With more than 2,350 construction and transport items up for sale online in the IronPlanet Super Auction, Ritchie Bros. says demand not waning as industries diversify
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Ritchie Bros. says demand hasn’t waned despite new coronavirus restrictions
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Adapting to coronavirus social distancing advice has seen Ritchie Bros. Auctioneers move 2,350 items with an estimated value in the tens of millions of dollars online, forming Australia’s largest ever construction and transport auction.
The IronPlanet Super Auction, running 30-31 March 2020, will feature trucks, tractors, bulldozers and excavators that were to be sold at live auctions in Queensland (Yatala) and Victoria (Geelong), with more than 4,000 bidders onsite.
Finlay Massey, Regional Sales Director at Ritchie Bros. said the shift to an online super auction is an example of the organisation’s strategic response to the current coronavirus crisis.
“It’s a challenging environment right now but our teams globally are adapting to suit their unique markets so buyers can still obtain the gear they need to help keep vital projects moving forward,” Massey says.
Massey acknowledged uncertain economic conditions but said equipment and machinery is still a much-needed commodity.
“At Ritchie Bros. we’re already seeing businesses take advantage of the federal government’s $150,000 instant asset write off, as demand for gear remains strong across construction, transport, and the agricultural sector as farmers look to diversify their business operations.”
While a move to online is a big change for bidders accustomed to the wide-open lots of a live auction, Ritchie Bros. is investing in the online experience so it will still allow customers to get a true sense of the product they’re browsing and buying.
The IronPlanet Super Auction is a two-day event held from 30-31 March 2020. Day one is construction items and day two is transport and agriculture. Bidding is open now and will close 30-31 March.
Ritchie Bros. Brisbane and Geelong yards are open for inspections every day until 31 March.
Bidders can register for an IronPlanet account at www.ironplanet.com.au.