Ritchie Bros Auctions, the worlds largest industrial auctioneer held its largest ever Canadian auction last week in Nisku, Alberta with over 8000 pieces of heavy equipment and trucks with a value of $215 million. This may be a sign of what’s to come in Alberta for the next while, typically this indicates that contractors have an excess of equipment that is not being utilized, or perhaps they need to create cash flow for their businesses. The good news is that there are still buyers out there willing to purchase the equipment albeit at distressed prices.
