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Its opportunity to shed the unwanted equipment comes today when Ritchie Bros. Auctioneers, the world's largest auctioneer of industrial products, conducts a sale starting at 8 a.m. at 1785 W. 'G' Ave., Building No. 655, in Tooele.
"They'll get bidders from all over the world," said Steve Bruskivage, Honnen Equipment's used equipment manager, citing the auction's allowance for online bids. "It's a new age, isn't it?"
The Ritchie Bros. Web site said each auction attracts, on average, about 1,450 bidders, even though many must deposit up to $10,000 to participate. In Tooele, they will have their pick of an estimated 551 pieces of equipment representing 83 categories of industrial equipment.
There are 13 dump trucks, 31 hydraulic excavators, 10 skid steer loaders and a slew of forklifts -- ones good in rough terrain, others that telescope up to hard-to-reach locations.
Cone crushers and impact crushers will be on the block, as will water and sanitation trucks, backhoes and excavators, scrapers and graders, light towers and air compressors -- even a couple of emergency vehicles.
Ritchie Bros. has been conducting auctions such as this since 1958. That's when three Ritchie brothers auctioned $2,000 of surplus inventory from their furniture
store in Kelowna, B.C., to pay a bank debt. The auction went so well they went into the business, holding their first industrial-equipment auction in 1963 and expanding into the United States in 1969.
The Ritchie Bros. 2009 calendar includes 43 public auctions. Today's action in Tooele follows sales last week in Las Vegas and Dubai and precedes auctions next week in Duluth, Minn., and Denver.
For Honnen Equipment, today's auction will be "let us put a few machines out there to thin things out," said Bruskivage.
While auctions often reflect trends in the construction-equipment industry -- "when times get tough, people take their equipment to auction. Then, when things get good, people go to auctions to buy equipment," he said -- today's does not fit that pattern. Bruskivage sees it more as a regular part of the auction circuit.
But that works great for a company such as his, which on May 1 acquired the assets of John Deere construction and forestry dealerships in Salt Lake City, Ogden, St. George and Idaho Falls.
The purchase marked the first move of Honnen Equipment -- it already had six locations in Colorado and Wyoming -- into Utah. It also gave the company a new product line to go with its existing portfolio of Hitachi and Wirtgen Group products.
Equipment from DC Transport & Excavating Inc. in Oakley also figures prominently in today's auction.
mikeg@sltrib.com
Ritchie Bros. Auctioneers
Founded in Canada in 1958, Ritchie Bros. went public in 2008 and was listed on the New York Stock Exchange under the trading symbol RBA. Total sales that year exceeded $1 billion for the first time.
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