Ritchie Bros. Sets New Toronto Auction Record Selling More Than $46 million

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Ritchie Bros. set a new record in Toronto, Ontario, selling more than 3,750 construction equipment items and trucks over two days for more than $46 million.

The Toronto auction, held May 7 and 8, attracted more than 5,800 people from 53 countries, including more than 4,100 online bidders. Online sales equal about $25 million.

About 88 per cent of the equipment in the auction was sold to Canadian buyers, with buyers from Ontario making 71 per cent of purchases, while international buyers from countries such as Pakistan, Singapore and the United Kingdom purchased 12 per cent of the equipment.

Online bidders purchased about 55 per cent of the equipment sold.

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“This was the highest GTV (gross transactional value) we’ve ever achieved in Eastern Canada,” said Anna Sgro, senior vice president of Canada east sales for 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.”

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Toronto auction sales highlights included:

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

More than 800 owners sold equipment during the Toronto auction, including the Newmarket, Ontario-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.” 

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