Ritchie Bros. sells CA$46+ million of equipment at its largest-ever Toronto, ON auction

Two-day auction attracts 5,800+ people from 53 countries; approx. 55% of equipment sold online

TORONTO, May 9, 2019 /PRNewswire/ - Ritchie Bros. set a new record in Toronto, ON this week, selling 3,750+ equipment items and trucks over two days for CA$46+ million (US$34+ million).

The May 7 – 8, 2019 auction attracted 5,800+ people from 53 countries, including 4,100+ online bidders. Approximately 88 percent of the equipment in the auction was sold to Canadian buyers, with buyers from Ontario purchasing 71 percent, while international buyers from countries such as Pakistan, Singapore, and the United Kingdom purchased 12 percent of the equipment. Online bidders purchased approximately 55 percent of the equipment.

"This was the highest GTV (gross transactional value) we've ever achieved in Eastern Canada," said Anna Sgro, SVP, Canada East Sales, Ritchie Bros. "It was also the most equipment we've ever sold in Toronto, consisting of large packages of gear from several of our longtime, loyal customers; as well as a great lineup of transportation, construction, and utility consignments from new customers. On top of this week's live onsite event, we also recently sold a 2008 Grove GMK7450 550-ton all-terrain crane located in Toronto through our online Marketplace-E sales channel for $1.2 million!"

More than 800 owners sold equipment in the Toronto auction, including the Newmarket, ON-based tunnel contractor Technicore Underground Inc.

"Ritchie Bros. are always great to work with," said Tony DiMillo, President of Technicore Underground. "Their customer service is excellent, they offer a variety of contract options, and have an expansive market reach. We sold just over 25 surplus items this week and were pleased with the results. We look forward to working with them again in the future." 

Toronto sales highlights included:

• A 2012 Caterpillar D8T dozer sold for CA$355,000
• A 2013 Peterbilt 367 T/A w/ National NBT 30H 30-ton boom truck sold for CA$270,000
• A 2002 Caterpillar 627G motor scraper sold for CA$260,000
• A 2012 Western Star 4900 tri-drive hydro vacuum truck sold for CA$200,000
• A 2017 Western Star 4900SB Tri/A dump truck sold for CA$180,000
• A 2019 Peterbilt 389 T/A sleeper heavy haul truck sold for CA$157,500

AUCTION QUICK FACTS: TORONTO, ON (May 2019)

• Total gross transactional value – CA$46+ million (US$34+ million)
• Amount sold to online bidders – CA$25+ million (US$18+ million)
• Total registered bidders (in person and online) – 5,800+ 
• Registered online bidders – 4,100+
• Total lots sold – 3,750+
• Number of sellers – 800+

Ritchie Bros. currently has more than 40,000 equipment items, trucks, and other assets listed for sale across all its auctions and marketplaces, including live events in Montreal, QC on May 22 – 23; Truro, NS on June 11; and Corner Brook, NL on June 27. For a complete list of upcoming auctions and equipment available, visit rbauction.com and ironplanet.com

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company's suite of multichannel sales solutions also includes RB Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy Auctioneers, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

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SOURCE Ritchie Bros. Auctioneers