Traffic to Ritchie Bros. auctions appears to signal continued strength in the market for used equipment.
A regional auction in B.C. set a new record last week, selling more than $35 million in equipment, while the U.S. Rocky Mountain event recorded US$65 million (more than $82 million) in sales.
The B.C. event included more than 2,100 items from about 500 consignors, drawing on equipment from yards in Chilliwack, Prince George, and Kamloops. It attracted more than 6,500 bidders from 34 countries.
“Good quality, low-hour equipment continues to bring big money,” said Pat Elliott, regional sales manager in Chilliwack.
About 94% of the equipment was sold to Canadians, with 71% sold to B.C. buyers. International buyers came from as far afield as Guatemala, Egypt and Thailand.
The auctioneer held its largest Canadian auction of the year in Edmonton earlier this month, selling more than 11,000 pieces of equipment for a collective $204 million.
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