Strong pricing drives record Q1 Toronto auction for Ritchie Bros. Auctioneers
TORONTO--Last week Ritchie Bros. had its strongest start to the year ever in Toronto, selling more than 2,850 equipment items and trucks for CA$37+ million (US$28+ million)—surpassing the Toronto site's previous Q1 sales record by 57 percent.
The two-day auction (March 6 – 7, 2018) attracted a site record 5,250+ registered bidders from 58 countries, including 3,100+ online bidders. Approximately 88 percent of the equipment in the auction was sold to Canadian buyers, with buyers from Ontario purchasing 72 percent, while international buyers from countries such as the United States, Australia, and Italy purchased 12 percent of the equipment. Approximately 54 percent of the equipment in the auction was sold to online buyers.
"The strong pricing trend we have seen early this year continued last week in Toronto," said Anna Sgro, Senior Vice President, Ritchie Bros. "We had a large selection of transportation and construction assets in this sale and saw strong pricing through most equipment categories in both sectors. We registered a record number of bidders, surpassing our previous attendance record by 14 percent, resulting in a lot of competition and great results for our sellers."
Equipment highlights in the auction included 265+ truck tractors, 175+ aerial work platforms, 110+ compactors, 90+ dump trucks, 75+ excavators, 60 skid steers, 35+ loader backhoes, and 25+ dozers.
Specific sales highlights:
>Two Grove TMS900E 90-ton 8x4x4 hydraulic truck cranes sold for a combined CA$495,000
>Two 2015 Komatsu D61EXI-23 crawler tractors sold for a combined CA$350,000
>A 2014 John Deere 470G LC hydraulic excavator sold for CA$340,000
>Two 2016 Kenworth T800 dump trucks sold for a combined CA$323,500
>Two 2013 Manitou MRT2150P 10,000lb 4x4x4 telescopic forklifts sold for a combined CA$250,000
>Two 2010 Caterpillar 730 6x6 articulated dump trucks sold for a combined CA$270,000
>A 2014 Komatsu PC490LC-10 hydraulic excavator sold for CA$235,000
>A 2015 Komatsu D65WX-17 crawler tractor sold for CA$210,000
>A 2017 Peterbilt 579 sleeper truck tractor sold for CA$111,000
Auction quick facts: Toronto, ON (March 2018)
Gross transactional value – CA$37+ million (US$28+ million) *Q1 Toronto site record
Amount sold to online bidders – CA$20+ million (US$15+ million) *Q1 Toronto site record
Total registered bidders (onsite and online) – 5,250+ *New Toronto site record
Online registered bidders – 3,100+ *New Toronto site record
Number of lots sold – 2,850+ *Q1 Toronto site record
Number of sellers – 500+ *Q1 Toronto site record
Ritchie Bros. has dozens of upcoming live auctions and IronPlanet weekly online events in the coming months. Visit rbauction.com and IronPlanet.com for a complete list of available equipment.
Established in 1958, Ritchie Bros. 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 multitude 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 its exclusive IronClad Assurance® equipment condition certification; Marketplacee, an online 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 also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers, and Cat® auctions, plus equipment financing and leasing through Ritchie Bros.