True or false: breaking down 6 myths about Ritchie Bros.

Ritchie Bros. is primarily known for its world-class auctions. For over 65 years, we’ve delivered dispersal solutions for customers all over the world who buy and sell heavy equipment, trucks, agriculture, rental, and many other industries.

But even with our longstanding experience as industry leaders, there are still many misconceptions about Ritchie Bros. For example, there’s a common misconception that Ritchie Bros. only offers live unreserved auctions. In fact, we have multiple solutions for customers to buy and sell equipment and trucks.

Here are a few other things you might not know about Ritchie Bros.:

True or False: Ritchie Bros. only sells equipment by unreserved auction

False. While Ritchie Bros. does offer unreserved auctions all over the world, we also provide a 24/7 online marketplace that gives the seller control over their asset’s pricing. For example, with Marketplace-E, you will list assets online while we source buyers and negotiate on your behalf. However, you determine your final selling price to interested buyers. You can also set a Buy Now price that you’re comfortable with. 

Marketplace-E

This is our online marketplace with Buy Now/Make Offer options.  

• Sell from your location or ours
• We advise on pricing and manage the sale & transaction
• You control the final selling price

Ritchie List      

Our one-stop-shop for used equipment dealers and resellers

• Easy-to-use, self-serve interface, automatic inventory upload
• Part of Ritchie Bros. Inventory Management System for easy disposition workflow
• Access to powerful pricing & market data tools

True or False: Ritchie Bros. only works with large companies.

False. Businesses of all sizes turn to Ritchie Bros. for over 65 years because their success is our success. We know every business is unique and that when it’s time to sell, a one-size-fits-all approach won’t cut it. Whether you’re selling one piece of equipment or a whole fleet, we offer tailor-made solutions for all types of businesses, and you will get the same level of excellent service.

True or False: If you sell with Ritchie Bros, you need to bring your equipment to our yard.

False. Moving your assets to one of our world-class facilities isn’t always the most viable option for business looking at their transportation costs. That’s why we offer the ability to sell directly from your yard (or ours) depending on your needs.

For example, our IronPlanet Weekly Featured Auctions offer a convenient way to buy and sell equipment each week online with all equipment being sold direct from your yard or virtually from our auctions. Marketplace-E also offers the ability to sell direct from your premises. 

True or False: Ritchie Bros. purchases equipment directly.

True. In some cases, Ritchie Bros. can guarantee or buy equipment directly from you. For specific equipment types and situations, we offer the possibility of a direct purchase agreement. This is how it works:

Outright Purchase:

Ritchie Bros. purchases your assets for a specified amount in one complete and final sales transaction.

Gross Guarantee:

Ritchie Bros. guarantees a specified base cash value, then share a percentage of any additional sales proceeds.

True or False: You need to be a dealer to buy at a Ritchie Bros. auction

False. Ritchie Bros. auctions are free to register and open to the public for everyone to attend and participate. All you need is to sign up for a free account online or at our auction facilities with your information.

True or False: Ritchie Bros. is just an auction company

False. Ritchie Bros. also offers the industry’s best equipment insights and services. Get access to the deepest metrics and data for equipment pricing benchmark valuations, market trends and more. Plus, we provide innovative and industry-leading services such as financing, shipping, parts procurement, and much much more. 

Now that you have a deeper understanding of Ritchie Bros. and everything we have to offer, perhaps you will like to have a no-obligation chat with your Ritchie Bros. representatives?

We would like to listen to your situation, learn about your business and provide tailored advice.

Contact us for a no-obligation chat about your selling options.

See also

How to sell surplus for government agencies: 5 tips for better results