The sliding Canadian dollar may have an impact on Thursday’s multi-million dollar unreserved auction at the Ritchie Brothers location in Prince George. Wednesday afternoon, the dollar fell to it’s lowest level in more than a decade, trading for less than 77 cents on the American dollar. Analysts say the dollar’s weakness is good for those selling goods and services into the United States and for the Americans who are purchasing those goods and services.
Ritchie Brothers Regional Manager for B.C. Sales, Adam Pruss says the low Canadian dollar is catching the attention of American buyers. “There is a lot of equipment that can go into the U.S., so it will peak the interest,” said Pruss. He added, “that helps because even if a U.S. buyer doesn’t purchase the equipment, they bid on it and they bring the value up.”
More than one thousand lots of items will go up for sale Thursday morning including recreational boats, forestry equipment and even a used compressor substation.