News Details

Ritchie Bros. finishes record-breaking year in Ontario with CA$44+ million Toronto auction

December 16, 2021
Three-day online auction attracted 8,500+ bidders from 65 countries to compete for 3,400+ items

TORONTO, Dec. 16, 2021 /CNW/ - Competition for used equipment and trucks has never been stronger, with supply chains disrupted and online demand driving record pricing for consignors. Last week, Ritchie Bros. attracted more than 8,500 online bidders from 65 countries to compete for just 3,400+ items selling in Toronto, ON, generating CA$44+ million in gross transaction value and setting a new December record for the site.

"We are seeing record equipment and truck pricing right now across all our auctions and marketplaces," said Ryan Pottruff, Regional Sales Manager, Ritchie Bros. "We've had an incredible year in Ontario, with multiple record-breaking site auctions and significant growth in the region for our online Marketplace-E channel, which provides sellers more control over the selling price and process for premier assets. We have also introduced a new satellite yard in Thunder Bay for customers in the region who want to display equipment and sell virtually in our Toronto sales."

More than 775 companies sold equipment in the December 6 – 8 Toronto auction, including close to 50 items sold for G&G Service, an equipment and trucking company based in Thunder Bay, near the new yard.

"Pricing is unbelievable right now," said Ken Gaudette, owner of G&G Service. "The new Thunder Bay yard has great visibility from the highway and it's well organized. Ritchie Bros. is an excellent outfit with staff that are honest and knowledgeable. They are true professionals."

Approximately 84% of the items in the Toronto auction were purchased by Canadian buyers, including 67% sold to Ontarians. The remaining 16% was purchased by international buyers from as far away as India, Peru, and Vietnam. Leading up to the auction, the company saw a 108% increase in watchlisted items year over year, while online equipment pageviews were up 13%.

"We would like to thank all the customers who participated in our Ontario auctions this year," added Mr. Pottruff. "Please don't hesitate to contact us to let us know how we can help your businesses in the future."

Ritchie Bros. has a Canada East Timed Auction event scheduled for February 8, 2022 and the company's next Toronto site auction will be held March 2022.

Five Big Sellers from the December Toronto site auction:

  • 2020 Caterpillar 336GC hydraulic excavator – CA$350,000 (US$272,265)
  • 2015 Vermeer HG6000TX crawler horizontal grinder – CA$300,000 (US$233,370)
  • 2020 Kenworth T880 T/A sleeper heavy haul truck – CA$217,500 (US$169,193)
  • 2012 Link-Belt RTC-80110 110-ton 6x6x6 rough terrain crane – CA$210,000 (US$163,359)
  • 2007 Western Star 4900SA T/A sleeper tow truck – CA$180,000 (US$140,022)

2021 Ontario Marketplace-E sales highlights:

  • 2018 John Deere 870G LC hydraulic excavator – CA$850,000 (US$668,000) – sold February 2021
  • 2013 Peterson Pacific 5710C horizontal grinder – CA$640,000 (US$508,000) – sold March 2021
  • 2013 Soilmec SC90HD crawler crane – CA$440,000 (US$343,000) – sold November 2021
  • 2013 Kobelco CK110G crawler crane – CA$340,000 (US$281,000) – sold May 2021
  • 2019 Western Star 4900SB vacuum truck – CA$330,000 (US$260,000) – sold September 2021

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, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America; Mascus, a leading European online equipment listing service; Ritchie Bros. Private Treaty, offering privately negotiated sales; and sector-specific solutions GovPlanet, TruckPlanet, and Kruse Energy. The Company's suite of solutions also includes Ritchie Bros. Asset Solutions and Rouse Services LLC, which together provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; plus equipment financing and leasing through Ritchie Bros. FinancialServices. 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.