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Custom-tailored onsite plan attracts global bidders to unreserved Texas auction
HOUSTON and WESTCHESTER, Ill., Aug. 17, 2023 /PRNewswire/ - RB Global, Inc. (NYSE:RBA) (TSX:RBA), a trusted global marketplace for insights, services and transaction solutions for commercial assets and vehicles, today announced that its subsidiary Ritchie Bros. Auctioneers (America), Inc. sold nearly US$44 million of equipment for industry-leader WB Pipeline LLC on August 9, in Splendora, Texas. Thousands of bidders onsite and online around the world competed for more than 2,700 pieces of diverse, well-maintained, ready-to-work equipment items in Ritchie Bros.' largest pipeline construction auction of the year.
The auction was part of a strategic downsizing initiative for WB Pipeline. The company will continue to serve its clients with unwavering dedication and uphold its commitment to safety, quality and customer satisfaction.
"The collaboration between WB Pipeline and Ritchie Bros. proved to be a winning combination, resulting in a dynamic auction atmosphere that effectively showcased the high-quality equipment available," said WB Pipeline CEO, William B. Haines. "This achievement underscores Ritchie Bros.' ability to deliver outcomes for their clients, solidifying their reputation as a leader in the auction industry.
"We extend our heartfelt appreciation to all those who participated in the auction," Haines added.
More than 5,500 people from over 40 countries registered to bid in the unreserved auction in suburban Houston. Approximately 94% of the equipment was purchased by U.S. buyers, including 64% sold to Texas buyers. The remaining 6% was sold to international buyers in Canada, Mexico, Belize, Bolivia and the United Arab Emirates.
"Ritchie Bros. was able to build a custom-tailored onsite plan for the restructuring of WB Pipeline that created a lot of energy around some of the best pipeline fleet in the world," said Jeff Jeter, Chief Revenue Officer at RB Global. "Our flexible solutions, marketing efforts and execution had customers excited and ready to go on auction day. I want to thank WB Pipeline and all our buyers for making this event a success!"
Ritchie Bros. has more than 50,000 equipment items and trucks in its upcoming auctions and online marketplaces, including auctions in Houston on August 22-25; Orlando on August 31-September 1; Fort Worth on September 19-21; and a Southeast Regional auction on September 21-22. For a complete list of upcoming auctions and events, visit rbauction.com/auctions.
