How to decide on a selling channel at Ritchie Bros.

There are lots of different circumstances that influence when you need to sell equipment: projects get wrapped up, you’re renewing or upgrading equipment, assets are at end-of-life, you’re resizing or refocusing your business, and a host of other scenarios. And much like the reasons for selling, there are a myriad of factors and priorities that will dictate how and where you want to sell.

When you’re deciding on a selling channel for your equipment, the priorities that drive your decision are usually business-related, but can also be based on personal choice too, and usually fall into one of three categories: price, timing, and convenience. Let’s take a closer look at what we mean by those selling priorities, and the advantages and trade offs each of our different solutions offers.

Your priority: Price

Price seems an obvious priority. Every seller wants to get the best price possible for their equipment, but in the context of choosing a sales channel, this has more to do with your say in the price you want, as it were. For example, do you want to set the price yourself, get qualified guidance on setting a competitive price, or get global market pricing for your assets?

If you want industry-leading pricing guidance to help you set an optimal price, here’s a look at how Marketplace-E, our 24/7 online marketplace with control over price & timing:

If you want competitively-driven market pricing, we recommend Ritchie Bros. live auctions with multiple events each month with onsite & online bidding, or IronPlanet weekly online auctions:

Your priority: Timing

Timing in the context of selling priorities relates to how quickly you want or need to sell. Do you need to sell quickly to get funds in the bank in a timely manner, do you have time to manage the sale, consider offers and get the price you want, or somewhere in between the two scenarios?

If you need to sell, but are open to waiting, we recommend Marketplace-E:

If you need to sell quickly and need the assurance of receiving funds on a certain date, we recommend regularly scheduled Ritchie Bros. live auctions or IronPlanet weekly online auctions:

Your priority: Convenience

Convenience is a priority that can be for personal reasons, business reasons, or a mix of both – i.e. you do or don’t want to manage the selling process and everything that goes along with that – the time involved, logistics, admin work and more.

If you want to control the terms, but have someone else manage the selling process, we recommend Marketplace-E:

And if you want someone to sell for you and take care of the entire process, we recommend Ritchie Bros. live auctions or IronPlanet weekly online auctions:

Interested in selling via our flexible transaction solutions? Fill out the form below!

See also

A farmer’s checklist for preparing equipment for resale