POLOTITLAN, EDO. DE MEXICO, MEX - Ritchie Bros. Auctioneers, an industrial auctioneer, held an unreserved public auction Dec. 8, 2009, to celebrate the Grand Opening of its new permanent auction site located in the Municipality of Polotitlan, Estado de Mexico - km 133 on the Mexico-Queretaro Highway (MEX 57D). Based in Vancouver, Canada, Ritchie Bros. has been holding unreserved public auctions for more than 50 years, and has been holding unreserved auctions in Mexico for more than 14 years. The Company has 39 auction sites around the world.
Ritchie Bros.' heavy equipment auctions are not new to Mexico. The Company started conducting public auctions in Latin America in 1996, mainly at a regional auction site in Toluca as well as at many off-site locations throughout the country. Every auction the Company holds is unreserved - meaning there are no minimum bids or reserve prices and everything sells to the highest bidders on auction day. At the beginning of this year, the Company moved its operations from Toluca to Polotitlan, where three successful multi-million dollar auctions have already taken place while the construction of the new facilities was underway.
"We are excited to have a permanent presence in Polotitlan," says Luis Farias, Ritchie Bros. Auctioneers Regional Manager. "A larger and more accessible site in Polotitlan allows us to better serve local buyers and sellers of trucks and equipment. Our site is easily accessible from one of the major trade routes in Mexico - the Mexico-Queretaro highway. Additionally, our new site has a separate check-in building and a climate-controlled auction theater, where our customers can bid from the comfort of their seat and out of any inclimate weather."
Located a little over an hour's drive north of Toluca and Mexico D.F. and about a 40-minute drive south of Queretaro, off the Mexico-Queretaro highway (MEX 57D), the new Ritchie Bros. permanent auction site in Polotitlan is 69 +/- acres (28 hectares) of developed land and 259 +/- acres (105 hectares) of additional land for possible development in the future. The facilities include a 30,000 square foot (3,000 square meter) auction theater with a seating capacity for more than 500 people, new offices as well as a new 3,850 square foot (385 square meter) check-in building. A new equipment refurbishing facility, which will be ready in January of 2010, is currently under construction. The new refurbishing facility, approximately 10,000 square feet (1,000 square meters) in size, will house sand blasting, painting and detailing as well as re-circulating power washing stations.
"If I'm not buying or selling equipment at a Ritchie Bros. auction, I still like to attend because I am able to get a clear perspective on current market conditions. I also tend to meet with friends and colleagues from the industry - making the auctions enjoyable, social events to attend as well," says Enrique Diaz Leal Aldana, Secretary of the Board and Chamber President for the State of Queretaro, Mexican Construction Chamber (CMIC). "This kind of atmosphere is difficult to find anywhere else - Ritchie Bros. has cultivated this environment from their auctions in Toluca and their permanent establishment in Polotitlan reflects their commitment to the industry and to the region."