SPOTLIGHT

Five years ago, heavy equipment auctioneer Ritchie Bros. opened its UK headquarters in Maltby in South Yorkshire and today the site, one of 50 the company operates around the world, handles about 2,000 lots at auction every six weeks.

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Development of the Maltby site, which served as a coal mine for a century since 1912, began in 2019. It was a step by step process with the help of local contractors, with continual enhancements taking place to transform the facilitiessurfaces were levelled, old structures demolished if not renovated, new offices were constructed, and equipment services added – with the first auction being held there on February 26th 2019.

Ritchie Bros., of course, has a long history in the UK, a history that stretches back to 1987, when the company held its first European auction in Liverpool, which featured rows of machinery used to repair roads and bridges in the Falkland Islands after the war. A series of auctions took place at multiple locations in the UK Midlands in the following years, including Donington Park.

Attended by bidders from around the world in person and online, auctions at the Maltby site continue to grow in popularity. Last year saw much success and 2024 is on track to be another record breaking year as the team at the company’s UK operation navigates the ever-evolving auction landscape.

Rupert Craven, Ritchie Bros.’ UK & Ireland Sales Director, says that in the first four years at the Maltby site they conducted 36 auctions, attracted over 30,000 registered bidders, and sold over 38,000 excavators, tractors, dumpers, trucks and other machinery to businesses from all over the world – and those figures have grown considerably. Last year was exceptional, marked by an impressive nine auctions at the Maltby site.

“We successfully sold over 10,000 machines during these events. The company has witnessed the achievement of outstanding package sales, such as the McCabe Earthworks auction. We secured exceptional results for our valued customers. Among the 59 machines that were listed, there were some standout results with a 2017 Metso Lokotrack LT200 Cone Crusher fetching £205,000 from a qualified Ritchie Bros buyer in Panama, as well as a UK buyer securing a 2019 McCloskey Bros V80 impact crusher for £197,500.

Another fantastic package came from UK-based crane hire company Ainscough, which allowed bidders to bid on top-quality all-terrain cranes at our March auction.

BIG RANGE OF ASSETS & PRICES

“Today, we stage an auction every six weeks, with 2,000 lots on offer which means currently we are handling 100 lots a day,” says Rupert. “Those consist primarily of rental machinery, much of which is used in the quarrying, crushing and demolition sectors – from a steel saw up to a 100 tonne rock truck, with values from £50 to £1million. That’s quite a big range of assets and prices and a big range of customers.

“Most lots for sale arrive on site within the last three weeks leading up to the auction, so it gets very busy, as you can imagine. All the machinery comes from within the UK. The Maltby site is well situated and convenient for our customers, but while the physical location is important, the people are much more so. Those working at the auctions and those customers buying and selling equipment deserve the best facilities, and we are proud of what we have achieved at Maltby.

“We recognise everybody has different requirements and different needs so we have a range of services to meet that demand – and we normally pay out within 21 days of the auction. Most people want to be able to collect the machines as soon as they own them, which means in the first seven days after the auction most of the machinery will have left the site.”

ONLINE TIMED AUCTIONS

Every piece of machinery that arrives ahead of the auction undergoes a detailed inspection before it is placed on the Ritchie Bros. website (rbauction.co.uk) where it can be viewed and subsequently opened to the bidding process from buyers anywhere in the world. Increasingly popular is the Online Timed Auction, a system that is automated, fair and provides great convenience because the bidders set the pace, not an auctioneer.

Bidding opens a few days before the auction date and closes at staggered times during the auction. Every item is sold to the highest bidder when bidding closes. The system provides you with an overview of the bidding on each item under ‘All Lots’, including when bidding closes and how much time is left, where the item is located and more item details. Additionally, you can add the item to your watchlist using an ‘eyeball’ button.

You can place your bids using a ‘Place bid’ button. Clicking the Place bid button opens a box where you can also view the bidding history, the current high bid and the bidder number of the high bidder. To place your maximum bid on the item, simply enter the maximum amount you are willing to bid on this item. The system will automatically bid the lowest amount required to win for you. No need for you to monitor. The system will only raise your bid if someone outbids you. In the case of a tie, the first bid placed wins. If you are the current high bidder, you may return to the Place bid box to edit your maximum bid amount.

When time is running out on an item, any new bids placed will cause additional time to be added to the closing time of the lot. This gives you an opportunity to react and place another bid before the lot is sold.

MARKETPLACE-E CONTINUES TO THRIVE

Meanwhile, Ritchie Bros.’ reserved price marketplace platform Marketplace-E continues to thrive, allowing sellers and buyers the opportunity to access a global marketplace 24/7. It is not an auction; customers can make an offer on machines and negotiate or buy it directly.

Marketplace-E is unique because it takes care of the selling process for sellers; the company’s Marketplace-E Specialists find and negotiate with qualified buyers worldwide to reach great prices and support the transaction process.

In 2023, top sales on Marketplace-E included a tracked trencher Toro RT120 from 2015. The machine fetched £100,000 in August 2023. Another nice sale on this global platform was a Terex Aggresand 206 wash plant.