Ritchie Brothers experiences record auction sales

Ritchie Brothers Auctioneers recently announced a 30 percent gross auction sales increase of an estimated $2.72 billion for 2006. The company conducted 177 unreserved industrial auctions in 2006 in 13 countries. They also held 141 unreserved agricultural auctions and one unreserved real estate auction during the year.

Average gross auction sales per industrial auction in 2006 reached over $14 million.
More than 241,000 bidders registered for Ritchie Brothers industrial auctions last year, with approximately 74,000 of those resulting in buyers. In comparison, the company noted that 213,000 bidder registrations in 2005 resulted in 62,000 buyers.

Also setting a record last year was the Ritchie Brothers’ permanent auction site of Orlando, Florida, which held the largest auction that the company has had in more than 40 years of business. The auction generated sales of more than $113 million.