EDMONTON, Alta. – Ritchie Bros. are expecting a strong turnout at its next equipment auction April 26-28 in Edmonton, Alta., despite the recent downturn in the province’s economy.
The auctioneers said 2015 saw record participation for its Edmonton auctions, with more than 59,000 total bidder registrations, and this year looks to be no different.
“We help companies buy and sell equipment through all points of the economic cycle,” said Brian Glenn, senior vice-president of Ritchie Bros. “Ritchie Bros. has been conducting auctions in Alberta since the early 1960s. We have long-standing relationships with local contractors. Our unreserved auctions provide them certainty in uncertain times.”
The company’s first Edmonton auction of the year, held in February, brought in over 13,100 bidders, 50% more than a year prior, and a 66% increase in US bidder registration.
“The strength of the US dollar has resulted in continued growth of U.S. bidders participating in our Canadian auctions,” said Trent Vandenberghe, vice-president of Ritchie Bros. “The more interested buyers we can attract to our auctions, the better the results for our sellers.”
The upcoming April auction will see a complete dispersal of Camex Equipment Sales and Rentals’ construction equipment due to the death of the company’s founder.
“The unfortunate and untimely passing of our company founder this past fall has significant tax implications due to our success and growth,” said Wally Taschuk, president of Camex. “We’re selling these assets simply to pay the tax bill due at the end of April. By selling through Ritchie Bros.’ unreserved auctions it ensures that every item will sell, and their ability to tap into the global market ensures we will get top dollar for our assets. There are other auction companies in the Edmonton area, but no one sells to the world like Ritchie Bros. Moving forward, we will continue with our business model and grow and diversify our business.”
Visit rbauction.com/edmonton for more information on the upcoming Alberta auction.
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