10.01.2011

Ritchie hits new crane record

Ritchie Brothers Auctioneers achieved a new record for crane sales last year, selling 1,870 cranes to 1,350 buyers from 63 countries. In total, crane sales generated over $155 million in gross auction proceeds.

The new record surpassed the previous record set in 2009 when the Company sold just over 1,700 cranes to 1,270 buyers from 60 countries for more than US$150 million.

Around 70 percent of the cranes sold in 2010 were purchased by buyers bidding on site at the company’s various locations. The remaining 30 percent were purchased by those bidding online.

Ritchie Bros president Rob Mackay said: “We’ve seen a steady increase in the number of cranes being sold at our unreserved auctions around the world in the last couple of years, including several high-value cranes that have sold for in excess of a million dollars. What this suggests is the growing confidence of crane owners in the Ritchie Bros. business model and our ability to reach the right buyers and deliver maximum returns on the sale of their assets."
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A previous Ritchie crane auction in Orlando

The biggest single sales for 2010 included a 2006 Manitowoc 16000 440-ton crawler crane sold in Denver, Colorado for $2.5 million and a 2007 Liebherr LTM-1250 All Terrain crane sold in Ocaña, Spain for €1.0 million to an online buyer from Chile.

The next big crane sale includes 60 cranes to go during a five-day auction in Orlando, Florida from February 15 – 19th. The cranes include Rough Terrain, All Terrains and truck cranes. The will be sold to the highest bidders, regardless of price, with no minimum bids or reserves.