Ritchie Bros. marks record-breaking year

By Euan Youdale11 January 2011

A Ritchie Bros auction underway in Ocana, Spain, during the summer of 2010.

A Ritchie Bros auction underway in Ocana, Spain, during the summer of 2010.

Industrial equipment auctioneer Ritchie Bros. achieved record-breaking crane sales in 2010, says the company.

It sold 1,870 cranes to 1,350 buyers from 63 countries worldwide. In total, these sales generated over US$155 million in gross auction proceeds. This new record surpassed the previous record set in 2009 when Ritchie bros. sold more than 1,700 cranes to 1,270 buyers from 60 countries for more than US$150 million, it said.

About 70% of the cranes sold in 2010 were purchased on site at Ritchie Bros. unreserved auctions worldwide, and 30% were purchased online at the company's website. Some 60% of cranes sold were purchased by buyers from outside the region of the sale.

"We've seen a steady increase in the number of cranes being sold at our unreserved auctions around the world in the last couple of years, including several high-value cranes that have sold for in excess of one million dollars," said Rob Mackay, Ritchie Bros. Auctioneers president.

Some of the most notable high value cranes sold in 2010 included a 440 tonne capacity 2006 Manitowoc 16000 crawler crane sold in Denver, Colorado for US$2.5 million to a Californian buyer. Another example is a 2007 Liebherr LTM-1250 rough terrain crane sold in Ocaña, Spain for €1 million (US$1.2 million) to an online buyer from Chile.

A forthcoming Ritchie Bros. auction in Orlando, Florida, USA - typically the company's largest of the year - will include 60 cranes, says the company. The machines, including rough terrain, crawler, all terrain and hydraulic truck cranes, are among 1,000 equipment items being sold to the highest bidder, regardless of price, with no minimum bids or reserve prices. The auction takes place 15 - 19 February, 2011.

Latest News
Supply chains in focus at Off-Highway Conference
Construction equipment industry urged to prepare for long-term volatility
South Africa to increase renewable energy
The country has signed three project agreements amounting to 420 MW
New sales manager for Faymonville and Cometto
Matthew Schattgen aims to further develop the brand implementation in the U.S. market.