Vancouver-headquartered Ritchie Bros. Auctioneers (NYSE and TSX: RBA) set multiple records at its first Mexico national auction held in Polotitlan, State of Mexico, on March 28 and 29.
The company has been conducting unreserved heavy equipment auctions for more than 15 years in Mexico.
Last week’s auction set new company records in Mexico for highest gross auction proceeds (nearly US$19 million) and most bidders (735).
Participants bid in person from two Mexican locations as well as online in real time at www.rbauction.com.
In total, more than 1,150 heavy equipment items and trucks were sold during the two-day auction, with each item being sold to the highest bidder, regardless of price – with no minimum bids or reserve prices.
Jose Gerardo Flores Dominguez, manager of Constructora Arrendadora y Materiales, SA de CV, said, “With Ritchie Bros., we were able to sell our equipment to buyers from every corner of Mexico and beyond. The national event increased the level of national and international competition and in the end gave us the best possible results.”
More than 700 people from 27 countries, including 32 Mexican states, registered to bid in person or online.
Bidders from outside of Mexico bought nearly US$2 million worth of equipment. In total, more than 325 bidders registered online and purchased more than US$4 million worth of equipment.
