There’s no doubt about it – the internet, along with the exponential adoption of mobile devices, has changed the way we live, work, and do business. And that includes the auction business. At Ritchie Bros., equipment inventory, online bidding, equipment inspection, shipping services, financing and more are all available at your fingertips wherever you’ve got an internet connection.
Want to check out equipment located in Germany? A few clicks is all it takes. Want to bid on equipment at our auction in Dubai from a job site in the U.S.? Limber up your mouse finger and you’re ready to go. Online bidding brings the world to every one of our auctions. It makes it more convenient for buyers to get the gear they need, and has increased the number of bidders participating in an auction – which translates to better returns for sellers.
Big auctions, big excitement.
But there’s still nothing like our live auctions to draw the crowds. Even with the numbers of online bidders increasing, most people still love to see the heavy equipment and trucks in person, kick the tires, and take part in something that’s part business transaction, and part social event. We don’t refer to an auction as “the show” for nothing. The roar of the engines, the smell of diesel, the excitement created by a crowd competing for equipment, friendly faces – you just can’t replicate that atmosphere online.
One location, lots of advantages.
For sellers, sending gear to one of our 44 auction sites around the world takes a big load (pun intended) off their minds. We can help you decide which site makes the most sense – with most typically hosting four or five auctions each year, there’s plenty of opportunity and flexibility to sell at the right time. We can even help you get competitively-priced transportation for your equipment.
Once equipment is in our yard, we can perform any refurbishing if we think it’ll help you get better returns (read our blog article about our refurb services). We also store your equipment for free in our secure yard, saving you money and space, and we handle all buyer inquiries and inspections, saving you time and hassle. And of course, when it comes to auction day, driving equipment in front of the crowd really gets the adrenaline flowing – not to mention the bids.
Online bidding—a great addition to the live auction
We introduced live online bidding in 2002, and now sell more equipment to online bidders than any other company in the world. But if you think online bidding is going to send the live auction into extinction, think again. Just look at the crowds our auctions attract – whether it’s our massive six-day auction in Orlando, Florida or a small on-the farm auction in the Canadian prairies. There are 1,760 registered on-site and online bidders at an average Ritchie Bros. auction. And for every person bidding online, there’s at least one bidding in person at the site.
The best of both worlds.
Despite the convenience of online bidding, most people still prefer to bid in person at a live auction, especially on high value equipment. End-users are also more likely to bid in person: they aren’t seeking deals or equipment they can resell, they’re buying specific pieces of equipment they can put straight to work. They want to see what they’re buying, and they don’t want to go home empty-handed.
But what about the online bidders – aren’t they still a significant part of the auction experience? Absolutely. If they haven’t been able to test and inspect the equipment in person beforehand, they bid confidently knowing they’re competing against people who have. And the competition between bidders online and at the auction site means just one thing: better returns for sellers.
If you’ve never experienced a Ritchie Bros. auction in person, we’d love to see you at one – and it usually only takes one to turn an equipment junkie into an auction junkie. Check our full auction calendar for upcoming dates near you, or contact us to talk to your local Ritchie Bros. representative about selling.