After piloting a successful Northeast Regional Auction in June,
the company held four U.S. regional events this month, selling
16,250+ items and attracting 30,000+ bidder registrations
COLUMBUS, Ohio, Sept. 28, 2020 /PRNewswire/ - With its
auctions entirely online due to COVID-19, Ritchie Bros. has pushed for innovation, taking
advantage of the virtual world to combine smaller events into big
auctions. In September, the company combined equipment from 16
locations into 4 U.S. regional events and attracted a staggering
30,000+ bidder registrations.
"We provide customers local service with access to a global
marketplace," said Kari Taylor,
President – North American Sales, Ritchie
Bros. "These regional events are gathering steam and raising
the bar on attendance. The previous bidder record for a
Chicago auction was 5,800—set just
last March—while this week's Midwest auction attracted more than
8,700 bidders. Consignors have access to more bidders and buyers
have more equipment to choose from."
Ritchie Bros.' Heartland Regional
Auction held last week (Sep. 24 – 25)
featured equipment from its Columbus,
OH, and Nashville, TN
sites, as well as five other offsite locations in West Virginia, Alabama, and Texas. More than 3,500 equipment items and
trucks were sold in the combined auction for US$42+ million. The
two-day event attracted 8,000+ bidders, which is a 38% increase
over the previous record for any of these sites when conducting
The company's Midwest Regional Auction (Sep. 22 – 23) featured equipment from its
Chicago, IL; Kansas City, MO; and Minneapolis, MN auction sites. More than 6,100
items were sold for US$45+ million in this two-day combined
auction, which attracted more than 8,750 bidders—a 49% increase
over the previous record set by the Chicago site earlier this spring.
"We are leveraging our operational skills and digital expertise
to boost our audience and build our equipment selection so we can
better serve the market," added Ms. Taylor. "Through the four U.S.
regional events this month we attracted more than 1.5 million page
views, with customers adding 175,000+ items to their watchlists and
making 15,000+ PriorityBids."
The Northeast Regional Auction held on September 16 – 17 was Ritchie Bros.' second combined event for its
North East, MD; North Franklin, CT; and Pittsburgh, PA sites. These three sites set an
attendance record with the first event back in June 2020 and then broke the record again this
month, attracting more than 7,500 bidders from 61 countries.
Earlier in the month the company also held a Mountain West
Regional Auction (Sep. 8) with
equipment from Las Vegas, NV;
Salt Lake City, UT; and an offsite
location in Utah. The auction
featured over 2,500 lots and attracted more than 5,800
More than 2,000 companies and individuals consigned equipment to
these regional auction events, including Midwest Mole from
Greenville, IN and New Jersey-based Aqua-Tex Transport Inc.
"Ritchie Bros.' regional auctions
offer a ton of selection and are bringing strong prices," said CW
Kick, Equipment Manager for Midwest Mole. "I actually wanted to buy
some equipment as well, but the prices were too high. I miss the
community of the onsite sales, but these regional events are
perfect for the environment we are in today."
"The whole process was effortless—we just took our trucks down
to the site and Ritchie Bros. took
care of everything else," said Rick
Berenato, Vice President of Aqua-Tex. "This was our first
time selling with Ritchie Bros. and
they exceeded our expectations."
Ritchie Bros. has several U.S.
regional events already scheduled for October, November, and
December. For a complete list of events, visit rbauction.com. To
consign equipment to an upcoming sale, visit
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
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.,
Photos and video for embedding in media stories are
available at rbauction.com/media.
SOURCE Ritchie Bros.