Ritchie Bros. sells CA$102 million worth of equipment across auctions in Ontario and Manitoba
Ritchie Bros. has conducted its largest-ever auctions in Ontario and Manitoba, selling CA$71+ million (US$54+ million) of equipment and trucks in Toronto and CA$31+ million (US$24+ million) of assets in Winnipeg. The multi-day online auctions attracted a combined 11,900 registered bidders for more than 6,400+ items between the two events.
"We bulldozed past our previous Toronto sales record, set last May, with gross transaction value up approximately 35 percent year over year," said Ryan Pottruff, Regional Sales Manager at Ritchie Bros. "There was a lot of demand from consignors to be a part of this event, so we made full use of our Thunder Bay satellite yard and an additional offsite location in the Toronto area to ensure there was enough room for everyone, and it paid off. Consignors were very pleased with the strong pricing we achieved during all three days of the auction."
Approximately 91 percent of the equipment in the Toronto auction was sold to Canadians, including 65 percent sold to Ontarians. The remaining nine percent was sold to international buyers from as far away as Ecuador, Egypt, and the Netherlands.
"We got more money for our trucks than we anticipated," said Toronto consignor James Dick of James Dick Construction. "We've been in the snowplow business for a lot of years, but we want to focus more on our aggregate and hauling business going forward."
One province over, in Manitoba, Ritchie Bros. conducted a one-owner auction for Borland Construction Inc. The May 11 to 12 online auction attracted bidders from 28 countries, but Canadians purchased 94 percent of the assets, including 70 percent sold to Manitobans.
"We don't think anyone could do a better job than Ritchie Bros. in creating demand for our equipment," said Henry Borger, President of Borland Construction. "Ritchie Bros.' reputation attracted thousands of bidders from around the globe and their online platform enabled them to bid securely and efficiently. The knowledge and assistance from Ritchie Bros.' representatives were invaluable. They provide all the key ingredients–bidders, information, and process–for a competitive auction that maximizes returns."
Top selling items of the Toronto and Winnipeg auctions
- 2018 Caterpillar 988K wheel loader – CA$665,000 (US$510,454) - sold in Winnipeg
- 2018 Caterpillar 973K crawler loader – CA$610,000 (US$468,236) - sold in Winnipeg
- 2016 Wirtgen WR240I wheel soil stabilizer – CA$605,000 (US$464,398) - sold in Winnipeg
- 2013 ELRUS mobile control van – CA$480,000 (US$368,448) - sold in Winnipeg
- 2019 Gomaco GT3600 curb & gutter machine – CA$340,000 (US$261,290) - sold in Toronto
- 2021 International HV607 SBA plow truck – CA$270,000 (US$207,495) - sold in Toronto
- 2021 Mack AN64 Anthem 6x4 dump truck – CA$240,000 (US$184,224) - sold in Winnipeg
- 2021 John Deere 550K dozer – CA$182,500 (US$140,251) - sold in Toronto
- 2019 Volvo VNL twin-axle truck tractor – CA$177,500 (US$136,409) - sold in Toronto
- 2019 Peterbilt 567 twin-axle truck tractor – CA$152,500 (US$117,196) - sold in Toronto