Ritchie Bros. making temporary changes to its onsite auctions to increase online participation
Information is moving fast and so is Ritchie Bros. With concerns about large gatherings growing around the world due to the COVID-19 pandemic, many trade shows and events have been cancelled. Thanks to its industry-leading online bidding system and mobile application, Ritchie Bros. will continue to conduct regular onsite auctions, with temporary changes to the process and procedure of those events.
First and foremost, Ritchie Bros. will follow all local legislation on limiting onsite attendance to maintain the safety of all its customers and employees. Instead of bidding in person, the company is encouraging customers to participate online or via its mobile application. An auctioneer will still be used to conduct Ritchie Bros.’ onsite auctions, but all equipment and trucks will be sold virtually.
Auctions in Europe
Upcoming auctions in UK and Germany will be held entirely as Timed Auctions – an easy-to-use online bidding system with set opening and closing times for each item. When bidding closes on an item, it is sold to the highest bidder. The company has already seen increased participation and strong prices at the online auction in France, which ended on March 18.
Maltby, UK – all items will be sold via Timed Auction between 20 – 25 March
Meppen, Germany – all items will be sold via Timed Auction between 19 – 27 March (site is closed for the public)
Caorso, Italy – auction is postponed to 28 April
Closing times may vary per item and are available on rbauction.com.
“The safety of our customers and employees is our first priority,” said Ann Fandozzi, Chief Executive Officer, Ritchie Bros. “The demand for equipment right now is high—as witnessed by the strong pricing we’ve seen in all our recent events. With our online bidding technology, we can keep the market moving while simultaneously keeping people safe.”
Today upwards of 78% of winning bids in Ritchie Bros. live auctions are made online. Additionally, due to new efforts to drive online demand, Ritchie Bros. has seen visits to rbauction.com and web account creations increase by 15% and 19% respectively. Ritchie Bros. mobile application users have also risen drastically, up 90% year over year.
Ms. Fandozzi continued, “If you do not have an online bidding account, we encourage you to set one up—it’s easy and we have a customer service team available to handle any questions you may have.”
For a complete list of upcoming Ritchie Bros. auctions, visit rbauction.com/auctions.
