Ritchie Bros., the world’s largest seller of used equipment, started strong with its first Dubai auction of 2016 on March 1 and 2, selling over US$41 million of equipment and trucks. [quote]
This auction represents a 54% increase in gross auction proceeds compared to the March Dubai sale last year.
“People from 71 countries registered for the auction, with buyers from as far away as Germany, Taiwan and the United States participating in person or online in real time,” said Eduard Faig, regional sales manager, Ritchie Bros.
“An international audience helped us achieve solid pricing despite challenges for some of our customers working in the oil and gas sector. In particular we saw strong demand for the Caterpillar D8R dozers, concrete pump trucks and mobile cranes in the auction.”
In total, more than 925 people registered for the auction, including over 400 online bidders. The amount sold to online bidders amounted to $4.5 million, while out-of-country buyers purchased over $17 million of the equipment, or 43% of equipment.
All items were sold with no minimum bids or reserve prices.
Ritchie Bros. sold more than 2 000 items in the March 2016 Dubai auction—630 more than March 2015—including more than 100 excavators, 55 dozers and 40 cranes.
Specific highlights of the auction included the sale of:
- Four 2012 Caterpillar 740B 6×6 articulated dump trucks for a combined $685 000;
- Two 2012 Volvo A40F 6×6 articulated dump trucks for a combined $305 000;
- A 2009 Liebherr LTM1160-5.1 160 t 10x8x10 all-terrain crane for $530 000;
- A 2007 Zoomlion QY100H-3 100 t 12x6x6 hydraulic truck crane for $172 500;
- A 2007 Tadano TR-500EX-3 50 t 4x4x4 rough terrain crane for $152 500;
- A 2009 Caterpillar 14M motor grader for $152 500;
- A 2006 Caterpillar D8R LRC dozer for $150 000;
- A 2009 MAN TGA50.480 10x4x6 w/ 2009 Schwing S52RZ concrete pump truck for $420 000; and
- A 2005 Mercedes-Benz Actros 4140 w/ 2006 Schwing S42SXG concrete pump truck for $152 500.
Ritchie Bros.’ next Dubai auction will take place on May 24 and 25, 2016.