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Ritchie Bros. Sells $78MM+ of Equipment in Largest-ever Auctions in Ontario, Manitoba

May 16, 2022, 07:06 AM
Filed Under: Auction News

Ritchie Bros. conducted its largest-ever auctions in Ontario and Manitoba, selling more than $54 million of equipment and trucks in Toronto and over $24 million of assets in Winnipeg. The multi-day online auctions attracted a combined 11,900 registered bidders to compete for more than 6,400 items between the two events.

"We bulldozed past our previous Toronto sales record, set last May, with gross transaction value up approximately 35 percent year over year," said Ryan Pottruff, Regional Sales Manager, Ritchie Bros. "There was a lot of demand from consignors to be a part of this event, so we made full use of our Thunder Bay satellite yard and an additional offsite location in the Toronto area to ensure there was enough room for everyone, and it paid off. Consignors were very pleased with the strong pricing we achieved during all three days of the auction."

Approximately 91 percent of the equipment in the Toronto auction was sold to Canadians, including 65 percent sold to Ontarians. The remaining 9 percent was sold to international buyers from as far away as Ecuador, Egypt and the Netherlands.

One province over, in Manitoba, Ritchie Bros. conducted a one-owner auction for Borland Construction Inc., one of the oldest and largest heavy construction companies in the region. The online auction attracted bidders from 28 countries, but Canadians purchased 94 percent of the assets, including 70 percent sold to Manitobans.

"Borland runs a very diverse operation and has an impeccable maintenance program, resulting in a ton of interest for their late-model equipment," said Sam Webber, Territory Manager, Ritchie Bros.

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