Ritchie Bros. sets new Ontario auction record

Ritchie Bros

Ritchie Bros. has set a new record for volume at its recent auction in Bolton, Ontario.

Last week the company sold more than 4,300 equipment items and trucks in its largest-ever auction. The March 9-to-11 online event attracted 35 per cent more bidders year-over-year and reached more than $49 million in gross transaction value.

Despite tight market supply, Ritchie Bros. sold a record amount of equipment at the auction, including more than 320 truck tractors, more than 210 aerial work platforms, 120 compactors, more than 95 skid steers and more than 55 excavators. Specific sales highlights included a 2018 John Deere 380G excavator that sold for $315,000; a 2017 Mack GU813 granite dump truck that sold for $175,000; and a 2019 Kenworth T800 T/A sleeper heavy haul truck that sold for $143,500. All items in were sold unreserved and all bidding was conducted 100 per cent online.  

“Following excellent recent results in Edmonton, Orlando and our Rocky Mountain Regional Auction, we continue to achieve strong pricing for consignors, regardless of auction type or location,” said Ryan Pottruff, regional sales manager for Ritchie Bros.

“Last week’s record-breaking Toronto auction saw particularly strong price realization for transportation equipment, with Class 8, dump trucks, and heavy haul trucks achieving incredible prices. Leading up to the sale we saw a ton of buzz online, with pageviews, watch lists and priority bids all up year-over-year. We encourage interested sellers to contact us today to take advantage of the strong market.”  

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With 100 per cent of bidding online, Ritchie Bros. attracted record online demand. The Ontario auction saw a 48 per cent increase in pageviews, a 66 per cent increase in watch list adds; and more than 11,000 priority bids. 

“With Ritchie Bros. your equipment gets the largest exposure and you get fantastic customer service, prompt communication, and one-stop shopping,” said Kevin Meisner, general manager of Meisner Construction Inc., which sold 40 items in the recent sale as part of a fleet realignment.

Close to 10,000 bidders from 67 countries registered for the three-day auction. About 93 per cent of the equipment in the auction sold to Canadians, including 73 per cent sold to Ontario buyers, while the remaining seven percent was sold to international buyers from as far away as Singapore, Peru and the United Kingdom.