Amazing how far people will travel for equipment

Discussion in 'Heavy Equipment & Pavement' started by Gravel Rat, Apr 22, 2008.

  1. Gravel Rat

    Gravel Rat LawnSite Fanatic
    Posts: 9,544

    The Chemainus auction is today and all the logging equipment is being auctioned off. The logging contractor I know says there are logging companies from New Zealand to look and probably buy the two 124 yarders. Each new are 1 million each they might get them for 300,000 maybe less.

    In New Zealand they have the same logging practices as B.C. so they hoe chuck and Grapple yard wood.

    It looks like all the Madill log loaders and Yarders will be heading for a long journey from Vancouver Island to New Zealand. Hate to be the one that has to pay to ship 1000 tons worth of equipment :dizzy:

    It is good to see the New Zealand buyers might be willing to spend couple million dollars.

    I guess when you live on a Island miles away from large sources of equipment you have to travel half way around the world. They probably don't have newer equipment like what is being auctioned off today.

    There are 66 Ford P/U trucks being auctioned off with 90% of them being crewcabs. With 22 of them being 2003 models. The P/U trucks always seem to sell high people paying 5-10 grand more than what they are really worth.

    The auction turned from a logging equipment sale to everybody on Vancouver island getting rid of their worn out equipment.

    Hopefully the New Zealanders like what they see and spend lots of their money. Sure would be sad to see that stuff being chopped up for scrap and head for china.
     
  2. BOBCATZZ

    BOBCATZZ LawnSite Member
    Posts: 51

    If you seen the prices of equipment down here then you would travil to it is ludicris .Cat are the worst a new 953 is like 400+k and they dont even stock them special order only aussie dollar is close to the us dollar atm so there is no reason.
    One of the companys i sub contract too have just bought a140m grader it was like over 500k thats half a million .
    Worse thing of all is our rates are crap aswhell a operator on a 30ton excavator is on 22-23 dollers an hour the machines rate is 120-125 per hour thats a 400k cat 330c so go figure
    And they wonder why we have such a big labour shortage .
     
  3. Gravel Rat

    Gravel Rat LawnSite Fanatic
    Posts: 9,544

    Those hourly rates are low.

    There is no price results yet on the auction it will be curious to see what the equipment sells for.

    I was told all the P/U trucks were well worn out.

    I hope the New Zealand buyers found what they needed there is no market for that equipment in B.C. right now maybe next year or couple years.
     
  4. Gravel Rat

    Gravel Rat LawnSite Fanatic
    Posts: 9,544

    The two most expensive pieces of equipment in the Auction sold for more than I thought. Somebody must have needed grapple yarders it is sure not in B.C. One machine sold for 500,000 and the other for 550,000 that is d*mn good price for 2002 machines. Brand new they are 1 million each so for a machine that is 6 years old and getting 1/2 price for them.

    Ritchie Bros made something like 105,000 dollars off just selling those two machines.

    Some of the equipment sold for higher than I thought and some of it sold fairly cheap.
     
  5. cantoo

    cantoo LawnSite Silver Member
    Posts: 2,910

    Quoted: Gravel Rat
    Ritchie Bros made something like 105,000 dollars off just selling those two machines.
    How much do you figure Richie Bros spent advertising that equipment all over the world? Still think they made over $105g's selling those 2 pieces?
    FYI, they make deals with buyers on the 10% premium on large purchases like that. No doubt they made some serious cash but they also have some serious expenses. I go to several every year but have never real;y bought a lot there. They generally get what equipment is worth at their sales. In other words too expensive for a cheap azz like me.
     
  6. Gravel Rat

    Gravel Rat LawnSite Fanatic
    Posts: 9,544

    Ritchie Bros makes billions in a year they are one of the largest equipment auction companies in the world. I found out last week they started decades ago with a second hand store.
     
  7. cantoo

    cantoo LawnSite Silver Member
    Posts: 2,910

    They are a public traded company maybe you should buy some stocks.
     

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