More than US$31+ million in pipelayers sold in the massive
two-day auction this week
COLUMBUS, OH, Sept. 30, 2016 /CNW/ - This week Ritchie Bros. conducted its largest-ever two-day
auction in the United States. More
than 3,400 equipment items were sold in Columbus, OH on September 28 – 29 for US$76+ million.
Approximately US$61+ million of the equipment was sold on Day One
of the auction—the largest single sale day the company has ever had
in the United States.
(Photo: http://photos.prnewswire.com/prnh/20160930/413716)
As the pipeline construction event of the year, with 175+
crawler pipelayers and other equipment up for sale, bidders turned
out in huge numbers on-site and online from around the world. More
than 3,600 bidders from 52 countries registered to bid in the
auction, including 2,500+ online—surpassing the previous
Columbus attendance record by 36
percent. Approximately 91% of the equipment was purchased by U.S.
buyers, including 21% purchased by Ohio buyers. International buyers purchased
approximately 9% of the equipment from such countries as
Singapore, South Africa, and The Netherlands.
"This was a truly unique event—it's not often you sell US$31+
million in pipelayers in a single auction," said Terry Dolan, President (USA & Latin
America), Ritchie Bros. "This
week we showcased our ability to build and market a successful
pipeline event and reach the right buyers from around the world,
even with the current state of the oil & gas market. This
wasn't just a Columbus auction;
this was a global event. We attracted equipment from consignors
across the United States, marketed
it to the world, generated strong demand and pricing, and achieved
record results."
Beside the massive selection of pipelayers, the auction also
featured 135 excavators, 110 dozers, 235+ truck tractors, 210+
trailers, and much more. Equipment in the auction was sold for 265+
owners, including 70+ items for Denver,
CO-based Cross Country Pipeline Supply Company, Inc.
"We've been selling and renting equipment to pipeline
contractors for 35 years," said John
James, President of Cross Country Pipeline Supply. "We were
looking to liquidate some of our surplus equipment. We talked to
Ritchie Bros. and their competition,
but felt Ritchie Bros. was the best
route because of their expertise in marketing to people in our
industry. Turnout at the auction was great and overall we ended up
with better results than we expected."
Specific equipment highlights included:
- 15 Caterpillar 583T crawler pipelayers sold for a combined
US$7.62 million
- 14 Caterpillar 594H crawler pipelayers sold for a combined
US$3.795 million
- Five 2008 Caterpillar 572R series II crawler pipelayers sold
for a combined US$1.725 million
- Two 2008 Caterpillar 587T crawler pipelayers sold for a
combined US$1.4 million
- Eight 2012 Caterpillar D8T crawler tractors sold for a combined
US$2.58 million
- Three Caterpillar D7E crawler tractors sold for a combined
US$860,000
AUCTION QUICK FACTS: COLUMBUS,
OH – SEPTEMBER 28 – 29,
2016
- Total Gross Auction Proceeds – US$76+ million *new
site record
- Amount sold to online bidders – US$26+ million *new
site record
- Total registered bidders (in person and online) – 3,600+
*new site record
- Registered online bidders – 2,500+*new site
record
- Total lots sold – 3,400+ *new site record
- Number of sellers – 265+ *new site record
About Ritchie
Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's
largest industrial auctioneer, and one of the world's largest
sellers of used equipment for the construction, transportation,
agriculture, energy, mining, forestry and other industries.
Ritchie Bros.TM
asset management and disposition solutions include live unreserved
public auctions with on-site and online bidding;
EquipmentOneTM, an online auction
marketplace; Mascus, a global online equipment listing
service; private negotiated sales through Ritchie Bros. Private Treaty; and a range of
ancillary services, including financing and leasing through
Ritchie Bros. Financial Services.
Ritchie Bros. has operations in 19
countries, including 45 auction sites worldwide. Learn more at
rbauction.com, EquipmentOne.com, mascus.com,
rbauction.com/privatetreaty and rbauction.com/financing.
Photos and video for embedding in media stories are
available at rbauction.com/media.
SOURCE Ritchie Bros.
Auctioneers