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Why auctions are the first choice for thousands of equipment sellers

by Ritchie Bros January 22, 2016 Advice for sellers Comments

Dismiss any preconceived ideas and rethink unreserved auctions.

Wheel loaders being sold at a Ritchie Bros. auction in Orlando, Florida

Selecting a selling method for your valuable equipment assets is not an easy decision. All methods – from private sale to online auctions – come with their own pros and cons. Successful sellers make their decision based on which solution has the best track record for delivering the benefits they are looking for—whether that’s speed, certainty or control.

For tens of thousands of people, Ritchie Bros. unreserved auctions are the first choice when it’s time to sell, offering the least amount of risk for the most reward. Here’s why:

Certainty of sale

Every item is sold on auction day. We’ll tell you the exact date your items will be sold and you can budget accordingly. We replace the “if” and “when” questions on any equipment seller’s mind with a concrete sale date and payment date they can confidently add to their calendar.

“Making the decision to use Ritchie Bros. was easy. They offered good terms, they could handle all the equipment, and they could sell it all in one day. We could close our books and move on.” Denis Larabie (Canada)

Farm tractors being sold at a Ritchie Bros. auction

Huge selection, crowds of buyers

2016 was another record-breaking year for Ritchie Bros. We sold $4.25 billion of equipment from 47,000+ consignors, attracting more than half a million bidders to our auctions!

Every piece of equipment entrusted to us to sell is a vote of confidence in our abilities and one more reason for buyers to check out our huge auction inventory. No other heavy equipment auction inventory comes close to the thousands of items that cross our auction theatre ramps.

A buyer places a bid on equipment at a Ritchie Bros. auction

Serious local and global buyers from many industries

Unlike private sale and most online auctions, our reach is global and across many industries. We market and sell locally and globally. In fact, buyers at Ritchie Bros. auctions represented 155 countries in 2015.

Experiencing a soft local market or industry? Let us identify and attract buyers from stronger markets that will result in better returns for you.

“These days you can move equipment all over the world. Ritchie Bros. understands that; they don’t just look at the local market. They get more bidders from more places – and the more competition there is, the better the prices.” Bob Davis (Canada)

Serious sellers trust us

As part of a complete dispersal for Energy Transportation headquartered in Casper, WY, Ritchie Bros. sold more than 2,290 items, including close to 40 cranes and a large selection of heavy-spec trucks and trailers. The record-breaking auction resulted in US$54 million of equipment sold in one day, the largest single-owner auction in Ritchie Bros. history.

Discover how other sellers have benefitted from our unreserved auctions. Read What our customers say about selling with Ritchie Bros.

Rewards that outweigh the risk

Dismiss any preconceived ideas of auctions as risky business. Ritchie Bros. unreserved auctions are anything but, and our 50+ year track record, thousands upon thousands of satisfied customers, and massive inventory are proof that the rewards outweigh the risk by a long shot.

Thinking about selling heavy equipment or transport trucks? Learn more about selling equipment with Ritchie Bros., or get in touch with one of our representatives near you.

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