INDUSTRY INSIDER | April 18, 2024

Ritchie Bros. Sells US$258+ Million of Heavy Equipment and Vehicles in its 2024 Premier Global Auction

Original Source: PR Newswire

ORLANDO, Fla. The trusted global marketplace for insights, services and transaction solutions for commercial assets and vehicles, today announced that Ritchie Bros. Auctioneers sold 16,500+ equipment items, trucks and vehicles at its Feb. 19-23 premier global auction event in Orlando, FL, generating US$258+ million in gross transaction value (GTV).

The premier global auction event attracted 22,000+ people from 80+ countries, with approximately 83% of the equipment selling to U.S. buyers, including 22% purchased by Floridians. The remaining 17% of the equipment was purchased by international buyers from as far away as Poland, India and Vietnam.

In addition to producing results for customers in Orlando last week, the Ritchie Bros. online auction platform featured the Australia National Online Auction, Feb. 21-22, and an IronPlanet weekly auction. In Australia, 2,400+ equipment items, generated US$27+ million in GTV, while the IronPlanet weekly auction saw 1,100+ heavy equipment items sell for US$13 million in GTV. Ritchie Bros. continues to prove that it is the leading destination for buying and selling heavy equipment and transportation assets globally, with over US$300 million in GTV sold last week alone.

“It was another successful year of onsite and online bidding and buying at our premier global auction in Florida, helping us drive strong results for the massive selection of equipment and vehicles available,” said Jim Kessler, Chief Executive Officer for RB Global. “Our 200-acre yard was busy all week with customers viewing and inspecting equipment and it was great to be able to meet and connect with customers in person. At the same time, many more were participating online or through our mobile app from the convenience of their home or office.

“I’d like to offer a huge thank you to all our customers participating onsite and online last week. Our talented team, unique approach to yards, and innovative technology platform give buyers the confidence to purchase from around the world and give sellers the very best returns for their assets.”