Ritchie Bros sold US$ 3.9 billion of equipment in 2012

Auctioneer Ritchie Bros said it sold US$ 3.9 billion worth of equipment this year during 328 auctions around the world – a +5% increase in sales compared to 2011.

The company said auction proceeds for 2012 were the highest in its history, with US$ 1 billion in auction sales recorded in the fourth quarter alone.

Sales to online bidders also represented a larger slice of the total – Ritchie Bros sold US$ 1.3 billion of equipment to online bidders this year, up +18% year-on-year and the highest amount it has ever sold online in one year.

Ritchie Bros CEO Peter Blake said, "Against the backdrop of market turbulence through the year, we are pleased with our 2012 results as we emerged well-positioned to continue the growth of our core unreserved auction business and we are ready to begin a new path that will introduce a new customer base to our brand.”

Mr Blake said 2013 was also shaping up to be a year of milestones, with the impending launch of the company’s new online, non-auction marketplace as a result of its AssetNation acquisition as well as its first unreserved auction in Beijing, China.