6 things you didn’t know about Marketplace-E  

Marketplace-E is one of our fasting growing channels for selling used equipment, trucks, and other commercial assets. It’s a 24/7 online platform that lets you buy and sell using Make Offer and Buy Now formats. For sellers, it provides the convenience of selling from your location, with more control of price, process, and timing. For buyers, it’s an outlet to acquire assets anytime you need – at a price that works for you, and with confidence thanks to certified inspection reports.  

Because Ritchie Bros. is primarily known for its world-class auctions, some might think Marketplace-E is an auction platform too. That’s a common misconception. Here are a few other things you might not know about Marketplace-E:

1. Not an auction platform

Marketplace-E often gets confused as an auction channel due to it being under the Ritchie Bros. solutions umbrella. Marketplace-E is an online channel where buyers and sellers can transact anytime (which Marketplace-E specialists will facilitate) using a Buy Now price or Make Offers format. There is no waiting for an upcoming auction date. Marketplace-E is on 24/7, so you can buy assets when you need it.

2. Different from a listing site

Ritchie Bros. offers a listing service, but Marketplace-E is very different because buyers and sellers are not engaging with each other directly. Marketplace-E specialists work with buyers and sellers to facilitate a sale. For example, these specialists will help find the right buyers and help you negotiate the sale with offers and counter offers. Marketplace-E specialist also leverage demand data sources – runner-up auction bidders, watch-listers, and financing pre-approvals – to bring the right buyers to the asset. 

3. Comes with price guidance

Sellers on Marketplace-E are not shooting blind in the dark. They get the benefit of industry-leading price guidance to optimize their asking price. This is the best, most comprehensive pricing guidance available based on real transaction data in different regions and sectors.  

4. For all types of equipment – big and small

Marketplace-E offers a wide selection of all types of equipment from all different industries. You can find everything from space heaters and skid steers to dozers and, yes large construction assets like cranes and excavators. The median prices range from single thousands to hundreds of thousands depending on the asset category. In other words, there is something for everyone and at all kinds of different price points. You can also find different kinds of assets from Ritchie Bros. solutions, GovPlanet, and, SalvageSale.

5. Price guidance helps you sell in around 45 days  

The speed of your sale on Marketplace-E can depend greatly on price point. It might be compelling to price your assets as high as possible, but that can mean a longer wait time for a sale. Using Marketplace-E optimized price guidance will accelerate your sale and reduce your wait time. Items with price guidance can sell in around 45 days. Marketplace-E also alleviates the need to wait for the next auction date, meaning you can sell right away. And with a Buy Now option, you could potentially sell your item the day it is listed, assuming you priced it accordingly with the market data you are provided.   

6. Your transactions are de-risked

Compared to private sales, Marketplace-E greatly reduces any risk when buying or selling assets. Marketplace-E is backed by a trusted global industry leader, Ritchie Bros., and offers inspection reports that mitigate any post-sale issues. Using this selling channel also protects users from potential scammers, as well as protecting your personal information. Marketplace-E specialists will handle the liens, invoicing, collection and payment. You don’t need to worry about anything, it’s all handled for you.