Ritchie Bros. brings big returns for farm equipment, farmland and real estate this spring
45 agricultural auctions in March and April attracted more than 101,000 bidders from around the world
SASKATOON, Sask., May 10, 2022 /CNW/ – Every spring, Ritchie Bros.. helps dozens of farmers from Western Canada retire and sell their equipment, farmland and real estate to interested buyers around the world. This year, the company held 45 agricultural auctions in March and April with its Timed Auction technology, achieving outstanding results for shippers.
“By attracting unprecedented demand, we have been able to achieve record yields for equipment and farmland in 2022,” said Jordan ClarkSales manager, Ritchie Bros.. “Earlier this year, we sold a 155 ± acre residential community to Torquay, Sask. for $1.33 million, setting a new record for the region. Two months later, we sold 6,100 ± acres of farmland and a residential neighborhood to The Pas, MB for a handset $12.9 million. Meanwhile, equipment also reached record prices this spring. »
More than 5,000 agricultural items were sold by Ritchie Bros.. Timed auctions this spring including over 70 combines, over 60 pneumatic drills, over 50 4×4 tractors and over 120 plots of farmland. All items were sold with no minimum bid or reserve price.
Spring Farm Sales Highlights:
- 2016 Case IH 620 QuadTrac Tractor – CA$550,000 (Moose Jaw, Saskatchewan on April 7) *The most expensive Case IH QuadTrac in company history!
- 2016 John Deere 9570RX Tractor – CA$520,000 (Vauxhall, AB. on March, 31st)
- 2017 John Deere 9260RX Tractor – CA$455,000 (Hudson’s Bay, Sask. on April 14)
- 2017 John Deere 9570R 4WD Tractor – CA$425,000 (Hudson’s Bay, Sask. on April 14)
- 2017 John Deere R4045 120ft High Clearance Sprayer – CA$410,000 (Borden, Sask. on April 8)
- 2014 Bourgault 3320PHD QDA 76ft Pneumatic Drill Rig – CA$405,000 (Hudson’s Bay, Sask. on April 14)
- 2017 Versatile 550DT Track Tractor – CA$405,000 (The Pas, MB on March 16)
- 2018 John Deere S780 Combine – CA$400,000 (Swift Current, Sask. on March 24)
- 2017 Case IH 580 QuadTrac Tractor – CA$395,000 (Hudson’s Bay, Sask. on April 14)
- 2016 Bourgault 3320XTC 66ft Pneumatic Drill Rig – CA$395,000 (Vauxhall, AB. on March, 31st)
- “From our first meetings, we knew that we had made the right decision to sell with Ritchie Bros..,” mentioned Frank Marlowwhose family sold thousands of acres of farmland in The Pas, MB. “The entire process from auction preparation to sale day was handled professionally. They have gone to great lengths to advertise our farm and equipment. We encourage anyone to utilize Ritchie Bros..—with their global reach, knowledge of the agriculture industry, and excellent customer service, we highly recommend using their auction services.”
- “Book your sale with Ritchie Bros..—their reach is exceptional and their professionalism will always put you at ease,” said Robin Christo of Cristo Farms Ltd., which has sold over 70 items to a April 12 auction in Assiniboia, Sask. on April 12. “The team that was here was very professional – they all knew their job and did it perfectly.”
- “Hats off to all Ritchie Bros.. crew!” said Gary Wencwho has sold over 240 items on April 8 for Wenc farms. “Thank you from the bottom of my heart. The team explained every detail of the auction process and always answered all of our questions promptly.”
On Ritchie Bros..
Created in 1958, Ritchie Bros.. (NYSE and TSX: RBA) is a global asset management and disposition company, providing clients with end-to-end solutions for the purchase and sale of heavy equipment, trucks and other assets second hand. Operating in a number of sectors, including construction, transport, agriculture, energy, mining and forestry, the company’s sales channels include: Ritchie Bros.. Auctioneers, the world’s largest industry auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace offering weekly auctions and providing exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie lista self-service registration service for North America; Mascus, a European leader in online equipment referencing; Ritchie Bros.. Over-the-counter treaty, offering negotiated over-the-counter sales; and industry solutions GovPlanet, TruckPlanet and Kruse Energy. The Company’s solution suite also includes Ritchie Bros.. Asset Solutions and Rouse Services LLC, which together provide a comprehensive end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customer lifecycle management of equipment and integrates parts procurement from OEMs and dealers; as well as the financing and leasing of equipment by Ritchie Bros.. Financial services. For more information on Ritchie Bros.., visit RitchieBros.com.
Photos and video for inclusion in media reports are available at rbauction.com/media.
THE SOURCE Ritchie Bros..
For further information: Please contact: Ian Malinski, Media Relations Manager, +1.778.331.5432, [email protected]; For investor inquiries, please contact: Sameer Rathod, Vice President, Investor Relations & Market Intelligence, +1.510.381.7584, [email protected]