Ritchie Bros Auctioneers (RBA), the world’s largest industrial auctioneer, recently conducted two large unreserved auctions in Dubai, UAE, and Los Angeles in California, US, generating gross auction proceeds of $20 million and $24 million, respectively.
More than $11 million (49 per cent) of the gross auction proceeds at the Los Angeles unreserved public auction came from buyers located outside the state of California, while 39 per cent ($8 million) of the gross auction proceeds at the Dubai unreserved auction came from buyers that were located outside the UAE, according to the company.
Held from August 25 to 27, the Dubai unreserved auction attracted close to 500 registered bidders from 48 countries around the world and generated gross auction proceeds of $20 million. More than 1,500 lots were sold at the three-day auction.
“We had a very strong sale, especially considering the fact it was held so close to the holy month of Ramadan,” says Ritchie Bros area manager Steve Barritt, who is based in Dubai.
“People often travel before Ramadan, and we appreciate the fact that many of our local customers stayed for the auction and travelled afterwards,” he adds.
One of the highlights of the auction included the sale of an American 9299 Skyhorse crawler crane for $1.2 million.
The company’s next unreserved auction in Dubai is scheduled for next month, from November 17 to 19.
Meanwhile, the unreserved auction in Los Angeles, which was held on August 27 and 28, attracted more than 2,100 registered bidders from 24 countries, including 41 US states, generating gross auction proceeds of $24 million. More than 2,100 lots were sold at the two-day auction.
“Internet bidders played a large role at our auction,” says RBA’s regional manager Richard Aldersley. “More and more, we are seeing how powerful our online bidding service is in enabling buyers to participate in the auction from their home or office anywhere around the world. Competitive bidding from our international customers helps consignors achieve global market values, and that was evident from all the internet activity during the auction.”
Online bidders at the Los Angeles auction were winner or runner-up bidder on close to 40 per cent of lots available to be sold on rbauctionBid-Live.
RBA’s next unreserved public auction in Los Angeles is also scheduled for next month, from November 18 to 19.
Established in 1958, Ritchie Bros is the world’s largest auctioneer of industrial equipment, operating through over 110 locations in more than 25 countries around the world. The company sells, through unreserved public auctions, a broad range of used and unused industrial assets, including equipment, trucks and other assets utilised in the construction, transportation, material handling, mining, forestry, petroleum, marine, real estate, and agricultural industries. The company maintains a website at www.rbauction.com.
