Ritchie breaks Q3 auction sales record
Auction power house Ritchie Bros has recorded its best-ever third-quarter results as it benefited from a surge in used equipment availability in September. The world’s largest auctioneer of equipment and trucks said that it sold $560 million of equipment at 31 unreserved auctions, the highest grossing in September and one of its largest-ever months. The […]
Ritchie Bros saw record sales in September
Auction power house Ritchie Bros has recorded its best-ever third-quarter results as it benefited from a surge in used equipment availability in September.
The world’s largest auctioneer of equipment and trucks said that it sold $560 million of equipment at 31 unreserved auctions, the highest grossing in September and one of its largest-ever months.
The company also achieved its highest ever third-quarter gross auction proceeds with approximately $848 million of equipment sold during the quarter.
With auction houses like Ritchie Bros investing in their online offering, it is perhaps unsurprising that Ritchie’s website scored 4.1 million unique visitors in the first nine months of 2012 which is a 39% increase compared to 2011.
“Our record proceeds reflect steady improvement in equipment supply and demand dynamics,” said Peter Blake, Ritchie Bros CEO. “New equipment supply and demand continued to become more balanced during the quarter, which is beginning to increase the availability of used equipment in the market. This is a positive development for our business and growth prospects, though increasing equipment supply resulted in generally more variability in used equipment prices at our auctions in the month of September.”
