Industry News

Ritchie Bros. Sells Ca$70+ Million Of Equipment In Edmonton, Ab

Ritchie Bros. Edmonton team was back at it last week selling 8500+ equipment items and trucks for 1200+ consignors. The three-day online auction attracted close to 15000 bidders and generated more than CA$70 million (US$56+ million) in gross transaction value. Approximately 92% of the equipment in the June 23 – 25 auction was sold to buyers in Canada including 56% sold to Alberta 15% to British Columbia and 9% to Saskatchewan. The remaining 8% of ...

Acquiring Assets Online

From the global used heavy equipment online market was on a growth trajectory. Then 2020 happened. Everything was online and multiple reasons channelled demand to used construction and heavy equipment machines. Kuwaiti company Masaha Global also launched its online auction arm for used machines - Q8 Auctions - in February 2020. Branching out into the online auction market was already on the cards for Masaha Global before the pandemic hit last year...

Ritchie Bros. Dubai Online Auction In June Features Equipment From Kuwait

The upcoming Ritchie Bros. Dubai auction inventory ranges from small dumpers to massive all terrain cranes from SUVs to big excavators and anything in between. A large portion usually is consigned by businesses based in the UAE but at its next online auction which opens for bidding on June 22nd and closes on June 29 & 30 Ritchie Bros. will be selling a large number of quality equipment located in Kuwait. Ritchie Bros. recently teamed with Kuwa...

Ritchie Bros. Experiencing One Of The Strongest Demand Trends In Years

Long lead times on new equipment and exceptionally high productivity in key industries have pushed heavy machinery demand at Ritchie Bros. to unprecedented levels and equipment owners are taking advantage. First quarter of 2021 Ritchie Bros. has driven website traffic up 47% year over year while bidder registrations are up 49%. “We currently see price performance of construction equipment at our auctions in Europe averaging 10 to 15% higher than a...

Gordon Brothers & Ritchie Bros. Form Alliance To Assist Australian And South East Asian Insolvency And Restructuring Market

Gordon Brothers and Ritchie Bros. have created a formal joint venture the Gordon Brothers & Ritchie Bros. Alliance. The Alliance provides end-to-end asset advisory and asset remarketing services to the insolvency and restructuring market in Australia and South East Asia. The new Alliance will generate superior outcomes for clients ranging from Administrators creditors Receivers bankers and financiers to the businesses in distress. The Alliance...