Ritchie Bros. Auctioneers conducted the largest Australian auction in Company history this week, selling AU$55 million (US$52 million) of cranes, heavy equipment and trucks during a two-day unreserved public auction at its Brisbane auction site on June 24 & 25, 2008.

Almost 1,800 people from 17 countries registered to bid in person on the large selection of late model cranes, earthmoving equipment and trucks being sold at the Ritchie Bros. auction site in Yatala (Brisbane) on the Gold Coast on June 24 & 25, 2008. More than 1,100 items were sold in the unreserved public auction, attracting a record number of bidders for that site and generating record gross auction proceeds of AU$55 million - making this the largest Australian auction in Ritchie Bros. history, as well as its first two-day auction in the country. Ritchie Bros.’ largest Australian auction prior to this was an unreserved AU$37 million auction at the same site in September 2007.

“The auction could not have gone better,” said Simon Ross, Ritchie Bros. Regional Manager. “The yard was full of good quality, late model used equipment and the auction theater was full of interested buyers. We registered hundreds of first-time bidders, delivered excellent returns for our consignors and sealed our position as the largest industrial auctioneer in Australia - as well as the world. Demand for cranes and transportation equipment remains strong and resulted in exceptionally high prices on auction day. Both buyers and sellers went home happy.”

The auction featured complete dispersals for Queensland-based Skelton Transportation Pty Ltd and NSW-based Howards Haulage, in addition to equipment from almost 130 other consignors, including a number of Japan-based companies. Among the highlights: nine late model cranes, including two all terrain cranes that sold for AU$1.4 million (US$1.3 million) each (a 2004 Grove 100-ton and a 2008 Grove 80-ton); more than 100 prime movers (truck tractors), including a 2004 Mack that sold for AU$320,000 (US$307,000); and almost 60 low loaders (lowboys), including a 2005 Drake that sold for AU$1.05 million (US$1.01 million).

Posted: 06|30|08 at 11:07 am. Filed under: Australia.