Auctioneer’s assistance in challenging times

By Mike Hayes22 May 2020

RitchieBros-SE10-distributionMay2020

A dozer is checked over ahead of a Ritchie Bros auction

Ritchie Bros has established a range of payment options for customers, to ease cash flow challenges brought about by the coronavirus crisis.

The construction equipment auctioneer, which has taken sales completely online for the time being, says it has seen little change in demand, up to this point.

Karl Werner, international president at Ritchie Bros, said, “The regular in and outflow of fleet management does not stop and we’re here to help, with a variety of sales solutions and contract options to suit any need.”

Ritchie Bros says it can potentially assist sellers by, for example, providing funds in advance against the expected sale price for equipment, or even purchasing a seller’s assets outright.

Werner said, “Our vast experience of buying and selling equipment around the world means we can estimate equipment value with a high degree of accuracy. Final sale prices are usually within a small range of our expectations. That allows us to offer customers the option of drawing funds in advance of a sale with an advance payment or using another of our bespoke selling options. We’re seeing in these times there is more need for services like this.”

Werner admitted that, while there is obviously “some uncertainty at the moment,” but said the company was keen to “reassure our clients and discuss options that will give them the best outcome for their business now and in the long term.”

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