Ritchie Bros.’ Second-Quarter Income Dips

Ritchie Bros. Auctioneers said its second-quarter profit slipped from a year ago to $30 million, or 28 cents per share, from $31.3 million, or 29 cents, a year ago.

Gross auction proceeds declined 10% to $1.1 billion on a rise on the average age of items sold.

Ritchie Bros. describes itself as the world’s largest seller of used equipment for the construction, transportation, agricultural, material handling, energy, mining, forestry, marine and other industries.

The Vancouver, British Columbia-based company reports its earnings in U.S. dollars.