Heavy equipment auction specialist 8031 Ritchie Bros set a record for a recent event in Florida. The firm sold over 10,500 items of heavy equipment items and trucks at the auction, held last week in Orlando, Florida. The five-day unreserved public auction ran from February 16th – 20th and attracted over 9,350 bidders who made offers either in person at the event or online. The bidders came from 81 countries while the auction generated over $179 million in gross auction proceeds. This included over $66 million of equipment sold to online buyers, itself a record figure. Multiple Orlando auction site records were also set, including the total number of registered bidders at over 9,350, the number of online bidders at over 5,000, the total number of buyers at more than 2,650, the number of online buyers at more than 1,300 and the number of sellers at 875.
"Our February Orlando auction is the largest auction we hold each year. The record 10,500+ industrial assets sold at this year's sale, and the record number of worldwide bidders the auction attracted, demonstrates the global reach and cross-sector appeal of this multi-day event," said Ravi Saligram, Chief Executive Officer, Ritchie Bros. "In fact, we sold more transportation sector assets at this sale than any of our previous Orlando auctions before. We're also pleased with the strong performance of the transactions we underwrote at this auction."
The equipment included more than 80 heavy construction items for Hermanos Yarull, a civil engineering contractor based in the Dominican Republic.
The auction attracted equipment buyers from across North America and around the world, in person and online. Close to $144 million of equipment (or 80%) was sold to buyers located outside of Florida, including more than US$48 million (or 27%) sold to buyers outside the country. Buyers participated from as far away as Australia, Ecuador, Thailand, Italy, the United Kingdom and the United Arab Emirates.
The record-setting selection of equipment in the Orlando auction included 500+ compactors, 450+ excavators, 270+ wheel loaders, 240 crawler tractors, 310 truck tractors, 200+ van trucks, 90+ dump trucks and more. Every item was sold without minimum bids or reserve prices.
"Our February Orlando auction is the largest auction we hold each year. The record 10,500+ industrial assets sold at this year's sale, and the record number of worldwide bidders the auction attracted, demonstrates the global reach and cross-sector appeal of this multi-day event," said Ravi Saligram, Chief Executive Officer, Ritchie Bros. "In fact, we sold more transportation sector assets at this sale than any of our previous Orlando auctions before. We're also pleased with the strong performance of the transactions we underwrote at this auction."
The equipment included more than 80 heavy construction items for Hermanos Yarull, a civil engineering contractor based in the Dominican Republic.
The auction attracted equipment buyers from across North America and around the world, in person and online. Close to $144 million of equipment (or 80%) was sold to buyers located outside of Florida, including more than US$48 million (or 27%) sold to buyers outside the country. Buyers participated from as far away as Australia, Ecuador, Thailand, Italy, the United Kingdom and the United Arab Emirates.
The record-setting selection of equipment in the Orlando auction included 500+ compactors, 450+ excavators, 270+ wheel loaders, 240 crawler tractors, 310 truck tractors, 200+ van trucks, 90+ dump trucks and more. Every item was sold without minimum bids or reserve prices.
