Toronto auction attracts 35% more bidders; 66% more item watchlists.
The strong pricing and unprecedented demand that we’ve seen in auctions in the United States this year have translated north of the border. Last week Ritchie Bros. sold more than 4,300 equipment items and trucks in Toronto for CA$49+ million (US$39+ million) in gross transaction value.
Despite tight market supply, we sold a record amount of equipment last week, including 320+ truck tractors, 210+ aerial work platforms, 120 compactors, 95+ skid steers, 55+ excavators, and more.
“Following excellent recent results in Edmonton, Orlando, and our Rocky Mountain Regional Auction, we continue to achieve strong pricing for consignors, regardless of auction type or location,” said Ryan Pottruff, Regional Sales Manager, Ritchie Bros.
“Last week’s record-breaking Toronto auction saw particularly strong price realization for transportation equipment, with Class 8, dump trucks, and heavy haul trucks achieving incredible prices. Leading up to the sale we saw a ton of buzz online, with pageviews, watchlists, and PriorityBids all up year over year. We encourage interested sellers to contact us today to take advantage of the strong market”.
Record online demand drives big success for sellers
Last week’s Toronto attracted record online demand. The sale saw a 48% percent increase in pageviews (1.1+ million), a 66% increase in watchlist adds (66,000+); and 11,000+ PriorityBids. Close to 10,000 bidders from 67 countries registered for the three-day Toronto auction.
“With Ritchie Bros. your equipment gets the largest exposure and you get fantastic customer service, prompt communication, and one-stop shopping,” said Kevin Meisner, General Manager of Meisner Construction Inc., which sold 40 items in the Toronto sale as part of a fleet realignment. “Don’t waste your time with anyone else. The returns we received this week with the Toronto auction were phenomenal!”
Specific sales highlights included a 2018 John Deere 380G excavator that sold for CA$315,000; a 2017 Mack GU813 granite dump truck that sold for CA$175,000; and a 2019 Kenworth T800 T/A sleeper heavy haul truck that sold for CA$143,500. All items in were sold unreserved and all bidding was conducted 100% online
AUCTION QUICK FACTS: TORONTO, ON (MARCH 2021)
- Gross Transaction Value (GTV): CA$49+ million (US$39+ million)*new site record
- Total Registered Bidders: 10,000 *new site record
- Total Number of Lots: 4,300+ *new site record
- Total Number of Consignors: 700+
Ritchie Bros. will sell more than 70,000 equipment items and trucks in its upcoming auctions, including a two-day Chilliwack, BC auction on March 17 – 18; Regina, SK on March 23 – 24; and a Montreal, QC auction on March 24 – 26. The company also has weekly featured online auctions at IronPlanet.com and a daily reserved option with Marketplace-E.
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