Company continues to break records since moving onsite auctions
all online due to COVID-19
CHILLIWACK, BC, Oct. 19, 2020 /PRNewswire/ - With online
attendance at an all-time high, Ritchie
Bros. conducted another record-breaking auction last week.
Over two days the company sold 1,600+ equipment items and trucks in
Chilliwack, B.C. for CA$34+
million (US$26+ million), surpassing the previous site record by 39
More than 6,400 online bidders from 44 countries registered for
the October 14 – 15, 2020 Chilliwack
auction. Approximately 89 percent of the items in the auction were
sold to Canadian buyers, including 72 percent purchased by B.C.
buyers. The remaining 11 percent was sold to international buyers
from as far away as Australia,
Vietnam, and the United Kingdom.
"This auction was built around a fantastic lineup of forestry
equipment, which attracted additional consignors and a lot of buyer
attention from around the world," said Pat
Elliott, Regional Sales Manager, Ritchie Bros. "The forestry sector has been
under pressure, but we were still able to achieve strong results
for sellers. A majority of the equipment ended up staying in
Canada, but international buyers
helped drive up pricing."
Leading up to the auction, Ritchie
Bros.' Chilliwack webpage
received 223,000+ unique pageviews, close to 30,000 watchlist adds,
and 9,900+ PriorityBids for the 1,600+ items in the auction. Sales
highlights included a 2020 Tigercat LS855E tilter hoe chucker log
loader that sold for CA$670,000; a 2019 Tigercat LX830D tilter
feller buncher that sold for CA$620,000; and a 2018 Tigercat 880D
processor that sold for CA$525,000.
Equipment was sold more than 375 owners in the online-only
Chilliwack auction, including a
large selection of forestry equipment for Don Bahen and Mary
DeLury of Island Fibre, Ltd.
"Ritchie Bros. has transitioned
extremely well to a fully online auction experience," said
"At the same time, it's the personal relationships,
professionalism, and global reach that makes them stand out," added
Mary DeLury. "Our relationship with
Ritchie Bros. is very valuable to us
and we are grateful for their help."
AUCTION QUICK FACTS: CHILLIWACK,
B.C. (October 2020)
- Total gross transactional value – CA$34+ million (US$26+
million) *new site record!
- Total registered bidders – 6,400+
- Total lots sold – 1,600+
- Number of consignors – 375+
Ritchie Bros.' next Chilliwack auction will be held in
December 2020. For more information
about Ritchie Bros., 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.