Tue January 04, 2022 - Midwest Edition #1 Ritchie Bros.

Ritchie Bros. regional auctions continue to drive demand, with the company's latest events in the Northeast and the Great Lakes generating more than $45 million and more than $42 million in gross transaction value.

"Good quality, ready-to-work equipment and trucks are bringing record prices right now," said Jason Kirkconnell, regional sales manager, Ritchie Bros. "For our Northeast Regional Event, we signed up a few great packages early on, attracting a diverse lineup of consignments, including forestry gear, pipeline equipment and some beautiful, late-model trucks. Right now, we are seeing particularly strong returns for transportation equipment, with some used truck tractors bringing higher than retail prices. If you have equipment and trucks to sell, I encourage you contact us today."

The Dec. 14 to 16, 2021, Northeast Regional Event featured more than 4,600 items sold from locations in North East, Md.; North Franklin, Conn.; Pittsburgh, Pa.; Raleigh-Durham, N.C.; and Amma, W.Va. The three-day online auction attracted more than10,100 bidders from 68 countries. Approximately 95 percent of the items in the auction were purchased by U.S. buyers, including 14 percent sold to Pennsylvania; 10 percent to Maryland, and 7 percent to New Jersey. The remaining 5 percent was purchased by international buyers from as far away as Armenia, Australia and the Dominican Republic.

"We saw incredibly strong pricing in our Great Lakes event as well," said Tim Keane, regional sales manager, Ritchie Bros. "Consignor feedback has been very positive, with several consignors lamenting they don't have more equipment available to sell. Simultaneously, we are also generating great returns for consignors in the region through our Marketplace-E platform and our weekly featured auctions on IronPlanet.com — now is a great time to sell."

The Dec. 16 to 17 Great Lakes Regional Event featured more than 4,200 items sold from locations in Columbus, Ohio; Chicago, Ill.; Detroit, Mich.; and Lincolnshire, Ill. The two-day online auction attracted more than 9,600 bidders from 58 countries. Approximately 93 percent of the items were purchased by U.S. buyers, including 15 percent sold to Ohio; 13 percent to Illinois; and 8 percent to Texas. The remaining 7 percent was purchased by international buyers from as far away as Iceland, Singapore and Kazakhstan.

Ritchie Bros. will sell tens of thousands of equipment items and trucks in its upcoming auctions and online marketplaces, including the company's massive, six-day auction in Orlando, Fla., on Feb. 21 to 26, 2022, and its next Northeast and Great Lakes Regional Events in March 2022.

The company also has weekly featured online auctions at IronPlanet; a daily reserved option with Marketplace-E; and a brand new equipment listing service called Ritchie List, with more than 40,000 items already listed.

For more information, visit RitchieBros.com.

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