On January 24 – 25, 2022, we conducted our largest agricultural auction ever in Torquay, SK, selling CA$33+ million of farmland, real estate, and equipment for Hanson Farms. It was also our first farm auction ever held in January. 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.
“The results were much higher than we anticipated,” said Kirby Hanson, owner of Hanson Farms. “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. Ritchie Bros. 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.”
Farmland prices averaged $416,000 per quarter, a new high for Southeastern Saskatchewan
The January 2022 Torquay auction attracted 4,800+ bidders from 30 countries, but more than 97% of the assets were sold to Canadians, including 89% to buyers from Saskatchewan.
The auction featured a record 59 lots of real estate. “This was the largest agricultural auction in our history, with record prices for both farmland and equipment,” said Jordan Clarke, Sales Director, Ritchie Bros. “Farmland prices averaged $416,000 per quarter, which is a new high-water mark for values in area, while many of the equipment items sold for more than what the consignor acquired them for.”
Online auction technology gives real estate sellers a year-round option
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 and agricultural assets during the middle of winter in Saskatchewan, giving buyers a head start on seeding season.” Ritchie Bros.’ online technology, including our Timed Auctions platform, makes it possible to conduct auctions like this one 365 days a year, and from anywhere in the country.
And when Ritchie Bros. customers sell real estate, they can count on our Real Estate division’s expertise and decades of experience – along with our unparalleled marketing and ability to reach buyers across the country and around the world – to maximize their returns.
Ritchie Bros. has a lineup of agricultural farmland, real estate, and equipment selling in its upcoming online auctions and marketplaces. If you’re interested in selling real estate at this upcoming event, or at any of our auctions, contact us today and sell with confidence!