Out-of-state bidders set global market prices at Ritchie Bros. auction in Las Vegas
biz.yahoo.com
Monday November 10, 7:00 am ET
LAS VEGAS, Nov. 10 /PRNewswire-FirstCall/ - Out-of-state bidders from as far away as Russia, Saudi Arabia and Canada purchased US$23 million of equipment from the US$24 million unreserved public auction conducted by Ritchie Bros. Auctioneers (NYSE and TSX: RBA) in Las Vegas, Nevada last week. More than 1,100 heavy equipment items and trucks were sold in the November 7, 2008 auction, which attracted more than 1,500 on-site and online bidders from 20 countries, including 42 U.S. states.
Of the total number of bidders, more than 700 participated online using the Ritchie Bros. real-time internet bidding service rbauctionBid-Live. Online bidders purchased over US$8 million of equipment (representing 35 percent of the total gross auction proceeds). Ritchie Bros. ( rbauction.com ), the world's largest industrial auctioneer, is already accepting consignments for its next unreserved public auction in Las Vegas (on February 6, 2009).
"The auction went very well; our consignors were pleased with the results and our buyers were happy to find the equipment they need at global fair market prices," said Jim Rotlisberger, Ritchie Bros. Regional Manager. "It was a very busy convention week in Las Vegas just before the auction. A lot of out-of-town visitors took the time to come to our auction site to test, inspect and compare the equipment in our yard. Many returned home and registered to bid online at our auction. The participation of on-site and online bidders from all over North America and around the world helped our local consignors achieve strong returns on their surplus assets. Truck tractors and crushing equipment generated particularly good returns." |
