EDMONTON, Alta. – If recent auction results can be taken as a bellwether, the market for used trucks appears to be strong in Alberta.
In its first Canadian auction of 2014, Ritchie Bros. Auctioneers sold nearly 3,800 pieces of equipment and trucks over the past two days, racking up a sales total of more than $57 million. All items were sold unreserved, without minimum bids or reserve prices.
“Pricing was solid and bidding was very active throughout the two-day auction,” said Jim Rotlisberger, regional sales manager, Ritchie Bros. Auctioneers.
According to the company, a large portion of the items sold were oilfield hauling equipment. Construction trucks and other heavy equipment also played a key role in the auction.
“In particular we witnessed strong demand for the heavy yellow iron in the auction—wheel loaders, motor graders, crawler tractors and excavators—as well as the bed and rig moving trucks. It was our first time holding an auction in February and even though it was very cold this week in Edmonton, our onsite attendance was still strong. We saw good participation both onsite and online, with 41% of the equipment purchases made by online buyers,” said Rotlisberger.
Ritchie Bros. said while it had 5,500 online and in-person bidders from 49 countries, including all Canadian provinces, two Canadian territories and 37 US states, the majority of buyers were from Alberta with over $42.5 million in sales originating from people who are from the province. Online buyers accounted for $23 million in sales.
The company’s next Edmonton auction takes place in April.