Ritchie Brothers Auctioneers held a huge one-day auction offering everything from transport trucks to backhoes. This is the first auction the company has put on in Thunder Bay since 2002. Event organizers estimate that more than 700 people will bid on the 750 items. Ritchie Brothers president Randy Wall says they chose to hold the auction in Thunder Bay because of the unique marketplace.

”This is a forest-based economy. These are forest-based machines, predominantly, that we’re selling here today. We thought it would be best to sell it right here, where the name of the contractor and the reputation also means something.”

The items sold at auction were previously owned by John Buchanan and Sons Construction company and sales from the auction items are expected to fetch between $5 and $7 million.

Posted: 06|29|07 at 8:42 am. Filed under: Auction News.