Ritchie Bros. auction in Houston hits US$61+ million

On February 14-16, Ritchie Bros. held a successful auction in Houston, TX, attracting over 14,500 bidders for more than 6,500 items and generating a gross transaction value exceeding US$61 million.

Rhea-AI Summary

On February 14-16, Ritchie Bros. held a successful auction in Houston, TX, attracting over 14,500 bidders for more than 6,500 items and generating a gross transaction value exceeding US$61 million. Approximately 87% of the equipment was sold to U.S. buyers, with 48% purchased by Texans. The auction featured a diverse range of assets, including transportation and construction equipment, all sold without minimum bids. Regional Sales Manager Chuck Roberson reported strong prices and high satisfaction among sellers, prompting interest in future events. Upcoming auctions include a Premier Global Auction in Orlando, FL, with over 13,000 items available.

Positive

• Generated over US$61 million in gross transaction value.
• Attracted over 14,500 bidders for 6,500+ items, indicating strong demand.
• Approximately 87% of items sold were to U.S. buyers, strengthening domestic sales.
• Successful auction results led to increased interest from sellers for future events.

Negative

• None.

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February 14 – 16 unreserved auction attracted 14,500+ bidders to compete for 6,500+ items

HOUSTON, Feb. 20, 2023 /PRNewswire/ - With its first Houston, TX site auction of the year, Ritchie Bros. attracted more than 14,500 bidders to compete for 6,500+ items, generating US$61+ million in gross transaction value. 

Approximately 87% of the equipment in the February 14 – 16, 2023 auction was sold to U.S. buyers, including 48% purchased by Texans. The remaining 13% was purchased by international buyers from far away as France, India, and Japan. Auction highlights included 1,100+ transportation assets, 1,100+ construction equipment assets, 700+ lifting & material handling assets, forestry equipment, and more—all assets were sold without minimum bids or reserve prices. 

"We had a fantastic selection of equipment last week in Houston, with something for everyone, attracting bidders from more than 60 countries around the world," said Chuck Roberson, Regional Sales Manager, Ritchie Bros. "We achieved strong prices for equipment and trucks all three days of the auction. As a result, we had a lot of happy sellers eager to consign more equipment for our upcoming Fort Worth sale in March and our weekly IronPlanet events."

Mr. Roberson continued, "For bidders who were unable to secure the items they need in Houston last week, we have a many upcoming auctions and online events, including our Premier Global Auction this week in Orlando, FL. More than 13,000 items will be sold in the massive five-day event. If you haven't already, I encourage you to visit rbauction.com/orlando2023 to get registered and start bidding."

Five Big Sellers from Houston:

• 2017 Komatsu XT445L-3 feller buncher – US$282,500
• 2013 Peterbelt 365 Manitex 50155SHL 50-ton articulating boom truck – US$270,000
• 2022 XL Specialized XL120HDG 60-ton 2+3+2 removable gooseneck lowboy – US$252,000
• 2019 Caterpillar 950M high lift wheel loader – US$215,000
• 2016 Caterpillar 349FL hydraulic excavator – US$207,500

AUCTION QUICK FACTS: HOUSTON, TX (FEBRUARY 2023)

• Gross Transaction Value: US$61+ million
• Items Sold: 6,500+
• Bidders: 14,500+
• Consignors: 750+

Ritchie Bros. has more than 90,000 equipment items and trucks in its upcoming auctions and online marketplaces, including 13,000+ items selling this week in Orlando, FL; 3,000+ items selling on March 1 – 2 in Phoenix, AZ; and 4,500+ items selling in a Rocky Mountain Regional Event on March 8 – 9. For a complete list of upcoming events, visit rbauction.com/auctions.

About Ritchie Bros.

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Ritchie Bros. Energy. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

View original content:https://www.prnewswire.com/news-releases/ritchie-bros-auction-in-houston-hits-us61-million-301750514.html

SOURCE Ritchie Bros.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were the results of Ritchie Bros. auction in Houston on February 14-16, 2023?

The auction generated over US$61 million in gross transaction value, attracting over 14,500 bidders.

How many items were sold at the Ritchie Bros. auction in Houston?

More than 6,500 items were sold during the auction.

What percentage of items sold at the Houston auction were purchased by U.S. buyers?

Approximately 87% of the equipment sold was purchased by U.S. buyers.

When is the next Ritchie Bros. auction scheduled after the Houston event?

The next auction is a Premier Global Auction in Orlando, FL, scheduled for the week after the Houston event.

What types of assets were sold at the Houston auction?

The auction included transportation assets, construction equipment, and lifting & material handling assets.