Ritchie Bros. enjoys record year

Ritchie Bros. Auctioneers sold US$ 4.2 billion worth of equipment through 349 auctions last year. This was a new record for the company and a +10.5% increase on its gross auction proceeds in 2013.

Other key metrics included an increase in the total number of buyers at industrial auctions from 104,550 in 2013 to 112,900 last year. The number of lots sold was up to 319,500, from 301,000 in 2013.

The company said it saw growth last year from the transport and agriculture sectors. Sales of transport equipment were up +13% on 2013 figures to US$ 650 million, and this included some 12,800 trucks which sold for more than US$ 310 million. Proceeds from sales of agricultural equipment were up +11% on last year to US$ 435 million.

Last year also saw the company set a new record for sales in its home market of Canada. Proceeds totaled more than CA$ 1.4 billion (US$ 1.3 billion) and this included the company’s largest ever auction. The event was held in Edmonton, Alberta in April and it saw some CA$ 143 million (US$ 129 million) worth of equipment sold over the course of three days.

Online sales by the company also hit a new high last year, with US$ 1.8 billion of machinery sold – a +17.5% increase on 2013. There was also strong growth in financing activity with Ritchie Bros. Financial Services providing financing for more than US$ 175 million worth of equipment, a +75% increase on 2013.

The company added that it already has 83 auctions scheduled for 2015.