Ritchie Bros. finishes record-breaking year in Ontario with CA$44+ million Toronto auction
Ritchie Bros. achieved a record-breaking CA$44+ million gross transaction value at its December auction in Toronto, attracting over 8,500 online bidders from 65 countries. The auction featured more than 3,400 items, with 84% purchased by Canadian buyers. The company noted a 108% increase in watchlisted items year-over-year and a 13% rise in online equipment pageviews. Additionally, Ritchie Bros. has established a new satellite yard in Thunder Bay, enhancing its visibility and service in Ontario. The company plans future events including a Timed Auction on February 8, 2022.
- Achieved CA$44+ million gross transaction value in December auction, setting a new record.
- Attracted over 8,500 online bidders from 65 countries, indicating strong demand.
- Introduced a new satellite yard in Thunder Bay, expanding service capabilities.
- Noted 108% increase in watchlisted items and 13% rise in online equipment pageviews year-over-year.
- None.
TORONTO, Dec. 16, 2021 /PRNewswire/ - 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
"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."
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"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. 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.
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