Ritchie Bros sale

[teeroy]

Somebody there bought a 2008, 60T tri lowboy for 217,000.00 !! Heard it was going to Oregon. Apparently he guy had already bought the jeep and booster for it so he was trying to keep the set together. What a maroon! Only around 150,000.00 new.

lol...that's crazy! remember a few years back when people were paying 20% more than new for used scissornecks at the auctions? we made out good selling a couple of our old 40 tons.

 

[powder junkie]

lol...that's crazy! remember a few years back when people were paying 20% more than new for used scissornecks at the auctions? we made out good selling a couple of our old 40 tons.

When u have work for it asap and its a few month wait for new iron as most trailers r built to order, then payn over new price isnt so bad

 

[gates559]

People think since its at an auction their getting a deal. Combine that with people thinking Alberta is hurting right now. I dont see any deals at all. Tools, New vehicles, rvs, heavy equipment and housing are all holding up pretty well.

Same as Kijiji, I have sold more used junk on there for more money than I paid for it new, its unbelievable that people can be so foolish!

 

[TylerG]

article in today's Edmonton Journal about the April Sale: Ritchie Bros. says Nisku auction was its largest in Canada

 

[rsaint]

Heard they made over 10m on the sale.

 

[steveo10]

I believe Ritchie's gets 10% so 21.5mil. Not a bad payday

 

[rsaint]

Was there today what a gong show 3.5hrs to pick up a frost tooth foe a excavator.

 

[Stompin Tom]

I believe Ritchie's gets 10% so 21.5mil. Not a bad payday

Ritchies negotiates percentages for companies, if your a Joe Blow you pay 15% on lots over 2500 and 25% on lots under 2500. Its pretty easy to negotiate a fee of 10 to 12 percent if you have a few pieces, and in a major consignment there can be guarantees and lower percentages. With the guarantee they could actually loose money on some lots. All in all they will have made a very strong profit, no doubt.

 

[Stompin Tom]

Was there today what a gong show 3.5hrs to pick up a frost tooth foe a excavator.

When I buy something from Ritchies in Edmonton I usually plan on picking it up in 7 to 10 days, saves allot of frustration in the yard.

 

[rsaint]

Ritchies negotiates percentages for companies, if your a Joe Blow you pay 15% on lots over 2500 and 25% on lots under 2500. Its pretty easy to negotiate a fee of 10 to 12 percent if you have a few pieces, and in a major consignment there can be guarantees and lower percentages. With the guarantee they could actually loose money on some lots. All in all they will have made a very strong profit, no doubt.

Under 2500 is 7% what i paid.

 

[rsaint]

When I buy something from Ritchies in Edmonton I usually plan on picking it up in 7 to 10 days, saves allot of frustration in the yard.

On my invoice after 8 days a storage fee kicks in.

 

[Stompin Tom]

On my invoice after 8 days a storage fee kicks in.

I dont know if it makes a difference if your a local buyer or internet buyer, but my invoice said all items to be paid for in 7 days and picked up within 14 days. I do all my purchases online. I have never had a problem going 7 to 10 days after sale. I always pay for the purchase the day after the sale, that keeps them happy.

 

[Lightningmike]

I heard people say at one of their sales in Lloyd that they charge both the buyer and seller 10%. Also not the first time I have heard that.


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[rsaint]

I heard people say at one of their sales in Lloyd that they charge both the buyer and seller 10%. Also not the first time I have heard that.


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I paid 7% on under 2500 for buying.

 

[arff]

I heard people say at one of their sales in Lloyd that they charge both the buyer and seller 10%. Also not the first time I have heard that.


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I work part time at the sale. I heard they do charge both sides. Not sure of the %

 

[Stompin Tom]

I work part time at the sale. I heard they do charge both sides. Not sure of the %

as per the website:

[h=3]Administrative fees for buyers[/h] Successful bidders are required to pay an administrative fee on each lot purchased (one fee per lot):

• 2.5% administrative fee for lots selling for more than 2,500, up to a maximum of 950 per lot (in the currency of the auction, or in the case of Japan, up to a maximum of 95,000 Yen for lots selling for more than 250,000 Yen).
• 10% administrative fee for lots selling for 2,500 or less (in the currency of the auction, or 250,000 Yen in Japan).
• This administrative fee applies to on-site, online and proxy purchases. There are no additional fees for online and proxy purchases.
• This administrative fee will be waived for purchases made in person at on-the-farm auctions.

 

[freeflorider]

I heard people say at one of their sales in Lloyd that they charge both the buyer and seller 10%. Also not the first time I have heard that.


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If Ritchie bros are doing this and they sell realty stuff to I wounder how long before the realty company's jump on board? Cost to sell and buy...not worth buying a new home as most of your equity goes into there pocket.

 

[doorfx]

It used to be they charged a commission to the seller based on the value of the item

 

[Stompin Tom]

It used to be they charged a commission to the seller based on the value of the item

They still do, but if they can charge the buyer 2% then they can make an extra 20% revenue .............................................. oh geez, not that again ..............................

 

[doorfx]

So it has increased by .....%? Lol