The unreserved auction was the first of Ritchie Bros' quarterly sales in Australia.

Regional operations manager Richard Tucker said about 60 percent of the equipment was bought by Queensland buyers, with the remainder of the equipment heading to NSW and some to New Zealand.

Ben Steinhardt, Coolum, and Ross Steinhardt, Gundiah, were in the market for excavators on Tuesday, where a good line-up of machines went under the hammer.

"Since the economy has improved, we thought we'd upgrade the equipment," Ross said.

Son Ben runs an excavation business on the coast and was on the lookout for equipment, for the right price. "It's not the biggest sale, but worth a look," Ross said.

The Steinhardt family runs a cattle operation near the Mary River near Tiaro, and is experiencing a good season after the early-year rainfall.

The transportation dominated sale drew over 1700 buyers to the Yatala site with impressive prices including the sale of a 2005 unused Caterpillar 735 Water Wagon for $600,000 and a 2008 Kenworth T908 for $245,000.

Mr Tucker said Australian industrial equipment sales were down only slightly last year due to the economy. "We had a very strong November sale and March sale for transportation, and I believe it can only get better."

The main contingent of buyers is made up of end users, including miners, contractors and quarries, with the auction held partly in the theatre where buyers view and bid for items over the ramp. "Selling over the ramp creates atmosphere - the machine is there in front of you."

Mr Tucker said the design of the unreserved auction gives comfort to consigners and buyers.

"Buyers know when they come to buy, they buy."