More than 550 people from 47 countries registered to bid on site, online and in a live auction simulcast in the Netherlands when Ritchie Bros. conducted a large unreserved auction in Dubai on November 26 & 27, 2007. More than 2,100 equipment items for the construction, transportation and other industries were sold in the auction, generating US$28 million in gross auction proceeds. Interested buyers could bid either in person at the Dubai auction site; by proxy; over the internet using rbauctionBid-Live; or at a live auction simulcast at the Company’s permanent auction site in Moerdijk, the Netherlands.

“The auction went extremely well,” said Steve Barritt, Ritchie Bros. Area Manager. “Although our online bidding service is easy and convenient for bidders who are unable to attend an auction in person, the live auction simulcast at our Moerdijk site opened up another avenue for our European customers, enabling them to bid live and in person on equipment being sold in the Middle East. At the same time, our Dubai consignors benefited from an increased audience of bidders for their equipment.”

More than 40 per cent of the lots in the Dubai auction went to buyers from outside the United Arab Emirates, including a 2004 Grove GMK5100 100-ton all terrain crane that was sold for US$890,000 to an online bidder from the Netherlands; five 2006 Mercedes-Benz Axor 4140B mixer trucks that were sold to an onsite bidder from Saudi Arabia; two Caterpillar D8R crawler tractors that were sold to an internet bidder from the United States; and eight 2008 60-ton lowboys that were sold to an onsite bidder from Algeria

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Posted: 12|3|07 at 1:59 pm. Filed under: News.