Ritchie Bros. Auctioneers conducted the largest three-day U.S. auction in company history May 27-29 in Orlando, Fla., selling almost $75 million of heavy equipment and trucks during an unreserved public auction at its permanent auction site. The auction attracted more than 2,300 on-site and online bidders from 57 countries, and 49 U.S. states, with 75 percent of the total gross auction proceeds going to bidders from outside Florida. Out-of-country buyers purchased $20 million worth of equipment.
“The size of this auction demonstrates that our consignors have confidence in our unreserved auctions regardless of the local market conditions, and shows that their confidence is well placed,” said Gary Seybold, Ritchie Bros. divisional manager. “We saw active bidding on-site and online, with strong prices as a result. Cranes attracted a lot of international attention. One bidder from Mexico purchased five hydraulic truck cranes over the Internet."
Ritchie Bros. Orlando auction site also hosted the largest auction in company history, a five-day auction in February 2008, grossing $190 million.