Ritchie Bros. conducts largest Mexico auction in its history

By Land Line staff | Thursday, April 05, 2012

Ritchie Bros. Auctioneers’ first-ever Mexico national auction broke records last week for highest gross auction proceeds and largest number of bidders.

Ritchie Bros., the world's largest auctioneer of used and unused heavy equipment, set multiple records at its first-ever Mexico national auction held in Polotitlan, state of Mexico, on March 28-29, 2012.

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. The unreserved public auction set new company records in Mexico for highest gross auction proceeds – nearly $19 million (US) – and most bidders at 735.

In the transportation sector, more than 60 truck tractors were sold. In that group, the high sellers were two 2012 Freightliner Cascadias that went for $82,500 each. The median sale price of tractors was $44,000. The low seller went for $3,250.

A corporate communications rep from Ritchie Bros. told Land Line that the tractors came mainly from northern Mexico – Baja, Sonora, Chihuahua, Coahuila, Durango – and that many of them were being used to haul equipment from the recently booming mining operations in the region, mainly gold and copper. The sellers of the trucks reside in Mexico, but also operate in the U.S. and Canada.

More than 700 people from 27 countries, including 32 Mexican states, registered to bid in person or online from as far away as Australia, Malaysia, Ireland and India. Bidders from outside of Mexico purchased nearly $2 million (U.S. dollars) worth of equipment (10 percent of total gross auction proceeds). In total, more than 325 bidders registered online and purchased more than $4 million worth of equipment.

Additional equipment included 36 crawler tractors, 27 hydraulic excavators, 26 wheel loaders, 12 articulated dump trucks and more.

The company has been in business for more than 50 years and has been conducting unreserved heavy equipment auctions for more than 15 years in Mexico.

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