Ritchie Bros., CIM charity auctions makes half million
The first auction, a World of Concrete charity event , generated $558,000 for Concrete Industry Management’s post secondary education program — a new record for the annual auction.
At the second auction, which took place at Ritchie Bros.’ Las Vegas site, the company sold more than $24 million worth of equipment for more than 200 consignors. All items in the two public auctions were sold to the highest bidders – regardless of price – with no minimum bids or reserve prices. Bids were made in person at the auction site, online in real time at www.rbauction.com, or by proxy.
The 2012 CIM fundraising auction attracted more than 400 on-site and online bidders from around the world and raised $558,000 – surpassing the annual auction’s previous record by more than US$185,000. The auction, which took place during World of Concrete at the Las Vegas Convention Center on Jan. 25 , featured a wide range of donated items, including equipment, cement and sports packages from companies like Caterpillar Inc., Lafarge, Argos Cement, and more. The premier item in the auction, a Mack cement mixer truck, sold for US$130,000 to an on-site buyer.
More than $24 million worth of equipment was sold to more than 480 buyers in a single day at the Jan. 27 Las Vegas auction with close to 90 percent of sales going to buyers from outside the state of Nevada. The auction attracted bidders from as far away as Jordan, Nigeria, Saudi Arabia, and Venezuela. In total, more than 2,700 bidders from 41 countries, including 47 American states, nine Canadian provinces, and one territory, registered for the auction. More than 1,500 of those bidders (55 percent) participated online.
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