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Ritchie Bros. Sells More Than $95 Million of Equipment
Ritchie Bros. Auctioneers conducted its largest two-day auction in Company history in Edmonton, Alberta, on October 29-30, 2013. More than 5,850 equipment items and trucks were sold in the public auction for more than $95 million – all equipment was sold by unreserved auction, with no minimum bids or reserve prices. Multiple Ritchie Bros. records were set at this auction, including highest gross auction proceeds and most items sold in a two-day auction globally, most items ever sold in any Canadian auction and most sellers ever at any auction globally. Bids were made in person, online and by proxy. “This is our fifth Edmonton auction of the year and usually our October auction is our second biggest sale next to our three-day April auction, but it's never been this big before – to sell more than 5,850 equipment items and trucks in two days is unheard of,” said Jim Rotlisberger, regional sales manager, Ritchie Bros. Auctioneers. “At this time of year many contractors are changing gears – selling off equipment used in the summer and getting new gear for the winter season. In this week's auction we witnessed strong competition for equipment in all categories from bidders around the world, which helped us achieve global market value for our sellers.” “This was our first time selling with Ritchie Bros. and we would absolutely sell with them again,” said Ed Wrzesien, director & CFO for Pipe-Watch Inc. “Our equipment received bids from on site in the auction theater and around the world through online bidding. The power of Ritchie Bros. online bidding cannot be overstated as it opens the auction up to a whole new market—a much larger audience of potential bidders. Throughout the entire selling process, Ritchie Bros. was open, honest and professional—everything went smooth and was done as expected."
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