Ritchie Bros. sets Ontario auction record

Ritchie Bros. auctioneers sold more than 4,200 items in Toronto last week, amounting to more than £53 million in transactions. It was the company’s largest-ever auction in the province.

Ritchie Bros.’ Toronto auction attracted more than 9,200 online bidders. (Photo: Ritchie Bros.)

“Current market conditions, and our ability to drive demand, have resulted in buyers paying a premium for equipment and trucks right now, especially hydraulic excavators, wheel loaders, truck tractors, reefer trailers, and dry vans,” said John Glenn, regional sales manager. More than 9,200 online bidders from 67 countries registered for the May 11 – 13 event.

About 89% of the assets were sold to Canadians, with 65% going to Ontario buyers.

Other customers secured deals from as far afield as Australia, Ecuador, Poland, and the Philippines.

Online views of the equipment also occurred at a breakneck pace, up 78% over the May 2020 auction in Toronto.