Ritchie Bros. holds its largest Toronto auction
By Andrew Macklin
May 13, 2016 – On May 11-12, 2016, Ritchie Bros. sold more than 3,000 equipment items and trucks for $36+ million at its Toronto site, the company’s largest Toronto auction.
The unreserved auction attracted 4,050+ bidders, in person at Ritchie Bros.’ Toronto auction site (in Bolton) and online. About 89 per cent of the equipment was sold to Canadian buyers. Buyers from the United States purchased 9.5 per cent.
Close to 600 owners sold equipment in the auction, including Technicore Underground and Alloa Excavating.
“I’ve been buying and selling with Ritchie Bros. for 30 years—I trust them,” said Tony Dimillo, CEO of Technicore Underground, a Newmarket, ON-based tunnel contractor that was selling heavy haul trucks and live-bottom trailers. “The trucks and trailers we sold this week were specifically bought to move earth for the Eglinton Crosstown subway project. The project is complete so we brought them to Ritchie Bros. and I’m pleased with the results.”
“We are retiring from the apartment restoration business after 30 years and came to Ritchie Bros. to sell everything,” said Tony Alloa, president of Caledon, ON-based Alloa Excavating. “I’ve bought before, but this is my first time selling with Ritchie Bros.—it was an emotional experience, but it went well.”
Specific equipment sales highlights:
- 16 Kenworth T800 T/A heavy haul trucks sold for a combined $2.05+ million
- 14 ABS 48-ft Quad/A live-bottom trailers sold for a combined $1.25+ million
- Seven Caterpillar 740 6×6 articulated dump trucks sold for a combined $962,500
- Two Mack GU813 dump trucks sold for a combined $222,500
- A 2007 Caterpillar D8T crawler tractor sold for $215,000
- A 2014 International 5900I SBA Paystar Eagle dump truck sold for $157,500
- A 2011 John Deere 350D hydraulic excavator sold for $135,000
- A 2015 Volvo VNL64T670 sleeper truck tractor sold for $125,000
Auction quick facts: Toronto, ON (May 2016)
- Gross auction proceeds – CA$36+ million
- Amount sold to online bidders – CA$16+ million
- Total registered bidders (onsite and online) – 4,050+ bidders from 44 countries
- Online registered bidders – 2,300+
- Number of lots sold – 3,000+
- Number of sellers – 595+
There are 95+ upcoming auctions on the Ritchie Bros. auction calendar, including the next Toronto auction in July.