Ritchie Bros.

Tight equipment supply at Edmonton auction

EDMONTON, AB - Ritchie Bros.' Edmonton auction house sold $553 million in equipment this year, dropping the hammer last week on the sixth and final sale of 2017. "Online and onsite bidders were eager to snatch up equipment for winter work, resulting in strong pricing both days of the auction last week," said Trent Vandenberghe, sales director. "We continue to see relatively tight equipment supply as many companies are hanging on to surplus equipment in anticipation of upcoming projects. This continues to result in higher demand at our auctions and an uptick in pricing across many equipment categories." More than 4,500 pieces of equipment and trucks were sold for $66 million at the most recent auction, which attracted more than 7,850 bidders. About 5,850 of the bidders were online, and secured 71% of the available equipment.

Everything Sells: The Ritchie Bros. auction begins

EDMONTON, AB - Everything sells. It's a firm rule at Ritchie Bros. Auctioneers, and there is plenty on hand for the highest bidder. About 10,600 pieces of equipment will move through the company's sprawling Edmonton complex this week, easily setting a sales record and eclipsing last April's numbers by about 35%. Trucks dominated most of the sales on Tuesday, when close to 10,000 bidders had already registered for a piece of the action. Equipment such as cranes, rock catchers, and trailers will follow.