Ritchie Bros. sold nearly US$44 million of equipment for industry-leader WB Pipeline LLC in its largest pipeline construction auction of the year. Thousands of bidders onsite and online around the world competed for more than 2,700 pieces of diverse, well-maintained, ready-to-work equipment items.
The auction on August 9, in Splendora, Texas, was part of strategic downsizing initiative for WB Pipeline. The company will continue to serve its clients with unwavering dedication and uphold its commitment to safety, quality and customer satisfaction. CEO William B. Haines thanked Ritchie Bros. for their dedication and professionalism in executing a successful auction.
“The collaboration between WB Pipeline and Ritchie Bros. proved to be a winning combination, resulting in a dynamic auction atmosphere that effectively showcased the high-quality equipment available,” said Mr. Haines. “This achievement underscores Ritchie Bros.’ ability to deliver outcomes for their clients, solidifying their reputation as a leader in the auction industry.
“We extend our heartfelt appreciation to all those who participated in the auction.”
More than 5,500 people from over 40 countries registered to bid in the unreserved auction in suburban Houston. Approximately 94% of the equipment was purchased by U.S. buyers, including 64% sold to Texas buyers. The remaining 6% was sold to international buyers in Canada, Mexico, Belize, Bolivia and the United Arab Emirates.
Ritchie Bros. used its decades of experience selling pipeline equipment in Texas to help WB Pipeline with the successful liquidation.
“Ritchie Bros. was able to build a custom-tailored onsite plan for the restructuring of WB Pipeline that created a lot of energy around some of the best pipeline fleet in the world,” said Jeff Jeter, Chief Revenue Officer at RB Global. “Our flexible solutions, marketing efforts and execution had customers excited and ready to go on auction day. I want to thank WB Pipeline and all our buyers for making this event a success!”
The WB Pipeline fleet included 59 pipelayers, 25 hydraulic excavators, 13 dozers, as well as lowboys, tools, plus a wide selection of late-model, low-hour truck tractors and pickups. All items were unreserved to the highest bidder both online and onsite, where a big crowd turned on auction day in Splendora.
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