Ritchie Bros.’ latest Toronto auction has set new records for the company’s Ontario team.
The auction company sold more than 4,200 items at its site in Bolton, Ontario for more than $53 million, making it the company’s largest-ever auction in Ontario. The vent also included more than 800 consigners, another record for the province.
“We built some great momentum out of our record-breaking March sale, which resulted in some fantastic packages of trucks and equipment consigned to this auction,” said John Glenn, regional sales manager at Ritchie Bros. “Current market conditions, and our ability to drive demand, have resulted in buyers paying a premium for equipment and trucks right now, especially hydraulic excavators, wheel loaders, truck tractors, reefer trailers and dry vans.”
More than 9,200 online bidders from 67 countries registered for the May 11–13 Toronto auction. As well, about 89 per cent of the assets were sold to Canadians, including 65 per cent sold to Ontario buyers, while the remaining 11 per cent was sold to buyers from as far away as Australia, Ecuador, Poland and the Philippines. Interested buyers conducted more than 393,000 equipment views online, which is an increase of 78 per cent compared to the May 2020 Ontario auction.
Auction highlights
- 2016 Caterpillar 982M wheel loader ($390,000).
- 2005 John Deere 800C hydraulic excavator ($260,000).
- 2016 Caterpillar 745C 6×6 articulated dump truck ($202,500).
- 2006 Grove RT890E 90-ton 4x4x4 rough terrain crane ($200,000).
- 2015 Freightliner FL108SD T/A plow/sander truck ($180,000).
“We’ve been buying and selling with Ritchie Bros. for 25 to 30 years — their team is always punctual, knowledgeable, and helpful,” said Joe Mangiardi, president of Melrose Paving Company Ltd., based in Mississauga, Ontario. “We sold 10 plow trucks in Toronto last week and we were happy with the results. Bidding online is easy and convenient, but I still like to inspect, touch, and feel the equipment before I buy, so it’s great Ritchie Bros. still helps facilitate in-person inspection—it’s great for buyers and sellers.”
Ritchie Bros. will sell more than 50,000 equipment items and trucks in its upcoming auctions, including a two-day Chilliwack, B.C. auction on May 25 to 26; a Montreal, Quebec auction on May 26 to 27; and a Saskatoon, Saskatchewan auction on June 8 to 9.
