Ritchie Bros. Sells $28 Million of Equipment at Ontario Auction | Construction News

Two weeks after its largest Canadian auction ever in Edmonton, Alberta, Ritchie Bros. was breaking records again with its largest Ontario auction ever.

On May 11-12, 2016, Ritchie Bros. sold more than 3,000 equipment items and trucks for CA$36+ million (US$28+ million) at its Toronto site.

The unreserved auction attracted 4,050+ bidders, in person at Ritchie Bros.' Toronto auction site (in Bolton) and online. About 89% of the equipment was sold to Canadian buyers. Buyers from the United States purchased 9.5%.

"The size of this Toronto auction reflects the trust our customers place in our unreserved auctions," said Anna Sgro, Senior Vice President, Ritchie Bros. "We helped hundreds of sellers reach competing buyers from every province and 44 other countries, both on-site and online—no one else delivers that kind of audience. Online buyers purchased more than CA$16 million of equipment, or 46 percent, which is a new Ritchie Bros. record in Ontario, showcasing the strength of our internet bidding platform."

Close to 600 owners sold equipment in the auction, including Technicore Underground and Alloa Excavating.

"I've been buying and selling with Ritchie Bros. for 30 years—I trust them," said Tony Dimillo, CEO of Technicore Underground, a Newmarket, ON-based tunnel contractor that was selling heavy haul trucks and live-bottom trailers. "The trucks and trailers we sold this week were specifically bought to move earth for the Eglinton Crosstown subway project. The project is complete so we brought them to Ritchie Bros. and I'm pleased with the results." 

"We are retiring from the apartment restoration business after 30 years and came to Ritchie Bros. to sell everything," said Tony Alloa, President of Caledon, ON-based Alloa Excavating. "I've bought before, but this is my first time selling with Ritchie Bros.—it was an emotional experience, but it went well. They are a truly ethical and professional company."