Ritchie Bros sells $176m of equipment at mega-auction

Auctioneer giant Ritchie Bros has sold US$176 million of equipment at a mega auction which lasted six days in Orlando, Florida.

More than 9,400 items of heavy equipment went up for auction. One of the items sold was a 2012 Grove RT890 90 ton (82 tonne) 4x4x4 rough terrain crane that sold for $725,000.

The auction was held from February 18 - 23, 2013. Close to 8,300 bidders registered for the unreserved public auction from 80 countries and online buyers accounted for US$53 million in gross auction proceeds generated at the auction, the company said.

"It has been another big February week for us here in Orlando," said Steve Kriebel, Regional Sales Manager, Ritchie Bros Auctioneers. "We welcomed bidders from across the nation and those who travelled from around the world to compete for one of the world's largest selections of heavy equipment. Prices were particularly strong for the smaller heavy construction items as well as one of the nicest selections of cranes that we've ever sold in our yard here in Orlando. Having now kicked off our 2013 Orlando auction season we look forward to building for our next Orlando auction on May 16, 2013."