Ms. Anna Sgro reports

STRONG PRICING DRIVES RECORD Q1 TORONTO AUCTION FOR RITCHIE BROS. AUCTIONEERS

Last week Ritchie Bros. Auctioneers Inc. had its strongest start to the year ever in Toronto, selling more than 2,850 equipment items and trucks for over $37-million ($28-million (U.S.)), surpassing the Toronto site's previous Q1 sales record by 57 per cent.

The two-day auction (March 6 to March 7, 2018) attracted a site record over 5,250 registered bidders from 58 countries, including over 3,100 on-line bidders. Approximately 88 per cent of the equipment in the auction was sold to Canadian buyers, with buyers from Ontario purchasing 72 per cent, while international buyers from countries such as the United States, Australia and Italy purchased 12 per cent of the equipment. Approximately 54 per cent of the equipment in the auction was sold to on-line buyers.

"The strong pricing trend we have seen early this year continued last week in Toronto," said Anna Sgro, senior vice-president, Ritchie Bros. "We had a large selection of transportation and construction assets in this sale and saw strong pricing through most equipment categories in both sectors. We registered a record number of bidders, surpassing our previous attendance record by 14 per cent, resulting in a lot of competition and great results for our sellers."

Equipment highlights in the auction included over 265 truck tractors, over 175 aerial work platforms, over 110 compactors, over 90 dump trucks, over 75 excavators, 60 skid steers, over 35 loader backhoes and over 25 dozers.

Specific sales highlights:

• Two Grove TMS900E 90-ton eight-by-four-by-four hydraulic truck cranes sold for a combined $495,000;
• Two 2015 Komatsu D61EXI-23 crawler tractors sold for a combined $350,000;
• A 2014 John Deere 470G LC hydraulic excavator sold for $340,000;
• Two 2016 Kenworth T800 dump trucks sold for a combined $323,500;
• Two 2013 Manitou MRT2150P 10,000-pound four-by-four-by-four telescopic forklifts sold for a combined $250,000;
• Two 2010 Caterpillar 730 six-by-six articulated dump trucks sold for a combined $270,000;
• A 2014 Komatsu PC490LC-10 hydraulic excavator sold for $235,000;
• A 2015 Komatsu D65WX-17 crawler tractor sold for $210,000;
• A 2017 Peterbilt 579 sleeper truck tractor sold for $111,000.

Auction quick facts: Toronto, Ont. (March, 2018):

• Gross transactional value -- over $37-million (over $28-million (U.S.)) (Q1 Toronto site record);
• Amount sold to on-line bidders -- over $20-million (over $15-million (U.S.)) (Q1 Toronto site record);
• Total registered bidders (on site and on-line) -- over 5,250 (new Toronto site record);
• On-line registered bidders -- over 3,100 (new Toronto site record);
• Number of lots sold -- over 2,850 (Q1 Toronto site record);
• Number of sellers -- over 500 (Q1 Toronto site record).

Ritchie Bros. has dozens of upcoming live auctions and IronPlanet weekly on-line events in the coming months. Visit the company's website for a complete list of available equipment.

About Ritchie Bros. Auctioneers Inc.

Established in 1958, Ritchie Bros. is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets.