Ritchie Bros.’ annual February auction in Orlando once again proved to be global nexus for buyers and sellers of used heavy equipment. The 5-day public auction attracted 22,000+ bidders from 80+ countries competing for a record-setting 16,500+ equipment items, trucks and vehicles, generating US$258+ million in gross transaction value (GTV).
The premier global auction event, which ran from Feb 19-23, attracted buyers from as far away as Poland, India and Vietnam. However, most items were sold to customers in the United States, with approximately 83% of the equipment sold to American buyers, including 22% purchased by Floridians. The remaining 17% of the equipment was purchased by international buyers.
“It was another successful year of onsite and online bidding and buying at our premier global auction in Florida, helping us drive strong results for the massive selection of equipment and vehicles available,” said Jim Kessler, Chief Executive Officer for RB Global. “Our 200-acre yard was busy all week with customers viewing and inspecting equipment and it was great to be able to meet and connect with customers in person. At the same time, many more were participating online or through our mobile app from the convenience of their home or office.
“I’d like to offer a huge thank you to all our customers participating onsite and online last week. Our talented team, unique approach to yards, and innovative technology platform give buyers the confidence to purchase from around the world and give sellers the very best returns for their assets.”
Online bidders flock to Orlando and other Ritchie Bros. events
Orlando wasn’t the only auction last week where bidders had an opportunity to get the equipment and trucks they need. In addition to producing results for customers in Orlando, the Ritchie Bros. online auction platform featured the Australia National Online Auction, Feb. 21-22, and an IronPlanet weekly auction.
In Australia, 2,400+ equipment items, generated US$27+ million in GTV, while the IronPlanet weekly auction saw 1,100+ heavy equipment items sell for US$13 million in GTV.
Ritchie Bros. continues to prove that it is the leading destination for buying and selling heavy equipment and transportation assets globally, with over US$300 million in GTV sold last week alone.
