Ritchie Bros. sells over CA$48 million of equipment in company's largest Montreal, QC, auction
Ritchie Bros. has conducted its largest Montreal auction ever, selling close to 3,000 equipment items and trucks for CA$48+ million (US$38+ million). The March 23 - 25 unreserved online auction attracted more than 7,400 registered bidders from 40+ countries.
"We continue to attract a massive global buying audience online, driving record pricing for assets, especially transportation equipment," said Eric Roussin, regional sales manager at Ritchie Bros. "Trucks and trailers are attracting unprecedented demand in today's market, with light-spec truck tractors, van trucks, hi-boys, and reefer trailers bringing top dollar last week in Montreal. If you have surplus transportation assets, I encourage you to contact us to take advantage of the incredibly strong prices we are achieving today."
Sales highlights in the Montreal auction include a 2017 Caterpillar D6T LGP dozer that sold for CA$252,000; two 2020 Kenworth W990 sleeper truck tractors that sold for a combined CA$385,000; and a 2019 Peterbilt 389 sleeper that sold for CA$155,000. Approximately 90 percent of the equipment in the Montreal auction was sold to Canadians, including 61 percent sold to Quebecers, while the remaining 10 percent was sold to international buyers from as far away as Ecuador, Malaysia, and The Netherlands. All items were sold without minimum bids or reserve prices.
On March 22 - 23 last week, Ritchie Bros. also held its first Northeast Regional Event of the year, with equipment stored and sold from four different locations: North East, MD; North Franklin, CT; Pittsburgh, PA; and Raleigh-Durham, NC. The two-day online auction attracted more than 8,900+ bidders to compete for approximately 4,900 items, generating US$42+ million in gross transaction value.
"Our local yards are gaining momentum and our team is doing a great job of finding equipment to sell in a tight market environment," said Jason Kirkconnell, regional sales manager at Ritchie Bros. Kirkconnell also said that low-hour and ready-to-work equipment has continued its strong performance and that Ritchie Bros has site auctions along with weekly featured online events.
Sales highlights in the Northeast event included a 2019 Caterpillar 950M wheel loader that sold for US$290,000; a 2020 Peterbilt 389 tri-axle dump truck that sold for US$200,000, and a 2018 Komatsu PC238USLC-11 hydraulic excavator that sold for US$177,500. Approximately 94 percent of the assets in the auction were sold to U.S. buyers, while the remaining 6 percent was sold to international buyers from as far away as Brazil, India, and Japan.