Ritchie Bros. Holds Record-Breaking Auction in Toronto

Ritchie Bros. today announced the company sold more than CA$45 million of equipment and trucks at its Toronto auction held on May 10-11, breaking the previous single-auction sales record of more than CA$39 million sold at the same location in September 2016.

More than 4,500 people from across Canada and 48 other countries registered to bid in the auction last week in Toronto. Approximately 64 percent of the equipment was sold to Ontario buyers and 16 percent was sold to international buyers from countries such as Poland, the United Kingdom and China. More than 2,700 bidders participated online and purchased 57 percent of the equipment.

“There is a lot of activity in Ontario right now, particularly in the construction sector, with considerable investment in infrastructure, which is expected to continue into 2018,” said Anna Sgro, Senior Vice President, Ritchie Bros. “Many contractors are realigning and upgrading their fleets for upcoming work, resulting in a large selection of low-hour, late-model construction equipment being sold in last week’s auction with strong pricing across the board. We also had a great lineup of transportation equipment that saw solid demand, with pricing on trucks and trailers exceeding expectations.”

Not only did the Toronto auction eclipse its previous sales record, it established a new sales record for Eastern Canada, breaking Montreal’s CA$44+ million mark set in 2015. The recent Toronto auction also set new local records in buyers, online sales, online bidders, and total number of consignors.

“The team has worked really hard to build strong relationships with customers and earn our customers’ confidence,” added Sgro. “We have an exceptional team who understands our customers’ needs and that’s why the yard is packed full at auction time.”

Consignments are now being accepted for Ritchie Bros. next auction in Toronto on July 12 – 13, 2017. To sell your equipment and/or trucks, please visit https://www.rbauction.com.

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