Ritchie Bros. Toronto Auction Increases Q1 Sales by 57%



Ritchie Bros. sold more than 2,850 equipment items and trucks for C$37 million ($28 million) in last week’s Toronto auction, surpassing the site’s previous Q1 sales record by 57%.

The two-day auction attracted a site record 5,250 registered bidders from 58 countries, including 3,100 online bidders. Approximately 88% of the equipment in the auction was sold to Canadian buyers, with buyers from Ontario purchasing 72%, while international buyers from countries such as the U.S., Australia and Italy purchased 12% of the equipment. Approximately 54% 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 for 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%, 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.


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com