On September 21 Ritchie Bros. conducted a complete dispersal for Mikon Construction in Las Vegas. Mike Ray, the owner of Mikon Construction, sat down with us to look back on his selling experience and how he feels about the results.
How long was it before you decided to sell?
It was a quick decision. We had a whole bunch of equipment that we needed to sell.
How quick was the process to get started with Ritchie Bros.?
I called up my Sales Rep, Cal, and I said, ‘you know I’m closing the business and I’ve got a whole bunch of stuff to sell. I want to at least talk to you to see what you know. I’m a little concerned about the sale, and not getting the money out of it, but I want to talk to you.’ So, I think within two days he was in my office, and he was explaining to me what the different (solutions) they could do and go about selling the equipment.
Did you have any concerns about going with an auction format?
I had more than one person ask, ‘Did you get a guarantee?’ Well, no because I feel confident in my equipment. But I also feel confident when Ritchie Bros. tells me the market’s still good.
That is the concern with any auction and honestly if I had have gone anywhere else with this equipment besides Ritchie Bros., I’d have really been concerned about that. And that’s the truth because (the competitors) just don’t have the base and they don’t have the reach that Ritchie Bros. does.
Were you happy with the results?
I felt from the beginning that going to Ritchie Bros. was going to get me the best numbers. It exceeded my expectations. I sold 19 items in that auction that I got more money than I paid for them. I bought an end dump trailer 18 months ago that I paid $52,000 and got $75,000 for it. I bought a my newest Peterbilt that I paid about $160,000 and it went for $190,000, so there were some home runs. How can I complain? It was fantastic.
Why would you recommend Ritchie Bros. over the competitors?
You just can’t argue with the reach Ritchie Bros. has on the internet. Nobody has that. That’s the difference; that’s where the results are. I don’t see anybody in their league.