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.

Canadian buyers scooped up 89% of the equipment. Alberta bidders accounted for 58% of the sales to Canadian buyers, followed by British Columbia (12%), and Saskatchewan (9%). But buyers also came from as far afield as Egypt, Poland and Hong Kong.

The latest auction at a glance

• Gross transactional value – $66+ million
• Amount sold to online bidders – CA$47+ million
• Total registered bidders (onsite and online) – 7,850+
• Online registered bidders – 5,850+
• Number of lots sold – 4,500+
• Number of sellers – 698