|By PR Newswire||
|February 24, 2014 07:00 AM EST||
Company breaks records for online sales and Orlando, FL site record for number of sellers at the world's largest heavy equipment auction of 2014
ORLANDO, FL, Feb. 24, 2014 /PRNewswire/ - Last week (February 17 - 22, 2014), Ritchie Bros. Auctioneers (NYSE and TSX: RBA) held the world's largest heavy equipment auction of 2014 in Orlando, Florida selling 8,800+ items for more than US$166 million. The six-day unreserved public auction set new Company records for online sales, with online buyers generating more than US$54 million in gross auction proceeds or 33 percent of total gross auction proceeds. Additional records broken at last week's auction include number of online registered bidders (4,400+), number of online buyers (1,000+), and a new Orlando, FL permanent auction site record of sellers (830+). Every item in the six-day, unreserved public auction was sold to the highest bidder, regardless of price—without minimum bids or reserve prices.
"Our February auction in Orlando continues to be our Company's largest auction each year and this year is no different," said Peter Blake, Ritchie Bros. CEO. "Equipment owners from around the world and most notably from all across the eastern seaboard of the U.S. send their equipment to our Orlando auction because we provide ease, confidence and the world's biggest auction in which to sell their assets for the highest possible returns. Due to the severe winter weather that hit the northeastern U.S. in recent weeks, many of the sellers from the region who normally participate in the auction were unable to free up equipment from their job sites to add to last week's auction. We also noticed a lower volume of cranes in this year's inventory due to higher construction activity in the non-residential market. However, simultaneously we saw a more diverse and larger selection of equipment from the energy and transportation equipment categories than previous years. This is an early reflection of our focused strategy to diversify and grow our volume in other sectors, in addition to heavy construction."
More than 830 sellers sold their equipment at this year's Ritchie Bros. Orlando, FL February auction. Florida-based Ring Power Corporation, a long-time buyer and seller with Ritchie Bros., sold a selection of more than 140 heavy construction and rental-type items during last week's auction.
"We have a long and collaborative relationship with Ritchie Bros. and their February auction here in Orlando is one of our largest ventures together," said Dennis Ryan, Vice President and Used Equipment Manager, Ring Power Corporation. "We sold a large selection of construction and rental gear this year and prices exceeded our expectations. While at the auction, we saw bids coming in from Latin America, the Middle East and all over the United States for our gear. Ritchie Bros. has the ability like no other to reach buyers from all around the world."
More than 8,640 registered bidders from 84 countries, including all 50 U.S. states, all 10 Canadian provinces and one territory, participated both in person and online. More than US$29 million was purchased by buyers from the state of Florida while more than US$137 million (or 82%) was sold to buyers located outside the state, with more than US$48 million (or 29%) being sold to buyers outside the country. Buyers participated from as far away as the United Arab Emirates, Guyana, Italy, Nigeria, Russia and Qatar.
"The selection is like something I've never seen before - the yard is huge and it is completely packed with equipment," said Oscar Ruiz, a first-time bidder and private contractor from Colombia. "I will definitely attend the next Ritchie Bros. Orlando auction - if I need it, I know I will find it here."
Katherine Garibello, President of Florida-based contractor AG Design & Services Corp., which specializes in remodeling and structural maintenance, was also a first-time buyer at this year's Ritchie Bros. February Orlando auction. She noted: "The logistical organization, professionalism and friendliness of every staff member of this enormous operation is what helped us acquire the equipment we need for our next remodeling project."
"We have started another strong year at our February auction here in Florida," said Steve Kriebel, Regional Sales Manager, Ritchie Bros. Auctioneers. "We saw strong prices in many areas, more specifically in the backhoe, aerial, truck and trailer, motor grader, and bulldozer categories. Even though our inventory count was slightly lower than in recent years, average sale prices were higher. Additionally, we sold 80 percent more one-to-three-year-old equipment items in our core equipment categories, including wheel loaders, bull dozers, rock trucks, excavators, motor graders and forklifts. We look forward to continuing to serve our customers all around the world at our upcoming Florida auctions in 2014."
AUCTION QUICK FACTS: ORLANDO, FL - FEBRUARY 17 - 22, 2014
- Total Gross Auction Proceeds (in-person and online): more than US$166 million
- Amount sold online: more than US$54 million (* new Company record)
- Unique registered bidders (total): more than 8,640
- Unique registered online bidders: more than 4,400 (* new Company record)
- Online buyers: more than 1,000 (* new Company record)
- Total number of lots sold: more than 8,800
Total number of sellers: more than 830 (* new Orlando, FL permanent auction site record)
The next Ritchie Bros. Orlando, FL unreserved public auction is scheduled for May 15, 2014. Equipment owners interested in selling their equipment can contact the auction site at +1.863.420.9919.
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. TM solutions make it easy for the world's builders to buy and sell equipment with confidence, including live unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOneTM secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauctionfinance.com). Ritchie Bros. has operations in more than 25 countries, including 44 auction sites worldwide. Learn more at RitchieBros.com.
Forward looking statements
This press release may contain forward-looking information. Such forward looking information involves material assumptions, risks and uncertainties, certain of which are beyond the control of Ritchie Bros. Such assumptions, risks and uncertainties include, without limitation, factors influencing the supply of and demand for used equipment, fluctuations in market conditions and values of used equipment, seasonal and periodic variations in operating results, actions of competitors, the success of the Company's new initiatives, economic and other conditions in local, regional and global markets, and other risks and uncertainties as detailed from time to time in the Company's securities filings. Ritchie Bros.' actual achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking information will transpire or occur. Any forward-looking information is made as at the date of this press release and Ritchie Bros. does not undertake any obligation to update publicly or to revise any of the included forward-looking information, except as may be required by applicable securities laws.
ATTENTION MEDIA: Photo attachments with this news release:
- A crowd of bidders gather around the gigantic line-up of excavators at the Ritchie Bros. permanent auction site in Orlando, FL on Day Three (February 20, 2014) of the six-day auction - February 17 - 22, 2014
- A line-up of crawler tractors on the Ritchie Bros. auction ramp at the world's largest heavy equipment auction of 2014 in Orlando, FL - February 17 - 22, 2014
- A selection of truck tractors lines up on the ramp at the Ritchie Bros. permanent auction site in Orlando, FL - February 17 - 22, 2014
SOURCE Ritchie Bros. Auctioneers
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
Feb. 20, 2017 04:00 AM EST Reads: 1,280
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Feb. 20, 2017 03:30 AM EST Reads: 6,123
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 20, 2017 03:15 AM EST Reads: 1,323
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Feb. 20, 2017 02:00 AM EST Reads: 6,077
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
Feb. 20, 2017 02:00 AM EST Reads: 4,148
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 20, 2017 01:00 AM EST Reads: 5,206
China Unicom exhibit at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE FDD, TD-LTE), fixed-line broadband, ICT, data communica...
Feb. 20, 2017 01:00 AM EST Reads: 824
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Feb. 20, 2017 12:45 AM EST Reads: 2,388
Zerto exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016. Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual...
Feb. 20, 2017 12:15 AM EST Reads: 958
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
Feb. 20, 2017 12:00 AM EST Reads: 1,404
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Feb. 19, 2017 10:30 PM EST Reads: 6,149
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Feb. 19, 2017 09:30 PM EST Reads: 837
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often un...
Feb. 19, 2017 08:00 PM EST Reads: 2,837
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
Feb. 19, 2017 06:45 PM EST Reads: 3,155
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
Feb. 19, 2017 06:15 PM EST Reads: 1,093