Ritchie Bros. Holds Successful Auction

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Ritchie Bros. Auctioneers held the world’s largest heavy equipment auction of 2014 in Orlando, FL selling 8,800+ items for more than $166 million. The six-day unreserved public auction set new company records for online sales, with online buyers generating more than $54 million in gross auction proceeds or 33 percent of total gross auction proceeds. Additional records broken at the auction include number of online registered bidders (4,400+), number of online buyers (1,000+), and a new Orlando, FL permanent auction site record of sellers (830+). Every item in the six-day, unreserved public auction was sold to the highest bidder, regardless of price—without minimum bids or reserve prices.
  More than 830 sellers sold their equipment at this year’s Ritchie Bros. Orlando, FL February auction. Florida-based Ring Power Corp., a long-time buyer and seller with Ritchie Bros., sold a selection of more than 140 heavy construction and rental-type items during the auction.