39
JULY-AUGUST 2013
ACCESS, LIFT & HANDLERS
USED EQUIPMENT
quarter of 2013, achieving $14 million against
2012’s $17 million.
The company’s auction revenues during the
first quarter of 2013 grew +1 percent to $102.1
million compared to $101.3 million for the
same period in 2012.
During Q1, 2013, Ritchie Bros conducted 36
unreserved industrial auctions in 12 countries.
“We have started the year with a strong
auction revenue rate, however this did not
totally compensate for the fall in our gross
auction proceeds,” says Peter Blake, CEO,
Ritchie Bros.
According to Blake, a decrease in OEM
production due to the global recession has
impacted business for Ritchie Bros, as the
equipment it is now auctioning is older.
Online sales did see a boost in Q1 2013,
with Ritchie Bros selling over $289 million of
equipment, up +5 percent on 2012 figures.
Following this trend, Ritchie Bros has
continued with the roll out of its EquipmentOne
online marketplace.
“So far in the second quarter we have
continued our investment in Ritchie Bros.
EquipmentOne and are excited to have initiated
the commercial launch, which is a significant
part of our 2013 strategy,” Blake says. “We are
encouraged by our customer’s initial response
to this initiative.”
■
substantial earthwork improvements to develop
the property into a working auction site of 25
acres. Approximately 18 of the 25 acres will
be used for displaying equipment prior to an
auction.
Auction facilities planned as part of the
first phase will include a temporary large
auction tent with full in-person and online
bidding capabilities and seating capacity for
300 people, an equipment check-in building,
equipment washing facilities with closed loop
water recycling technology and a paved parking
area for customers.
Ritchie Bros. will continue to conduct
unreserved public auctions at its Hartford
(Stafford Springs), CT auction site until the new
auction site is ready later this year.
Despite the increase in Ritchie Bros’ footprint
across North America, the company reported
a -22 percent drop in net earnings for the first
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09/07/2013 11:28:40
