Ritchie Bros. Auctioneers Generates Over US$29 Mln In Gross Proceeds From Los Angeles Auction

Ritchie Bros. Auctioneers Inc. (RBA, RBA.TO) said it held an unreserved industrial auction in Los Angeles, California, through which it generated over US$29 million in gross auction proceeds.

The unreserved auction featured 2230 lots from more than 450 consignors and generated over US$29 million in gross auction proceeds. More than 800 registered bidders from 33 countries, including 44 U.S. states and eight Canadian provinces, attended the auction either in person or via the internet.

More than 650 of the registered bidders participated in the auction live and online using the Company’s online bidding service, rbauctionBid-Live.

The company said it helped California equipment owners transcend local market conditions and achieve global market value for their surplus equipment through this auction.

RBA is currently trading at US$61.70, up 32 cents.