On-Site Magazine
News

Ritchie Bros. Reach Record Numbers in 2014


Print this page

January 3, 2015 by STAFF REPORT

Richie Bros. Auctions break records in 2014
Richie Bros. Auctions break records in 2014

Ritchie Bros. Auctioneers sold $4.2 billion worth of equipment through 349 unreserved auctions and its online equipment marketplace during 2014.

This is a new annual record for Ritchie Bros., and represents a 10.5 per cent increase in gross auction proceeds compared to 2013. During the fourth quarter of 2014, the company achieved gross auction proceeds of $1.2 billion, a record for the fourth quarter and an increase of 11.7 per cent compared to the previous fourth quarter record achieved last year.

“We’re pleased to have achieved a new annual record of $4.2 billion in Gross Auction Proceeds in 2014, as well as a new annual record of $1.8 billion of online sales,” said Ravi Saligram, Chief Executive Officer. “We’re focusing on how to cater to the unique needs and preferences of specific sectors, and exploring ways to broaden our relationships with our customers. These activities will further solidify our leading market position and expand our global full service offering.”

The Canadian Numbers

The Canadian arm of the operation set new records as well selling more than CA$1.4 billion of equipment and trucks in Canada during 2014. Other Canadian milestones reached in 2014 include:

  • Ritchie Bros. Edmonton, AB auction site sold more than 32,500 equipment items for more than $569 million during the year, a 29 percent increase.
  • The company held its largest Canadian auction ever in Edmonton, AB, selling more than $143 million of equipment in three days during an April sale.
  • The Edmonton April auction also set new company-wide records for online gross auction proceeds ($64 million), total number of registered bidders (more than 9,400) and number of buyers (more than 2,600).
  • Ritchie Bros. also held its largest ever auctions in Chilliwack, BC (October 15) and Toronto, ON (December 8–9) in 2014

Online sales

Ritchie Bros. attracted record online bidder registrations and sold approximately $1.8 billion of equipment, trucks and other assets to online auction bidders and EquipmentOne customers in 2014, a 17.5 per cent increase over 2013 and the highest amount ever sold online by the company in one year.

Established in 1958, Ritchie Bros. is the world’s largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. has operations in more than 25 countries, including 44 auction sites worldwide.

Industrial Auction Metrics:

 

YE Dec. 31, 2014

YE Dec. 31, 2013

Number of industrial auctions

233

245

Bidder registrations

463,500

425,000

Buyers

112,900

104,550

Consignments

45,300

43,550

Lots

319,500

301,000

Average Industrial Auction:

 

YE Dec. 31, 2014

YE Dec. 31, 2013

Gross auction proceeds (GAP)

US$16.4 million

US$14.3 million

Registered bidders

1,990

1,740

Consignors

190

180

Lots

1,370

1,230


Print this page



Related




Have your say:

Your email address will not be published. Required fields are marked *

*