Vancouver-based Ritchie Bros. Auctioneers held the world's largest heavy equipment auction in Orlando, Florida, setting several company records, including gross auction proceeds of more than $200 million US.

"It's a nice milestone for us to achieve," Ritchie Bros. CEO Peter Blake said of the auction held last week. "Our previous record was in '08. That was $190 million US in gross auction proceeds - the value of everything sold. In more than 50 years of business, we have never held or seen an equipment auction of this magnitude."

New records set in the auction included gross auction proceeds ($203 million US), number of items sold (more than 10,000), number of registered bidders (8,670), of sellers (830), online gross proceeds (more than $47 million US) and number of online bidders (4,070). As well, there were bidders from 88 countries.

Blake said the auction is an indication U.S. companies are leaving the recession behind and that the market for heavy equipment is growing.