buyers purchasing approximately 90 percent of the equipment, by dollar value. The remaining 10 percent was purchased by online buyers from as far away as Germany, Guatemala, India, and South Korea.

"We continue to attract record bidder registrations—up 26% compared to the previous event in September—resulting in strong returns for the more than 700 consignors in this auction," said Tim Keane, Regional Sales Manager, Ritchie Bros. "Leading up to the sale, our yards were busy with customers inspecting items and asking questions of our equipment experts, but on auction day everyone was online. We saw a 19% increase in online pageviews and a 12% increase in items added to customer watchlists, demonstrating the power of our hybrid live/online model for both buyers and sellers."

Equipment highlights in the U.S. Midwest auction included a 2016 Caterpillar 745C articulated dump truck that sold for US$235,000 to an online buyer from Alberta, Canada; a 2006 Link-Belt HTC8675 75-ton 8x4x4 hydraulic truck crane sold for US$190,000 to an online buyer from Quebec, Canada; and a 2015 Caterpillar 982M wheel loader that sold for US$175,000 to an online buyer from Minnesota. All items were sold without minimum bids or reserve prices.

AUCTION QUICK FACTS: MIDWEST REGIONAL (MARCH 2021)
Ritchie Bros. will sell more than 39,000 equipment items and trucks in its upcoming auctions, including a Houston, TX auction on April 13 - 14. The company also has weekly featured online auctions at IronPlanet.com and a daily reserved option with Marketplace-E.

Gross Transaction Value (GTV): US$52+ million
Total Registered Bidders: 11,100+
Total Number of Lots: 5,000+
Total Number of Consignors: 700+