Industrial auction major, Ritchie Bros Auctioneers, will hold two more unreserved public auctions of equipment in India this year.
“India is a potential market where equipment worth $15 billion (Rs 75,000 crore) is sold each year. We are planning to hold two more auctions and we are in the process of finalising the auction sites,” Sameer Malhotra, country manager, Ritchie Bros Auctioneers, said.
“In India, the equipment auction concept is very new. Now we are in the process of educating people about the auction, and we are investing on manpower and infrastructure,” he added.
The auction, which took place here on Wednesday, featured a variety of construction, transportation and agricultural equipment including crawler tractors, wheel loaders, hydraulic excavator, rough terrain cranes, concrete pumps, pavers, rollers, mixer trucks, telescopic forklifts and skid steer loaders for the public with no minimum bids or reserve prices. The previous auction in Hyderabad, which was held in February 2010, saw close to 300 on-site and online bidders from 13 countries.
Ritchie Bros operates in over 25 countries with 41 auction sites worldwide.
