Sales down 3%, but Q4 posts record
Ritchie Brothers Auctioneers has recorded total sales of $3.8 billion in 2013, a slight decrease on the previous year, which had been the highest recorded for the company.
Still, in the fourth quarter the company turned over a record $1.1bn – the highest ever Q4 sales, and a 10% increase on 2012. The company also saw a new high reached for online buyers – with online bidders purchasing more than $1.4 billion of equipment in 2013, or approximately 37% of total sales. New markets were also opened, with first auctions held in China and Finland.
Peter Blake, CEO of Ritchie Bros said that in Canada, its most established market, RBA continued to grow and again surpassed gross auction proceeds of over $1 billion. He also welcomed the increase in online bidding.
“We’re pleased that our customers are finding convenience through our online bidding option, and comfort in the ability to test and inspect the equipment being sold in our yards before each auction. More than 43,000 consigners trusted us to sell their equipment at our industrial auctions during the year, and over 425,000 potential buyers registered to bid on items.”
The company held a total of 245 auctions globally in 2013 (up from 221 in 2012), with 425,000 bidder registrations and 104,550. The auction average represented gross auction proceeds of $14.3 million (down from $16.5m), with 1,740 registered bidders (down 20), with 180 consignors (down 10), and 1,230 lots (down from 1,300 in 2012).