US$44+ million of equipment sold in Ritchie Bros.' Las Vegas, NV auction

Approximately 85% of bidders participated online, purchasing 61% of the assets in the auction

LAS VEGAS, March 16, 2020 /PRNewswire/ - Last week in Vegas Ritchie Bros. sold more than 2,750 equipment items and trucks for US$44+ million, with approximately 61% of purchases made by online buyers.

More than 6,800 people from 55 countries registered to bid in the two-day Las Vegas sale (March 12 – 13, 2020)—setting a new Las Vegas site record—this included 5,800+ online bidders. Approximately 86% of the equipment was purchased by buyers outside the state of Nevada, including international buyers from as far away as Japan, Peru, and the United Kingdom.   

"With CONEXPO/CON-AGG running concurrently with our auction we expected to see a large percentage of online buyers and were happy to see 24% of online purchases were made through our mobile application," said Bill Walton Jr., Vice President – Sales, Ritchie Bros. "Our Las Vegas auctions held during CONEXPO are always fantastic and this year did not disappoint, with our biggest crowd ever, a great lineup of gear, and solid prices."

Equipment highlights in Ritchie Bros.' Las Vegas auction included 225+ truck tractors, 135+ excavators, 100+ loaders, 70+ skid steers, 50+ loader backhoes, 85+ aerial work platforms, and more. Specific sales highlights included a 2008 Caterpillar D10T dozer that sold for US$365,000; a 2017 Caterpillar 982M wheel loader that sold for US$215,000; and an unused 2020 Kenworth T880 mixer truck that sold for US$187,500—all proceeds from the sale of the Kenworth mixer truck are being donated to St. Jude Children's Research Hospital, Wounded Warrior Project, Make-A-Wish Foundation, and the Ronald McDonald House in Rochester, MN.    

AUCTION QUICK FACTS: LAS VEGAS, NV (March 2020)

• Total gross transactional value – US$44+ million
• Amount sold to online bidders – US$27+ million
• Total registered bidders (in person and online) – 6,800+
• Registered online bidders – 5,800+
• Total lots sold – 2,750+
• Number of sellers – 495+

Ritchie Bros. currently has more than 70,000 equipment items, trucks, and other assets listed for sale through its auctions and marketplaces. For a complete list of upcoming auctions and equipment available, visit rbauction.com and ironplanet.com.

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company's suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

SOURCE Ritchie Bros.

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