Ritchie Bros. sets record with $44 million Toronto auction
Competition for used equipment and trucks has never been stronger, with supply chains disrupted and online demand driving record pricing for consignors. Ritchie Bros. attracted more than 8,500 online bidders from 65 countries to compete for just 3,400+ items selling in Toronto, ON, generating over CA$44 million in gross transaction value and setting a new December record for the site.
"We are seeing record equipment and truck pricing right now across all our auctions and marketplaces," said Ryan Pottruff, Regional Sales Manager, Ritchie Bros. "We've had an incredible year in Ontario, with multiple record-breaking site auctions and significant growth in the region for our online Marketplace-E channel, which provides sellers more control over the selling price and process for premier assets. We have also introduced a new satellite yard in Thunder Bay for customers in the region who want to display equipment and sell virtually in our Toronto sales."
More than 775 companies sold equipment in the December 6 to 8 Toronto auction. Approximately 84 percent of the items in the Toronto auction were purchased by Canadian buyers, including 67 percent sold to Ontarians. The remaining 16 percent was purchased by international buyers from as far away as India, Peru, and Vietnam.
Ritchie Bros. has a Canada East Timed Auction event scheduled for February 8, 2022, and the company's next Toronto site auction will be held March, 2022.
Five top sellers from the December Toronto site auction:
- 2020 Caterpillar 336GC hydraulic excavator - CA$350,000 (US$272,265)
- 2015 Vermeer HG6000TX crawler horizontal grinder - CA$300,000 (US$233,370)
- 2020 Kenworth T880 T/A sleeper heavy haul truck - CA$217,500 (US$169,193)
- 2012 Link-Belt RTC-80110 110-ton 6x6x6 rough terrain crane - CA$210,000 (US$163,359)
- 2007 Western Star 4900SA T/A sleeper tow truck - CA$180,000 (US$140,022)
2021 Ontario Marketplace-E sales highlights:
- 2018 John Deere 870G LC hydraulic excavator - CA$850,000 (US$668,000) - sold February 2021
- 2013 Peterson Pacific 5710C horizontal grinder - CA$640,000 (US$508,000) - sold March 2021
- 2013 Soilmec SC90HD crawler crane - CA$440,000 (US$343,000) - sold November 2021
- 2013 Kobelco CK110G crawler crane - CA$340,000 (US$281,000) - sold May 2021
- 2019 Western Star 4900SB vacuum truck - CA$330,000 (US$260,000) - sold September 2021
9500 Glenlyon Parkway
CA, V5J 0C6