Two-day auction attracts 5,800+ people from 53 countries; approx. 55% of equipment sold online
Ritchie Bros. set a new record in Toronto, ON this week, selling 3,750+ equipment items and trucks over two days for CA$46+ million (US$34+ million).
The May 7 – 8, 2019 auction attracted 5,800+ people from 53 countries, including 4,100+ online bidders. Approximately 88 percent of the equipment in the auction was sold to Canadian buyers, with buyers from Ontario purchasing 71 percent, while international buyers from countries such as Pakistan, Singapore, and the United Kingdom purchased 12 percent of the equipment. Online bidders purchased approximately 55 percent of the equipment.
"This was the highest GTV (gross transactional value) we've ever achieved in Eastern Canada," said Anna Sgro, SVP, Canada East Sales, 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. On top of this week's live onsite event, we also recently sold a 2008 Grove GMK7450 550-ton all-terrain crane located in Toronto through our online Marketplace-E sales channel for $1.2 million!"
More than 800 owners sold equipment in the Toronto auction, including the Newmarket, ON-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."
Toronto sales highlights included:
Auction Quick Facts: Toronto, ON (May 2019)
Ritchie Bros. currently has more than 40,000 equipment items, trucks, and other assets listed for sale across all its auctions and marketplaces, including live events in Montreal, QC on May 22 – 23; Truro, NS on June 11; and Corner Brook, NL on June 27. For a complete list of upcoming auctions and equipment available, visit rbauction.com and ironplanet.com.