Ritchie Bros. Auctioneers (RBA) Announces Largest Timed Auction Event in the United States in Sacramento, CA
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More people are shopping online than ever before, it’s the new normal. Time is money and Ritchie Bros. wants to make buying and selling equipment and trucks as easy, efficient and secure as possible, with a multitude of innovative solutions and sales formats to meet the needs of its customers.
Last week, the company sold more than 2,800 items for more than US$29 million in its largest ever automated online sale. Timed auction event in Sacramento, California. With the timed auction format, buyers place a maximum bid online and the system bids for them up to that amount with regular automated feedback if they are outbid. It saves time for buyers and generates strong returns for sellers.
“We introduced timed auctions to help us sell attachments and smaller items more efficiently, but over the years we’ve optimized them to handle items of all sizes and get big returns for our sellers,” said Brian Hamre, regional sales manager, Ritchie Bros. “Our event in Sacramento last week drew an average of 37 bids per lot, showing the strong buyer demand in the market today. If you have excess material, now is a great time to sell and we have a solution for every situation.”
The record-breaking Sacramento Timed Auction event, held March 30, drew more than 8,250 bidders from more than 40 countries, representing a 25% year-over-year increase. About 97% of the equipment in the auction was sold to American buyers, with 63% sold to Californians, while the remaining 3% was sold to international buyers from as far away as Guatemala, India and Australia.
“We continually review and update our technology to ensure we meet the ever-changing needs of our customers and the industries in which we operate,” said Baron Concors, Chief Information Officer, Ritchie Bros. “Our online timed auction format offers great convenience and transparency. to customers. Timed auctions provide details on exactly when the item will sell, you’re notified if and when you outbid, we’ve added time extensions to give buyers more time to decide, and you can choose your own language We’ve also recently added timed auctions functionality to our mobile app to make shopping online easier than ever.
Sacramento Big Sellers:
- 2014 Caterpillar 740B Articulated Dump Truck – US$257,500
- 2005 Kenworth T800 with Manitex 28102S 28 Ton Straight Boom Truck – US$202,500
- 2018 Caterpillar 323 Hydraulic Excavator – US$185,000
- 2016 Kenworth T800 6×4 Twin Axle Tractor Truck – US$177,500
- 2018 Peterbilt 367 8×4 Tri-Axle Dump Truck – US$157,500
Ritchie Bros. has tens of upcoming events on their calendarincluding weekly iron planet and GovPlanet auction, three days Auction in Houston, TX April 12-14 with over 3,800 itemsand one Timed Auction California Dealer Teardown Event on April 22.