Early success as on-the-farm events switch to Timed Auction

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Farm tractors for sale at Rtichie Bros.

A record 3,500+ bidders participate in first-ever on-the-farm Timed Auction.

In the face of adversity, technology has come to save the day for Ritchie Bros. and its customers.

Over the past few weeks, COVID-19 has had a major impact on the lives of nearly person in the world. Sporting events, concerts, and trade shows have all been cancelled. Public gatherings of more than a few people no longer exist. But, farming, trucking, and construction all continue as essential services to our society and these industries all need equipment. So, Ritchie Bros. quickly got to work restructuring its events to work for its customers.

All Ritchie Bros. live industrial auctions are now online-only, with a live auctioneer still conducting the show. But its on-the-farm events, well, for those Ritchie Bros. thought it would best to use its Timed Auction technology. And based on early results, the company was right.

On Monday (March 30) this week, Ritchie Bros. conducted its first-ever farm retirement sale through Timed Auction. The auction, held in Taber, AB for Glen and Tracy Sebok, attracted more than 3,500 people, setting a new company record for ag auction participation! Pricing for items was very strong and the result far surpassed the Sebok’s expectations. Specific highlights included a 2012 Case IH Patriot 4430 120-ft high clearance sprayer that sold for CA$232,500 and two 2014 Case IH 8230 combines that sold for CA$220,000 each. As always, all items were sold without minimum bids or reserve prices.

Early success continues with auctions in Brooks, Fairview, and Warner, AB

Ritchie Bros.’ first four farm Timed Auctions resulted in 10,750+ bidder registrations! It’s clear there are buyers out there and the results are saying the same. Here are some sales highlights from these early events. Stayed tuned for a lot more farm auctions this spring—get online and bid!

2018 John Deere s780 Combine at Ritchie Bros farm auction

This 2018 John Deere S780 combine sold for CA$500,000 (US$354,850) at a Ritchie Bros. auction in Fairview, AB. It sold through Timed Auction to a buyer from Stettler, AB

Used 2011 Case IH Steiger 500 quad tractor sold at farm auction

This 2011 Case IH Steiger 500 quadtrack track tractor sold for CA$257,500 (US$182,748) at a Ritchie Bros. auction in Warner, AB. It sold through Timed Auction to a buyer from Moose Jaw, SK.

2014 John Deere 4830 100ft Sprayer sold at farm auction

This 2014 John Deere 4830 100-ft high-clearance sprayer sold for CA$245,000 (US$173,877) at a Ritchie Bros. auction in Fairview, AB. It sold through Timed Auction to a buyer from Nampa, AB. For a list of upcoming on-the-farm auctions, visit rbauction.com/auctions.

Here’s a letter from consignors Walter and Linda Fast, who sold all their assets with Ritchie Bros. as part of a retirement dispersal auction on April 2:

We would like to thank the Richie Bros. staff for the support and professionalism they have shown to us in the planning and executing of our farm dispersal auction sale.

We always knew when it was time for us to retire that Ritchie Bros. was who we wanted to look after our farm sale. What we didn’t know was that it was going to occur in the midst of the Covid-19 pandemic. Our rep Mike was there for us, keeping us calm as we nervously navigated through to a very successful farm sale. Mike’s calm demeanor and professionalism did not go unnoticed.

We would also like to thank the office staff for the quick responses to our concerns.
The documentation and photography team were also easy to work with and always helpful.

Once again a heartfelt thank you to all of you.

Sincerely,
Walter and Linda Fast

 

 

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