Ritchie Bros auction hits $54+ million 

Ritchie Bros says it attracted close to 12,000 bidders for its Rocky Mountain Regional Auction, selling more than 4,150 items for $54+ million.
Auctions, Used Equipment, Rental & Finance / March 16, 2021
By Ben Spencer
Ritchie Bros says highlights included two Caterpillar articulated dump trucks (© Flavijus | Dreamstime.com)
Ritchie Bros says highlights included two Caterpillar articulated dump trucks (© Flavijus | Dreamstime.com)

Equipment for the auction was stored at three Ritchie Bros locations in Denver (Colorado), Salt Lake City (Utah) and Williston (North Dakota), but all bidding was done online

Highlights included six 2019 John Deere 300GLC hydraulic excavators that sold for a combined $1.17 million and two 2018 Caterpillar 745 6x6 articulated dump trucks that sold for a combined $840,000.

Noni Garcia, regional sales manager at Ritchie Bros, says: "We have seen a steady increase in bidder registrations over the past year, especially for these combined regional events, helping drive great returns for our consignors. Our Rocky Mountain auction featured a great selection of late-model, low-hour equipment that sold extremely well. In fact, we have received a tonne of great feedback from consignors recently, they just wish they had consigned more equipment as demand is very strong right now."

Ritchie Bros says approximately 93% of the equipment in the auction was sold to US buyers, including 24% to Colorado, 9% to Utah, and 1% to North Dakota. The remaining 7% was sold to international buyers from as far away as Australia, Egypt and the UK, the company adds. 

More than 600 owners sold equipment, including local Colorado companies 1888 Industrial Services and Miete.

Jeremy Townley, CEO of 1888 Industrial Services, based in Greeley, Colorado, says: "I've worked with Ritchie Bros. in Texas and Colorado, they have always been a great partner—they have it figured out. The new auction format is great. Inspect onsite ahead of time and then bid online. We sold more than 30 items in the Rocky Mountain auction and exceeded our expectations."

Corey Huwa, co-owner of Miete, based in Keenesburg, Colorado, says: "We consigned more than 160 pieces of equipment two weeks before the auction and Ritchie Bros immediately jumped into action. They put a team together to appraise items, working through the weekends, taking inspection photographs and videos for buyers and advertising our equipment to the world. At the end of the auction our returns were right where Ritchie Bros. said they would be."

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