Ritchie Bros. Auctioneers has signed a seven-year lease in Salt Lake City, Utah, and will be starting site work on a new auction site right away. Ritchie Bros. has conducted unreserved equipment auctions at temporary locations in Utah since 1985.

“We are excited to find a new home in Utah at a location that is convenient for both local and traveling customers,” said Mike Johnston, divisional manager, Ritchie Bros. Auctioneers. “We have decided to establish a presence in Utah because it has proven to have a diverse business climate serving a variety of industries, including construction, transportation, agriculture, mining and oil and gas.”

The new site, located at the Salt Pointe Commerce Center in Lake Point, Utah (approximately 20 mi. west of Salt Lake City), has approximately 37 acres of developable land. It is located 17 mi. west of the Salt Lake City International Airport, with 1,000 ft. of visibility along I-80.

“We feel very fortunate that Ritchie Bros. has decided to open an auction site in Utah,” said Nicole Cline, economic development director of Tooele County. “They are a strong, stable company and a great corporate citizen — we are proud to have them in our community. We also believe this new site will enhance the visibility of Ritchie Bros. in our state, which will aid in its success.”

Ritchie Bros. typically holds three to five public auctions at each of its auction sites around the world. The last multi-million dollar auction in Utah, held Nov. 13, 2009, attracted more than 1,000 registered bidders from 21 countries. Purchasers participated from as far away as Egypt, Spain, Korea, and from all over North America.