Ritchie Bros. prepares for large 5-day public unreserved auction in Orlando, FL

Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, is preparing for a five-day unreserved public equipment auction at its permanent auction site in Orlando, Florida from February 15 – 19. More than 2,600 equipment items, cranes and trucks are quickly filling up the 200 +/- acre Orlando auction yard. Items will continue to be added daily right through to auction day.

The Orlando February auction is typically the largest industrial auction on the Ritchie Bros. auction calendar, attracting a large crowd of international bidders each year. More than 7,000 registered on-site and online bidders from 75 countries competed for 7,200 equipment items sold in last year’s Orlando February auction; approximately 85 percent of equipment was purchased by bidders from outside Florida.

“Each year, the February auction in Orlando sets the tone and really drives what happens the rest of the auction year,” said Steve Kriebel, Regional Manager, Ritchie Bros. Auctioneers. “The auction also attracts a large representation of bidders from around the world, ready and willing to compete for the equipment they need, resulting in better returns on equipment for owners. As with every auction we conduct, everything is sold unreserved, meaning sellers always have the certainty that their equipment will be sold on auction day to the highest bidders, regardless of price.”

A major highlight of this year’s Orlando auction is more than 100 cranes, including rough terrain, all terrain, hydraulic truck, crawler and tower cranes. During the past two years, Ritchie Bros. has seen a steady increase in the amount of cranes being sold at its auctions worldwide. In 2010, the Company achieved record-breaking crane sales, selling 1,870 cranes to buyers in 63 countries worldwide, which generated over US$155 million in gross auction proceeds.

In addition to cranes, also being sold during the five-day Orlando auction, is a large volume of all types of construction, aggregate and paving equipment, aerial and lifting equipment, trucks, trailers and attachments. Every item will be sold to the highest bidder with no minimum bids or reserve prices.