WATCH ABOVE: Ritchie Brothers is hosting its largest ever Canadian sale, and most of the heavy duty equipment on the block is from Alberta. Kendra Slugoski reports.
EDMONTON – Ritchie Bros. is hosting its largest ever Canadian sale, and most of the heavy duty equipment is coming from Alberta.
The auction features more than 8,000 pieces of equipment for sale. Excavators, tractors and dump trucks are amoung the items people can bid on.
“It’s unbelievable. You wear out a pair of shoes walking around. It’s almost mind blowing. You can’t differentiate between the stuff you need and the stuff you want,” said Adam Wilimek, buyer.
Wednesday was only the second day of the auction and it was already breaking records, with more than 10,000 buyers registered.
“This is abnormal amount as far as what we’ve seen here over the last two years,” said Brian Glenn, Ritchie Bros. Auctioneers.
Those attending the auction believe it’s obvious the drop in oil has forced many companies to downsize.
Frank Richardson buys and sells at every auction. His company is twinning Highway 63. He sees the slow down all around him.
“If you’ve got no work, it’s pretty tough to pay for them. I would say that’s some of the reason for selling.”
The event is expected to generate more than $100 million in sales. With that kind of cash being thrown around, it isn’t all doom and gloom in Alberta.
With files from Global News’ Kendra Slugoski
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