Ritchie Bros. auction yields over $42 million in heavy-equipment sales

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Ritchie Bros., the world's largest industrial auctioneer firm, sold more than $42 million worth of equipment and trucks at an unreserved public auction in Dubai last week.

The two-day auction set new Dubai site records for total number of bidders (920) and number of online bidders (400). More than 2,600 pieces of heavy industrial equipment were sold, including dozens of excavators, compactors, telescopic forklifts, wheel loaders, cranes, loader backhoes, dump trucks and truck tractors.

"The massive selection of equipment in this week's Dubai auction attracted a record crowd of on-site and online bidders from 60 countries," Eduard Faig, regional sales manager for Ritchie Bros., said. "We sold items for more than 200 equipment owners from the Middle East and beyond. Particularly strong performers in the auction were cranes, telescopic forklifts and backhoes. We already have a huge selection of construction equipment and trucks consigned to our next Dubai auction in December."

Bids were made in person or by proxy at the auction, as well as online at rbauction.com. Buyers from outside Dubai purchased approximately $19 million, or 45 percent of the equipment and trucks, with equipment sold to buyers from as far away as Australia, Mexico and the United Kingdom.

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Ritchie Bros. Auctioneers 9500 Glenlyon Pkwy Burnaby, BC - V5J

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