Don’t miss the chance to end this year in a stronger position than last year!
Online auctions, such as the quarterly auctions held by Ritchie Bros. in Dubai, are proving to be an excellent solution for both buyers and sellers of machinery and heavy equipment in many regions, including the Middle East, Africa and the Indian subcontinent. Don’t miss the opportunity to participate in Ritchie Bros.’ final Dubai auction of 2020, which opens for bids on December 8 and closes for bids on December 15-16.
Since early 2020, all Ritchie Bros.’ auctions held globally, including those in Dubai, have been held entirely online due to the COVID-19 pandemic.
The company now exclusively uses ‘Timed Auctions’, an easy-to-use online auction format allowing bidders to place bids over several days until the auctions close. Ritchie Bros.’ auctions are continuing to gain popularity in the new online format, with bidder participation frequently breaking site records in 2020. Essentially, Ritchie Bros. has transitioned from a live and online auction business to an asset disposal service provider with a strong digital infrastructure in place to help business succeed.
Online Timed Auctions serve both buyers and sellers
Ritchie Bros.’ online auctions are easy to join and bidders have more time to get their bids in. They receive notifications when they’re outbid or in the lead. No wonder why the auction company has seen a big increase in bidder participation over the course of the year – including at its Dubai auctions.
With an easy-to-use website, buyers in any location can now join the auctions. Equipment owners that are looking to sell benefit as well. With the auctions they tap into global demand with interested buyers from all corners of the world. Ritchie Bros.’ September auction saw buyers join from 86 countries.
Either from or to an auction site, Ritchie Bros. customers can use Ritchie Bros. Logistics, the company’s international shipping service, to make transporting equipment an easy and carefree process.
Buyer demand remains strong despite COVID-19 pandemic
Although the pandemic has impacted many businesses, international demand for heavy equipment and trucks remains strong. Bidder attendance at Ritchie Bros. auctions has been steady throughout 2020. The Dubai auction in September even broke a five-year record, with more than 1,280 bidders – a 32% increase compared to the same auction in 2019. At this auction the company sold more than 2,000 pieces of heavy equipment, trucks and other items, demonstrating its value in the equipment market.
Final auction date of 2020
The final Dubai auction of the year will take place in December, with bidding opening on December 8 and ending at staggered times on December 15 & 16. Businesses in the Middle East and further afield are currently working with the Ritchie Bros. team to add inventory to the auction, which will take place entirely online. It offers a great opportunity to sell or buy equipment before the end of the year. The auction is unreserved, meaning all items will be sold to the highest bidders, without minimum bids or reserve prices. Thanks to this Ritchie Bros. can guarantee the sale of the equipment.
Although the auction will be held online, interested bidders or their representatives can visit the Ritchie Bros. Dubai site in Jebel Ali Free Zone to view items, starting December 6, 2020. Visitors will be asked to wear face masks and keep a safe distance from each other, but they can still expect a warm welcome from the Ritchie Bros. Middle East team.