RBA - Ritchie Bros reports strong online auction results

Ritchie Bros. Auctioneers ( NYSE: RBA ) announced that it sold more than 4,980 equipment items for 675 consignors to generate more than $54M in gross transaction value.

The three-day online auction attracted 11,290 bidders from more than 50 nations.

Approximately 89% of the equipment in the unreserved auction was sold to U.S. buyers, including 47% sold to Texans. The remaining 11% of the equipment was sold to international buyers from as far away as Germany, Australia, and Singapore.

Ritchie Bros. ( RBA ) noted that it has more than 70K items selling in upcoming auctions and online marketplaces, including a Fort Worth sale on September 20-22 that will feature a wide selection of oil & gas-related equipment.

Shares of RBA are up 13.16% on a year-to-date basis.

The Seeking Alpha Quant Rating on Ritchie Bros is Hold.

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