TORQUAY - The Hanson Family Farm auction brought in millions from the sale of farmland and equipment.
Ritchie Bros. company conducted what was its largest agricultural auction ever in Torquay, selling over C$33 million of farmland, real estate and equipment for Hanson Farms on Jan. 24-25.
The two-day online auction featured 59 parcels totaling over 9,600 acres of farmland, including a home quarter with a 500,000-bushel capacity grain storage system that sold for C$1.33 million.
"The results were much higher than we anticipated," said Kirby Hanson, who co-owns Hanson Farms with his wife (Laura), father (Lorne), 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. 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."
The January 2022 Torquay auction attracted bidders from 30 countries, but more than 97 per cent of the assets were sold to Canadians, including 89 per cent to buyers from Saskatchewan.
"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 the area, while many of the equipment items sold for more than what the consignor acquired them for."
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."
Equipment highlights from Torquay were:
2018 Seedmaster 80-ft air drill - C$440,000;
2016 John Deere 9260RX track tractor - C$425,000;
2016 John Deere 9570RX track tractor - CA$400,000;
2018 John Deere S790 combine - C$325,000; and
2015 John Deere R4045 120-ft high clearance sprayer - C$260,000.
For more agriculture stories from Southeast Saskatchewan, check out the On The Farm special publication.