Ritchie Bros. conducts CA$108 million Canadian auction
Tina Grady Barbaccia | April 27, 2012
Ritchie Bros. Auctioneers conducted the largest equipment auction in Canadian history April 24-26, selling more than CA$108 million (US$110 million) of equipment in Edmonton, AB.
In total, more than 5,600 equipment items and trucks were sold in this three-day auction — another new Canadian record for the company. The previous Canadian equipment auction record for largest gross auction proceeds was CA$93 million (US$78 million), also set in Edmonton, AB in April 2009. Every item was sold to the highest bidder, regardless of price — without minimum bids or reserve prices. Bids were made in the auction on-site, online in real time at www.rbauction.com or by proxy.
More than 6,900 people from 37 countries, including all 10 Canadian provinces and two territories registered to bid in person or online in the auction. Bidders from outside Alberta purchased more than CA$38 million (US$39 million) or 35 percent of total gross auction proceeds. Close to 2,300 of the bidders taking part in the auction registered to bid online and purchased more than CA$38 million (US$39 million) of equipment available online—this is a new Canadian record for online gross auction proceeds.
The equipment in the auction was sold for close to 800 sellers and included more than 350 surplus items from Willbros Canada — Willbros equipment was made available through its exit from the Canadian cross country pipeline construction business. Willbros Canada continues to provide quality services to the oil-sands industry and is a wholly-owned subsidiary of Willbros Group Inc., a global contractor specializing in energy infrastructure serving the oil, gas and power industries.
AUCTION QUICK FACTS: EDMONTON, AB – APRIL 24 – 26, 2012
- Gross Auction Proceeds – CA$108+ million (US$110+ million)
- Amount sold to online bidders – CA$38+ million (US$39+ million) (35 percent)
- Unique bidders (total) – 6,900+
- Unique online bidders – Close to 2,300 (33 percent)
- Lots sold – 5,600+
- Number of sellers – Close to 800
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