Ritchie Bros. launches IronPlanet in UAE for online auctions
Heavy machinery auctioneer brings newly-acquired US brand to the region
Global heavy equipment auctioneer Ritchie Bros. has introduced its newly-acquired online-only brand, IronPlanet, to the UAE.
A statement from Ritchie Bros said that the new platform complements Ritchie Bros.’ onsite auctions and offers new benefits to customers, which include selling without transporting items to a centralised location and the ability to sell items for a fixed price, negotiate offers or set a reserve. IronPlanet also offers an inspection service that gives buyers confidence to buy online, sight unseen, Ritchie Bros. said, adding that after acquiring the brand last year, it decided to quickly bring it to the UAE and expand its services to customers in the country.
“Since IronPlanet launched in the US 18 years ago it has become a leader in online auctions and marketplaces, with 1.9 million users globally,” said Karl Werner, president, International, Ritchie Bros. “With IronPlanet we’re now offering a true multichannel solution for our customers, with options to sell, buy and list equipment when, where and how they want, whether onsite or online.”
Buyers can virtually inspect items online and review detailed inspection reports completed by qualified inspectors. Equipment sold through IronPlanet is backed by the company’s IronClad Assurance, guaranteeing the accuracy of the inspection report on each item sold, added the statement.
“Today’s customers are much more comfortable with the online sales experience. In 2016 roughly half of the equipment sold in our onsite auctions was sold to online buyers. Our goal is to be a one-stop-shop for all asset management and disposition, as well as providing equipment buyers the largest selection of equipment available anywhere in the region,” said Werner.
Ritchie Bros. has been helping businesses in the region sell construction, mining, transportation and other equipment for more than 20 years through its full-service onsite auctions in Dubai. This year to date, the company has sold more than 5,500 items at its Dubai site and has another machinery auction scheduled on December 12– 13, said the statement.
Ritchie Bros. operations in the UAE now includes IronPlanet’s monthly online featured auctions, which are unreserved auctions held every month that are online-only and do not require equipment to be transported to a central location prior to being sold.
The company’s offerings also include Marketplacee, a reserved online marketplace with flexible online auctions offering customers the choice of selling assets at a fixed price, negotiating offers, or setting a reserve (minimum) price.
In addition, Ritchie Bros. has its traditional unreserved onsite auctions, which feature full-service, unreserved auctions with a live auctioneer and real-time online bidding. Equipment is stored at, and the auction is held at, a central Ritchie Bros. auction site. There are four onsite equipment auctions held at the company’s Dubai site each year.
