30
ACT
APRIL 2014
INDUSTRY FOCUS
AUCTIONS
Heavy haul trucks in demand
In addition to cranes, Ritchie Bros. unreserved public auctions feature large fleets of
late-model, well-maintained heavy haul trucks. The company’s February Orlando auction
featured 260 truck tractors, including a 2014 Peterbilt 389K, which sold for $112,500
to a buyer fromOntario, Canada and a 2009 KenworthW900, which sold for $90,000
to a buyer from South Carolina.
InMarch, Ritchie held an auction at its Las Vegas, NV permanent auction site. The
auction featured a large fleet of well-maintained, late-model Peterbilt and Kenworth
heavy haul trucks. Las Vegas transportation auction highlights included a 2009 Peterbilt
367 Tri/A truck tractor with a sleeper unit, which sold for $102,500; a 2008 Kenworth
T800Bwide-nose Tri/A truck tractor, which sold for $95,000; and a 2007 Peterbilt 379
T/A truck tractor, which sold for $78,000.
Stephen O’Duggan
discusses themarket for
cranes and heavy haul equipment at auctions.
inFebruary andMarchof 2014 and is
scheduled to conductmore than70 in the
monthofApril alone. Since the first of the
year, the companyhas held auctions in
Houston, Phoenix andTipton, CA.
The company’s fourth auctionof 2014
was held inOrlando, FLonFebruary
17-22.With thousands of heavy
equipment items and trucks changing
hands over sixdays, hundreds of sellers
and thousands of bidders from around the
world competing inperson andonline,
this year’sOrlando auction suggested
some encouraging trends inbothdemand
andpricing. Close to100 craneswere
featured in theunreservedpublic auction.
At auctions around theworld
throughout 2013, includingRitchieBros.
auctions, demandwas high for rough and
all-terrain cranes.
Crane auctionhighlights included a
70-ton capacity2012TerexRT670 rough
terrain crane that sold for $425,000 to a
buyer from Illinois.A300-ton capacity
GroveGMK6300 all-terrain crane sold for
$595,000 to abuyer fromFlorida.
In total, the six-dayOrlando auction
generatedmore than$166million in
gross auctionproceeds and set new
company records for online sales,with
onlinebuyers generatingmore than$54
million ingross auctionproceeds or 33
percent of total sales. Cranes constituted
approximatelyonepercent of the lots
available at theFebruaryOrlando auction,
but contributedmore than$11.8million
to the final gross auctionproceeds tally
generated.
Crane demand increases
In2013, RitchieBros. sold almost 1,500
crane items at unreserved auctions around
theworld. These included all types of
cranes and crane accessories likeblocks,
balls, jibs and rigginggear. This doesn’t
include all theother lifting andmaterial
handling equipment sold, includingboom
and scissor lifts, boom trucks andbucket
trucks.
Someof themost notablehigh-value
cranes sold in2013 atRitchieBros.
unreserved auctions include amassive
2008TerexDemagAC700700-ton-
capacity crane,which sold for €2,500,000
(more than$3.3million) at anunreserved
auction inOcaña, Spain. Thiswas the
largest all-terrain crane sold inRitchie
Bros.’ companyhistory.
Other highlights include two2012Terex
HC110110-ton crawler cranes,which
Auction
season
Companies needing
to find cranes to
fit their annual
project schedules
use auctions as a
resource.
T
he 2014heavy equipment
auction season iswell underway
and craneowners from
around theworld are looking at heavy
equipment auctions as a viableoption to
obtain cranes ingood condition and for
competitivemarket prices.
■
Sowhat does themarket for used
cranes at auctions currently look like?
■
What kinds of things should crane
buyers be lookingout forwhen
purchasing equipment at an auction?
■
How can thosewho are in themarket
for lifting andmaterial handling
equipment find an auctionnear them
they canparticipate in?
RitchieBros.Auctioneers, theworld’s
largest industrial auctioneer, heldmore
than40unreservedpublic auctions
