Ritchie Bros. sets new record at Toronto auction

Ritchie Bros. Auctioneers
May 09, 2019
By Ritchie Bros. Auctioneers
Ritchie Bros. set a new record in Toronto this week, selling 3,750+ equipment items and trucks over two days for CA$46+ million (US$34+ million).

The May 7 – 8, 2019 auction attracted 5,800+ people from 53 countries, including 4,100+ online bidders. Approximately 88 per cent of the equipment in the auction was sold to Canadian buyers, with buyers from Ontario purchasing 71 per cent, while international buyers from countries such as Pakistan, Singapore, and the United Kingdom purchased 12 per cent of the equipment. Online bidders purchased approximately 55 per cent of the equipment.

"This was the highest GTV (gross transactional value) we've ever achieved in Eastern Canada," Anna Sgro, SVP, Canada East sales, Ritchie Bros., said. "It was also the most equipment we've ever sold in Toronto, consisting of large packages of gear from several of our longtime, loyal customers; as well as a great lineup of transportation, construction, and utility consignments from new customers. On top of this week's live onsite event, we also recently sold a 2008 Grove GMK7450 550-ton all-terrain crane located in Toronto through our online Marketplace-E sales channel for $1.2 million."

More than 800 owners sold equipment in the Toronto auction, including the Newmarket, Ont.-based tunnel contractor Technicore Underground Inc.

"Ritchie Bros. are always great to work with," Tony DiMillo, president of Technicore Underground, said. "Their customer service is excellent, they offer a variety of contract options, and have an expansive market reach. We sold just over 25 surplus items this week and were pleased with the results. We look forward to working with them again in the future."

Toronto sales highlights included:

• A 2012 Caterpillar D8T dozer sold for CA$355,000
• A 2013 Peterbilt 367 T/A w/ National NBT 30H 30-ton boom truck sold for CA$270,000
• A 2002 Caterpillar 627G motor scraper sold for CA$260,000
• A 2012 Western Star 4900 tri-drive hydro vacuum truck sold for CA$200,000
• A 2017 Western Star 4900SB Tri/A dump truck sold for CA$180,000
• A 2019 Peterbilt 389 T/A sleeper heavy haul truck sold for CA$157,500

AUCTION QUICK FACTS: TORONTO, ON (May 2019)

• Total gross transactional value – CA$46+ million (US$34+ million)
• Amount sold to online bidders – CA$25+ million (US$18+ million)
• Total registered bidders (in person and online) – 5,800+
• Registered online bidders – 4,100+
• Total lots sold – 3,750+
• Number of sellers – 800+

Ritchie Bros. currently has more than 40,000 equipment items, trucks, and other assets listed for sale across all its auctions and marketplaces, including live events in Montreal, QC on May 22 – 23; Truro, NS on June 11; and Corner Brook, NL on June 27. For a complete list of upcoming auctions and equipment available, visit www.rbauction.com and www.ironplanet.com

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