Home Machinery End your year strong with Ritchie Bros. summer sales

End your year strong with Ritchie Bros. summer sales

Ritchie Bros. Regional Sales Managers Dale Spedding and Cody Watson are encouraging sellers to bring their assets to market.
“With 2022 just around the corner, you might be thinking of generating cash for your business, adjusting your equipment fleet, or selling your surplus equipment while demand is high. Now is the time to sell, we have multiple end-of-year auctions scheduled including the Australian National Unreserved Auction on October 20-21, the National IronPlanet End-of-Year Auction on 17 November, and the Australian National Unreserved End-of-Year Auction on December 1-2.

Mr. Spedding and Mr. Watson say there is several reasons to sell used equipment before year’s end.

Take advantage of record-high market demand
“Our online auctions in 2021 shattered records for bidder participation, as well as provided consistently strong buyer demand to push up selling prices. Our buyers have delivered a message to us: they want the safety and convenience of online bidding. We’re seeing surging online demand with website traffic up 71%, and bidder registration up 46%.

“Market demand is at a record-high. Ritchie Bros. are breaking records across the board for all industries including transport, construction, agriculture and mining.

At Ritchie Bros., our bidder registration numbers are reaching record-breaking heights, and our database of buyers is second-to-none,” says Mr. Spedding.

Buyers have moved online; auction bidder participation is surging

“Due to COVID-19 we shifted entirely to holding our auctions online. Despite the pandemic, online bidder attendance and selling prices are strong. In fact, we’re seeing more bidders at our auctions than ever before,” says Mr. Watson.

In 2021, Ritchie Bros. delivered record-breaking national auction results, with online buyer participation reaching new heights. The industry leader has recently taken all its auctions online and adapted to ensure customers are confident when bidding online offering inspection reports, photos, and service records.

Quick access to cash before the holidays
“Most businesses shut down over the Christmas period here in Australia, so selling equipment before the new year means a cash injection that can be pretty handy. Selling unwanted assets allows businesses to plan for the new year. Some businesses sell to upgrade their fleet as work slows down over the Christmas period, for example.

“We have two unreserved auctions before the end of the year. The unreserved platform has been proving itself even through 2021, due to the current market, customers are fighting for gear. Our unreserved auctions in October and December are a great opportunity to sell for the best possible price.

“Even if sellers miss our end-of-year auctions. The beauty of our 24/7 platform Marketplace-E is that we it’s always-on where we have real-time consignments and sales. Customers will be able to buy and sell right through the holiday period,” says Mr. Spedding.

Don’t let your equipment get another year older
“If you need to sell your equipment, now is the time,” says Mr. Watson. “Once the new year ticks over, that’s another year older your machinery becomes.

“Equipment is expensive to own, and when it sits idle, it doesn’t contribute to your bottom line. Sell your surplus equipment that isn’t generating revenue and put it into a marketplace where people are fighting over it instead of letting it depreciate.

“If your equipment may not be required at all or may be underutilised once the work is done. Rather than tie up money, sell your surplus equipment and invest the proceeds in other areas of the business or on equipment needed for upcoming projects in 2022.
“Don’t miss out on multiple opportunities to sell in October, November and December. Whether in our national end-of-year auctions or in our everyday online marketplace, get the results you need from Ritchie Bros.,” says Mr. Watson.

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company’s selling channels include: Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance(R) equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company’s suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system.

For more information visit rbauction.com



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