May 10 – 12 auction attracted 7,950+ online bidders
Last week, we conducted our 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 May 10 – 12 online Toronto, ON auction attracted 7,950+ bidders around the world, with Canadians purchasing approximately 91% of the assets, including 65% sold to Ontarians.
"We bulldozed past our previous Toronto sales record, set last May, with gross transaction value up approximately 35% year over year," said Ryan Pottruff, Regional Sales Manager, 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."
More than 730 companies sold equipment in the three-day auction, including Bolton, ON-based consignor James Dick Construction.
"We got more money for our trucks than we anticipated," said Toronto consignor James Dick of James Dick Construction. "We've been in the snow plow business for a lot of years, but we want to focus more on our aggregate and hauling business going forward. I've been dealing with Ritchie Bros. since I started—their advertising is the best!"
Five big sellers in Toronto
Approximately 4,200+ equipment items and trucks were sold in the May Toronto auction, including 260+ truck tractors, 75+ snow plow trucks, 140+ compactors, 90+ loaders, 80 motor graders, 75+ skid steers, and 45+ skid steers. Every item in the auction was sold without minimum bids or reserve prices. Below are five of the biggest selling items in the auction:
2018 Caterpillar 988K wheel loader – CA$365,000 (US$280,503)
2019 Gomaco GT3600 curb & gutter machine – CA$340,000 (US$261,290)
2021 International HV607 SBA plow truck – CA$270,000 (US$207,495)
2021 John Deere 550K dozer – CA$182,500 (US$140,251)
2019 Volvo VNL twin-axle truck tractor – CA$177,500 (US$136,409)
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