Ritchie bros sale
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Stompin Tom
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yes they have raised their fee's, but it is not 10% across the board
"Each purchased Lot will be subject to a transaction fee of (a) 10% transaction fee on all Lots selling for 5,000 or less or (b) 3.85% on all Lots selling for over 5,000 up to 33,500, with a minimum fee of 500 per Lot or (c) 1,290 on all Lots selling for over 33,500 (in the currency of the auction). The transaction fee applies to on-site, online and proxy purchases and will be waived for purchases made in person at on-the-farm auctions."
https://www.rbauction.com/buying/read-before-you-bid
"Each purchased Lot will be subject to a transaction fee of (a) 10% transaction fee on all Lots selling for 5,000 or less or (b) 3.85% on all Lots selling for over 5,000 up to 33,500, with a minimum fee of 500 per Lot or (c) 1,290 on all Lots selling for over 33,500 (in the currency of the auction). The transaction fee applies to on-site, online and proxy purchases and will be waived for purchases made in person at on-the-farm auctions."
https://www.rbauction.com/buying/read-before-you-bid
It's a bit higher, but not that much in the scheme of things when you're spending that much. The max before was $1000.
As much as i'm not crazy about them, they get a ton of equipment so as a buyer you pretty much have to look there to buy. And as a seller, they do bring in pretty good dollars. If you can find what you're looking for privately, a lot of times it's not worth going to the auction. I was at the october sale looking for a hoe, went stupid, got a much much better deal off of kijiji right after.
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Cat401
Active VIP Member
You get the "dumb post of the day award" Cyle...........of course it's not that much to each individual buyer but it is millions more profit in the pockets of R.Bros..... gouging at its finest....
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Here's how you need to look at it, add the commission to the total price, compare to other means of purchasing, if it's still less it makes sense. It's the cost if you want to buy there, nothing you can do about it. Don't like it, don't buy there. But I can guarantee you, it's not going to effect them one bit. As far as more profit, says who? As far as I can remember their fees have been unchanged for at least 3-4 years, so if anything it's increasing with inflation.
Stompin Tom
Active VIP Member
Ritchie Bros is a free enterprise company with the right to make a profit. You as a consumer have the right to either deal with them or not deal with them. If their service supplied is worth the extra cost people will pay it, if not they wont attend or list items with Richies. Its the great thing about free enterprise.
Ritchies supplies a service to industries, and they do a darn good job of it, if they can use their product to make more profit that is their right.
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They still seem to do major numbers of units every auction. I think it's quite impressive what they have built themselves into!
Beels
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Especially after they've either ran everyone else into the ground or bought them up. The options are few and far between.
S.W.A.T.
Active VIP Member
Doesn't affect them?
Why is RB closing down auction sites then?
Something must be affecting them
freeflorider
Active VIP Member
I bet cha there no diffrance between them or any other box store, they keep the cost low buy utilizing central locations and keep there profits high by down sizing or selling off dud locations. PG is done now, not a suprice. They say you want to sell, stick it on a lowbed to chilliwack or Edmonton, your likely to fetch a better dollar anyhow.
They know what there doing.
Stompin Tom
Active VIP Member
They shut down PG for a very simple reason, they wernt getting the listings from the area. Went from 5 sales a year to 4 sales to 3 sales and having to have a combined sale with Chilliwack to get enough lots. People think its an endless money pit having a sales yard, but there are allot of costs in having a yard like PG and is simply was no longer profitable. I will miss it, there has always been Ritchies sales in PG since I was a little kid, the spring sale was almost like a holiday with all the loggers for 500 miles in any direction coming in. A big party and lots of socializing. Sadly it is now gone.
S.W.A.T.
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Drop in sales and the closing of a yard says something.
steveo10
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Sold a mechanic truck in the sale. Did very well!
Stompin Tom
Active VIP Member
Yes, it says they are more interested in centralized sales centers with bigger population and more listings.
S.W.A.T.
Active VIP Member
Or it says they were no longer making money in that location
When I sold through them, they flat out told me even if someone had a item in GP, most of the time it pays to transport to Edmonton for a higher price. They obviously didn't want to bother with GP anymore, and it makes Edmonton's sales even bigger. For example i'm in Edmonton, I couldn't be bothered to drive to GP for any item, but if it was in Edmonton, yes. So you are loosing a lot of bidders in GP. And costs are a lot lower having one massive place.
Prices were stupid on many things. There was a skidsteer that was bought in GP last summer, sold for $12k, went for $16.5k. Some people are just retarded and think cause it's an auction it's a good deal. I'm really getting to the point of just buying a new one, instead of paying a crazy price for someones junk. There was some good deals on highway tractors though, not just one or two, so don't think it was just ones that were garbage or anything. There was a hoe, virtually exactly what I bought privately in oct, I paid $7k less (not counting them having to pay a buyers fee) and got over $20k of attachments based on that auctions prices of buckets, ripper, etc, manuals, filters, extra teeth, etc and only thing mine was missing was a thumb which I added for $5k. Adding in, I bought mine from original owner which is invaluable. And when you're talking a $70k hoe that's a lot extra.
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007sevens
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I bought three lots totalling $7100 Total tranaction fees added in after I paid was close to a grand. Total bill with tax 8450ish.
Stompin Tom
Active VIP Member
"but there are allot of costs in having a yard like PG and is simply was no longer profitable."
you mean like I said?
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