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Ritchie Bros. sells almost $50 million of equipment in Ontario auction

Toronto – Ritchie Bros. sold more than 4,300 equipment items and trucks in its largest-ever Toronto auction. The online event held from March 9 to 11 attracted 35 per cent more bidders year over year and achieved $49 million in gross transaction value.

Despite tight market supply, Ritchie Bros. sold a record amount of equipment in Toronto last week, including 320 truck tractors, 210 aerial work platforms, 120 compactors, 95 skid steers, 55 excavators, and more. Specific sales highlights included a 2018 John Deere 380G excavator that sold for $315,000; a 2017 Mack GU813 granite dump truck that sold for $175,000; and a 2019 Kenworth T800 T/A sleeper heavy haul truck that sold for $143,500. All items were sold unreserved and all bidding was conducted online.

“Following excellent recent results in Edmonton, Orlando, and our Rocky Mountain Regional Auction, we continue to achieve strong pricing for consignors, regardless of auction type or location,” said Ryan Pottruff, regional sales manager, Ritchie Bros. “Last week’s record-breaking Toronto auction saw particularly strong price realization for transportation equipment, with Class 8, dump trucks, and heavy haul trucks achieving incredible prices. Leading up to the sale we saw a ton of buzz online, with pageviews, watchlists, and PriorityBids all up year over year. We encourage interested sellers to contact us today to take advantage of the strong market.”

Close to 10,000 bidders from 67 countries registered for the three-day Toronto auction. Approximately 93 per cent of the equipment in the auction sold to Canadians, including 73 per cent sold to Ontario buyers, while the remaining seven per cent was sold to international buyers from as far away as Singapore, Peru, and the United Kingdom.

• Gross Transaction Value: $49 million
• Total Registered Bidders: 10,000
• Total Number of Lots: 4,300
• Total Number of Consignors: 700

Ritchie Bros. will sell more than 70,000 equipment items and trucks in its upcoming auctions, including a two-day Chilliwack, B.C. auction from March 17 to 18; Regina, Sask., from March 23 to 24; and a Montreal, Que., auction from March 24 to 26.