Ritchie Bros Auctions 54M in Wyoming Energy Equipment Sets Record

In today's volatile energy sector, optimizing equipment assets has become a critical focus for companies. The recent single-owner auction conducted by Ritchie Bros. in Casper, Wyoming offers valuable insights into maximizing value from idle or surplus heavy equipment.

On March 25, 2015, Ritchie Bros. Auctioneers (NYSE, TSX: RBA) achieved a company milestone with its Casper, Wyoming sale for Energy Transportation Inc. The auction generated over $54 million - setting a new Ritchie Bros. record for single-owner sales. The event featured 38 cranes that collectively sold for more than $35 million.

More than 3,000 bidders from 47 countries participated in the live and online auction. Energy Transportation, Wyoming's largest full-service crane, rigging and heavy haul provider, chose Ritchie Bros.' unreserved public auction method to liquidate its entire fleet.

A highlight of the auction was the sale of a 2010 Liebherr LTM1500-8.1 600-ton all-terrain crane for $3.35 million - the highest price ever achieved by Ritchie Bros. for such equipment. This result demonstrated both the machine's premium quality and the auctioneer's market influence.

"Our highly successful Casper auction featured an exceptional offering of cranes, trucks and trailers, representing one of the largest underwritten liquidations in company history," said Ritchie Bros. CEO Ravi Saligram. "Today's strong results reflect the power of our brand to attract buyers worldwide and demonstrate our customer relationships, marketing capabilities, operational expertise, and most importantly, our consignor's trust."

Notably, over $43 million (78%) of equipment sold to buyers outside Wyoming, while online participants purchased approximately $20 million (36%) of assets - showcasing Ritchie Bros.' global marketing network and digital platform effectiveness.

Energy Transportation founder Dan McGlade, who sold operational interests to NCSG Crane & Heavy Haul Corp earlier in 2015, opted to liquidate equipment separately through Ritchie Bros. "Bidder participation exceeded our expectations, driving strong equipment values," McGlade noted. "Ritchie Bros. was the only company that could facilitate this transaction. Their marketing efforts alone were extraordinary."

McGlade described the event as bittersweet after three decades of building his company, but expressed confidence that NCSG would maintain service quality with the existing team.

• 2010 Liebherr LTM1500-8.1 600-ton crane - $3,350,000
• 2011 Liebherr LR1600/2 660-ton crawler crane - $3,300,000
• 2013 Grove GMK7550 550-ton crane - $2,725,000
• Two 2008 Manitowoc 16000 440-ton cranes - $2,325,000 each
• 2012 Grove GMK6350 350-ton crane - $2,200,000

• Total gross auction proceeds - Over $54 million
• Online buyer purchases - Approximately $20 million
• Total registered bidders - 3,000+
• Online-only bidders - 2,000+
• Total lots sold - 2,290+

Ritchie Bros.' worldwide presence attracted bidders from 47 countries, demonstrating the value of international market access.

The no-reserve price format created competitive bidding environments that maximized asset values.

The $20 million in online purchases highlights the growing importance of digital auction platforms.

Ritchie Bros.' equipment knowledge and operational experience ensured proper valuation and presentation of assets.

• Globalization: Equipment markets increasingly transcend geographic boundaries
• Digitization: Online platforms are becoming essential sales channels
• Specialization: Deep equipment knowledge creates value in transactions
• Customization: Tailored solutions meet diverse client needs

This landmark transaction demonstrates how strategic asset liquidation can deliver optimal results in today's dynamic equipment markets.