RERMAG

Ritchie Bros. Holds Large Los Angeles Auction

Ritchie Bros. Auctioneers, the world's largest industrial auctioneer, conducted a large, two-day unreserved auction March 22-23, 2006, in Los Angeles, generating gross auction sales of more than US$24 million.

More than 2,450 registered bidders from 20 countries, 43 U.S. states and 10 Canadian provinces registered to bid on more than 2,200 truck and equipment items at the two-day auction.

More than 635 Internet bidders, using the company's real-time bidding service, rbauctionBid-Live, purchased more than US$3 million worth of trucks and equipment items. The Internet participants were buyers or runner-up bidders on 29 percent of the lots available for online bidding.

"We had two busy days of auction sales," said Richard Aldersley, Ritchie Bros. area manager for southern California. "The crowd was large and came from all over the world. Although we noticed prices were solid across the board, truck prices were particularly strong."

The auction included more than 60 loader backhoes, 60 utility tractors, 35 crawler tractors, 30 excavators and more than 70 truck tractors — including three unused 2006 Kenworth T800B truck tractors.

There are currently more than 29,350 truck and equipment items featured in more than 40 unreserved industrial and 109 agricultural auctions in the upcoming Ritchie Bros. auction calendar.

Vancouver, British Columbia-based Ritchie Bros. is the world's largest auctioneer of industrial equipment, operating through more than 110 locations in greater than 25 countries around the world. The company sells, through unreserved public auctions, a broad range of used and unused industrial equipment including equipment used in the construction, transportation, material handling, mining, forestry, petroleum, marine, real estate and agricultural industries.

TAGS: Syndicate
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