FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News


Ritchie Bros. Sells $34MM of Equipment at its Largest-Ever Toronto Auction

May 09, 2019, 07:15 AM
Filed Under: Auction News

Ritchie Bros. set a new record in Toronto, ON, selling 3,750 equipment items and trucks over two days for more than $34 million.

The May 7–8 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!"

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.