Thursday 18 July 2024

Ritchie Bros. Dubai auction 'a big success'; 1,123 lots sold

DUBAI, June 15, 2024

Ritchie Bros., the world's largest heavy equipment auctioneer, has announced the successful conclusion of its unreserved online auction held in Dubai early this month. 
The Dubai auction, marking the end of Q2, attracted a significant number of participants from around the globe, thus reinforcing the strength and reach of Ritchie Bros' online auction platform.
Key Highlights:
•The auction saw a remarkable level of global participation, with a total of 981 bidders from 69 countries. 
This included 416 bidders from the UAE and 565 international bidders, highlighting the extensive global reach and appeal of Ritchie Bros. auctions. 
The diverse participation underscores its platform's ability to attract interest from buyers across various regions, solidifying our presence in the global market, said the company in a statement.
The event featured a high volume of sales, with a total of 1,123 lots sold. The auction drew 309 buyers, of which 215 were from the UAE and 94 were international. 
This significant number of buyers demonstrates the trust and reliability that participants place in Ritchie Bros. for acquiring quality industrial equipment.
According to Ritchie Bros., the top bidding countries were led by the UAE, with 416 bidders participating in the auction.
The US came second with 145 bidders followed by Canada with 138 bidders, Saudi Arabia with 27 bidders, and the UK with 20 bidders. These statistics reflect the widespread interest and competitive bidding environment fostered by our auctions.
The Dubai auction witnessed top sales of equipment and trucks drawing solid participation. The demand was more for construction equipment including:
*2016 Cat 745C Articulated Dump Truck (5,034 hours) which got sold for $167,500 
*2018 Komatsu PC400LC-8R Hydraulic Excavator (6,198 hours) – sold for $111,000 
*2012 Cat 740B Articulated Dump Truck (7,932 hours) – sold for $101,000 
*2014 Cat 336D2L Hydraulic Excavator (5,604 hours) – sold for $53,000 
Among the transportation equipment, the demand was for:
*2016 Nissan Patrol Pickup – sold for $19,000 
*2015 Toyota Land Cruiser Pickup – sold for $17,000 
*2016 Mercedes-Benz Sprinter 515 CDI Van – sold for $15,000 
Among the lifting and material handling equipment, the favourites were:
2006 Cat DP150 15 ton Pneumatic Tire Forklift – sold for $24,000 
2021 Hyster S1.5UTS 1.5 ton Electric Stacker (unused) – sold for $13,000 
2022 Doosan D15S-5 1.5 ton Pneumatic Tire Forklift (unused) – sold for $12,500
According to  Ritchie Bros., the auction generated substantial online interest with 1,244 registrations, and 16,314 items added to watchlists, demonstrating the robust digital engagement and demand for the auctioned items.
A global asset management and disposition company with branches worldwide, Ritchie Bros. is offering customers end-to-end solutions for buying and selling used heavy equipment, trucks, and other assets. 
In the Middle East, it is at the Jebel Ali Free Zone in Dubai. The Middle East team includes territory managers that service the entire GCC region, as well as Egypt, Africa, and the Indian Subcontinent.-TradeArabia News Service



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