Ritchie Bros goes full digital
Massive online auction featuring tractors, trucks and earthmoving equipment to take place on March 30 and 31The stage two lockdown measures in Australia in an attempt to curb the spread of COVID-19 have put a stop to physical auctions but one of Australia’s leading auction houses, Ritchie Bros., have decided to take things into its own hands by moving its auctions completely online.
The company has announced an IronPlanet Super auction, scheduled to take place on March 30 and 31, 2020, that will feature more than 2350 construction and transport items for sale. Some of the items that will be up for bids include trucks, tractors, bulldozers and excavators.
While the auction house has made online bidding available before, it has never conducted an auction completely online.
Ritchie Bros. Regional Sales Director, Finlay Massey, said the shift to an online super auction is an example of the organisation’s strategic response to the current coronavirus crisis.
“It’s a challenging environment right now but our teams globally are adapting to suit their unique markets so buyers can still obtain the gear they need to help keep vital projects moving forward,” he said.
Massey acknowledged uncertain economic conditions but said equipment and machinery is still a much-needed commodity.
“At Ritchie Bros. we’re already seeing businesses take advantage of the federal government’s $150,000 instant asset write off, as demand for gear remains strong across construction, transport, and the agricultural sector as farmers look to diversify their business operations.”
While a move to online is a big change for bidders accustomed to the wide-open lots of a live auction, Ritchie Bros. said it is investing in the online experience so it will still allow customers to get a true sense of the product they’re browsing and buying.
Day one of the IronPlanet Super Auction on March 30 will be solely on construction items while day two will be on transport and agriculture stock. Bidding is open now and will close over the two days depending on the items you are bidding on.
All interested bidders have to do is register for an IronPlanet account at ironplanet.com.au and start bidding.
Ritchie Bros.’ Brisbane and Geelong yards are open for inspections every day until March 31.
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