In order to be successful at selling, you need to be where the buyers are. And it seems as if the buyers are located at Ritchie Bros. Last year, Ritchie Bros. registered 463,500+ bidders at 239+ industrial auctions around the world.
With those kind of numbers, why wait for your local economy to improve or spend your resources trying to attract a serious buyer? In their own words, our customers explain how Ritchie Bros. helps you sell equipment faster and for better results by reaching buyers around the world.
Generates worldwide demand
After years of expanding their farm to over 2,100 acres and 3,000 head of cattle, the Cooke brothers were ready to retire from farming. They sold parcels of their land to adjoining farms but couldn’t decide on the best selling method for their farm equipment. Since little demand for their large equipment existed in their geographical area, selling through local dealers was not an option.
| || "It was clear that Ritchie Bros. was the only auction company that could manage the sale. Some of the equipment is large and not suitable for local farms, so we needed a company that could reach buyers from afar. Ritchie Bros. has the expertise to handle every aspect of the sale – from the advertising to the auction itself – and they get you broad exposure with their advertising."— Bob Cooke (Canada) |
Brings serious buyers to the table
Stephen O’Duggan had worked the numbers and knew that his fleet of equipment and trucks was worth more individually than he had been offered for his family’s crane and heavy haulage business as a whole. Without serious buyers, the business started by Stephen’s father risked closing with debt on the books. After talking to dealers and other auction companies, Stephen contracted Ritchie Bros. to conduct a complete dispersal and “bring the buyers to the table”, or more specifically hundreds of on-site and online bidders from 12 countries, including 40 US states.
| || "We had a 100-ton heavy haul tractor that a truck dealer wanted to give me $15,000 for; it sold for more than $120,000 at the auction. That's why I'm such a big believer in Ritchie Bros.: they brought the people to the auctions who were willing to pay what I knew the equipment was worth."— Stephen O’Duggan (USA) |
Attracts more buyers for better results
Dan McGlade attributes the success of his crane and heavy spec truck and trailer dispersal through Ritchie Bros. to the number of registered and online bidders. In the end, the auction for his company Energy Transportation resulted in a record-breaking US$54 million of equipment sold in one day.
| || "Bidder turnout was even bigger than we expected, which resulted in strong equipment values in the auction. Ritchie Bros. is the only company that could have put this sale together. Their marketing efforts alone were outstanding. They did everything possible to make sure people were aware of the auction and the results today are evident."— Dan McGlade (USA) |
Safeguards against soft local market conditions
Seeing the local market for used equipment getting tougher, Doug Heritage and Kevin Miller of Miller Farm Equipment took a harder look at their disposal options. They knew they needed to reach buyers from other regions. Doug and Kevin turned to Ritchie Bros. auctions as a method for inventory management, regardless of local market conditions.
| || "When the market was good we could just park a machine along the fence with a For Sale sign on it and people would come along and buy it. But when you have a lot of equipment, or the market isn’t as strong, it makes more sense to go through Ritchie Bros.: you just hand it over and they take care of everything...Ritchie Bros. auctions are one of the best avenues for selling surplus used equipment that the local market can’t absorb."— Doug Heritage (Canada) |
Reaches more industry segments
Doug Gordon wasn’t thinking about setting a new record when he decided to dispose of his entire equipment inventory. His primary concern was getting fair market value for hundreds of assets suitable for a variety of construction industry segments. Gordon needed help reaching a large amount of potential buyers from within and outside of his own industry segment, and Ritchie Bros. had the marketing expertise to help. To this day, Gordon’s auction is the largest single-owner Canadian auction conducted by Ritchie Bros.
| || "With Ritchie Bros. Auctioneers I can sell equipment packages from any segment of the industry, and the staff is fabulous, from the field sales representatives, to the auctioneers, to the site personnel, to the office staff. Ritchie Bros. auctions are one of the best economic indicators in the construction industry for determining the market value of your company."— Doug Gordon (Canada) |
Opens up new selling markets
At first, Steve Ledwell of Ledwell & Son, a successful manufacturer of heavy-duty transportation equipment, was wary of unreserved auctions. He tested the waters selling one piece of equipment and, before he knew it, he was regularly selling sets of used and unused transportation equipment at Ritchie Bros. auctions throughout North America and even Dubai. Selling through Ritchie Bros. unreserved auctions expanded the company’s customer base and helped establish Ledwell & Son’s presence in new selling markets.
| || "Fifty years is a long haul. You don't stay in business that long by accident: you have to give your customers a reason to come back. I don't sell everything through Ritchie Bros. auctions, but I do feel that I get excellent service and value, as well as access to new customers that I don't think I can get anywhere else. Thousands of people from all over the world are exposed to our equipment through the auctions." — Steve Ledwell (USA) |
Simplifies the fleet turnover process
Bad economic conditions first brought trucking company owner John Spadaro to Ritchie Bros. John needed to downsize fast and he looked to Ritchie Bros. to sell several million dollars of truck tractors and trailers. Over several years, John sold four multi-million dollar transportation packages through Ritchie Bros. as part of an efficient fleet management strategy.
| || "You go to other auctions and there are maybe one hundred people. You go to a Ritchie Bros. auction and there are two thousand. Now we can buy new equipment and run it for a few years, then sell it at a Ritchie Bros. auction. Unreserved is the only way to go. I know the gear's going to sell and the people who are there to buy know it's going to sell." — John Spadaro (Australia) |
Adds a competitive edge
At the end of a three-year contract, the Larabie brothers of Larabie Trucking had almost 150 trucks and trailers to sell. They contracted Ritchie Bros. to take care of the sale. The auction attracted 2,800 registered bidders from 29 countries and would change the way the brothers thought about buying and selling equipment.
| || "We realized that we could be more competitive in the future by using Ritchie Bros. auctions to buy and sell equipment. You can buy good quality used equipment at the auction when you start a project – whatever you need – and sell it back at the auction when the contract is over. It's clean and simple and you know the market sets the prices. Ritchie Bros. auctions are an excellent business tool." — Denis Larabie (Canada) |
If you have equipment or trucks to sell, contact us. As we have for Dan, Steve, Gordon and countless other customers, we can help you reach buyers from around the world and get fair market value when you sell equipment and trucks.