World-leading auction house focuses online.
With concerns about large gatherings growing around the world due to the COVID-19 pandemic, many trade shows and events have been cancelled. Thanks to its industry-leading online bidding system and mobile application, Ritchie Bros. will continue to conduct regular onsite auctions, with temporary changes to the process and procedure of those events.
Instead of bidding in person, the company is encouraging customers to participate online or via its mobile application. An auctioneer will still be used to conduct Ritchie Bros.’ onsite auctions, but all equipment and trucks will be sold virtually.
Upcoming auctions in France, UK and Germany will be held entirely as Timed Auctions – an easy-to-use online bidding system with set opening and closing times for each item. When bidding closes on an item, it is sold to the highest bidder. Closing times may vary per item and are available on rbauction.com.
• St Aubin sur Gaillon, France – all items will be sold via Timed Auction between 13 – 18 March
• Maltby, UK – all items will be sold via Timed Auction between 20 – 25 March
• Meppen, Germany – all items will be sold via Timed Auction between 19 – 27 March
• Caorso, Italy – auction is postponed to 28 April
“The safety of our customers and employees is our first priority,” says Ann Fandozzi, Chief Executive Officer, Ritchie Bros. “The demand for equipment right now is high—as witnessed by the strong pricing we’ve seen in all our recent events. With our online bidding technology, we can keep the market moving while simultaneously keeping people safe.”
Today, upwards of 78 percent of winning bids in Ritchie Bros. live auctions are made online. Additionally, due to new efforts to drive online demand, Ritchie Bros. has seen visits to rbauction.com and web account creations increase by 15% and 19% respectively. Ritchie Bros. mobile application users have also risen drastically, up 90% year over year.
Ritchie Bros. will also conduct live and virtual onsite auctions at its sites in Columbus, OH; Sacramento, CA; Chicago, IL; Los Angeles, CA and St. Aubin sur Gaillon, FRA this week. A limited number of bidders will be allowed to participate onsite (based on local legislation), but bidders are encouraged to participate online. For a complete list of upcoming Ritchie Bros. auctions, visit rbauction.com/auctions.