Last week, Ritchie Bros. conducted its largest auction ever in the Pacific Northwest, selling 3,700+ items from five locations in one online auction and generating $50+ million in gross transaction value. The December 21, 2022, event attracted 8,200+ bidders from 40+ countries, with approximately 95% of the equipment purchased by U.S. buyers, including 33% sold to Washington buyers, 22% to Oregon, and 8% to California. The remaining 5% of the equipment was sold to international buyers from as far away as Vietnam, Saudi Arabia, and the Netherlands. "Our regional auction events continue to grow thanks to the success of our satellite yard program, which provide our sellers more locations to store and display equipment for potential buyers," said Griffin Squires, Regional Sales Manager, Ritchie Bros. "With equipment at physical sites, customers can inspect, compare, and test items prior to bidding online. That ability to ‘kick the tires’ in person combined with our robust online platform provides convenience for buyers and access to a large global buyer base for sellers."
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on RBA:
- Ritchie Bros., IAA announce expiration of HSR Act waiting period
- Ritchie Bros. and IAA Announce Receipt of Regulatory Clearances for Proposed Merger
- Luxor intends to vote against Ritchie Bros. proposed acquisition of IAA
- Ritchie Bros. CEO: We are like Ebay for large, industrial equipment
- Largest borrow rate increases among liquid names