Ritchie Bros auction breaks records

Ritchie Bros. Auctioneers set multiple records at its first Mexico national auction, in Polotitlan, State of Mexico, on 28 and 29 March.

The heavy equipment and trucks auctioneer has been conducting unreserved auctions in Mexico for more than 15 years. However, its latest unreserved public auction set new company records in Mexico. Not only was it the first national auction, with lots securely stored and displayed in four separate locations: Polotitlan (State of Mexico), Hermosillo (Sonora), Torreon (Coahuila) and Merida (Yucatan). It also secured the highest gross auction proceeds, at nearly US$ 19 million, from the most bidders (735).

Participants bid in person from locations in Polotitlan and Hermosillo as well as online in real time via the Richie Bros website. In total, more than 1,150 heavy equipment items and trucks were sold during the two-day auction.

More than 700 people from 27 countries, including 32 Mexican states, registered to bid in person or online from as far away as Australia, Malaysia, Ireland and India. Bidders from outside Mexico purchased nearly $ 2 million worth of equipment, accounting for 10% of total gross auction proceeds. In total, more than 325 bidders registered online and purchased more than $4 million worth of equipment.

Consignments for the next Mexico national auction, scheduled for June 2012, are now being accepted.