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Ritchie Bros. Grosses Record September and Third Quarter

Vancouver-based Ritchie Bros. Auctioneers sold about $561 million of equipment at 31 unreserved auctions around the world in September, the highest September gross auction proceeds in company history 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 ended Sept. 30.

The Ritchie Bros. website — www.rbauction.com — attracted roughly 4.1 million unique visitors during the first nine months of 2012, a 39-percent increase compared to the same period in 2011.

“Our record September and third-quarter gross auction proceeds reflect steady improvement in equipment supply and demand dynamics,” said Ritchie Bros. CEO Peter Blake. “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.”

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