Business
Ritchie Bros. sells CA$33+ million of farmland and equipment in its largest agricultural auction ever
Ritchie Bros. sells CA$33+ million of farmland and equipment in its largest agricultural ...
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[{"type":"text","content":"\n \n \n \n Ritchie Bros. sells CA$33+ million of farmland and equipment in its largest agricultural auction ever\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORQUAY, SK\n \n ,\n \n Feb. 1, 2022\n \n /CNW/ - Last week\n \n Ritchie Bros\n \n . conducted its largest agricultural auction ever in\n \n Torquay, SK\n \n , selling CA$33+ million of farmland, real estate, and equipment for Hanson Farms on\n \n January 24\n \n – 25, 2022. The two-day online auction featured 59 parcels totaling 9,600+ acres of farmland, including a home quarter with a 500,000-bushel capacity grain storage system that sold for CA$1.33 million.\n \n \n \"The results were much higher than we anticipated,\" said\n \n Kirby Hanson\n \n , who co-owns Hanson Farms with his wife (Laura), father (\n \n Lorne\n \n ), and mother (Charlene). \"We didn't think the land prices would hit that high, but interest from farmers the week of the sale was unreal. We were pretty stressed the night before the auction, but everything went high.\n \n Ritchie Bros\n \n . runs a top-notch operation—from the day we signed, to setting up, to sale day, they are the best auction company we have ever dealt with.\"\n \n \n The\n \n January 2022\n \n Torquay auction attracted bidders from 30 countries, but more than 97% of the assets were sold to Canadians, including 89% to buyers from\n \n Saskatchewan\n \n .\n \n \n \"This was the largest agricultural auction in our history, with record prices for both farmland and equipment,\" said\n \n Jordan Clarke\n \n , Sales Director,\n \n Ritchie Bros\n \n . \"Farmland prices averaged\n \n $416,000\n \n per quarter, which is a new high-water mark for values in the area, while many of the equipment items sold for more than what the consignor acquired them for.\"\n \n \n Mr. Clarke continued, \"Everything was sold with our Timed Auction software, which continues to drive unprecedented demand and strong returns for our agricultural customers. Customers can bid from the comfort of their home or office, and we can sell farmland a...