The auction will provide local businesses and international buyers the opportunity to purchase secondhand machinery directly in New Zealand
Ritchie Bros. has announced its first Unreserved Auction in New Zealand in five years. The auction, set for 14 November 2024, will offer a wide range of construction, transport, and agricultural equipment, all sold with no minimum bids or reserves.
The auction, which will be conducted online, already has hundreds of items consigned, including excavators, wheel loaders, and dump trucks, and more equipment is expected to be added in the weeks leading up to the auction.
The unreserved auction format means that every item will be sold to the highest bidder on the day of the auction, with no minimum bids or reserve prices. This model ensures competitive pricing for buyers and guarantees sellers a sale on auction day, no matter the final bid.
“With Earthworks season now open, this auction is a fantastic opportunity for businesses to purchase essential equipment before the summer rush,” says Dom McGlinchey, regional sales manager for Ritchie Bros.
“We’re thrilled to reintroduce our unreserved auction model to New Zealand after a few years away, and the strong consignments we’re already seeing signal that this will be a landmark event for the industry.
“For sellers, this is also an excellent chance to turn assets into cash before Christmas. The unreserved format guarantees that every item will sell on the day, providing immediate liquidity for businesses looking to offload machinery.”
A range of equipment be available for inspection at Ritchie Bros’. yard in Drury prior to the auction date. Potential buyers can inspect the machinery in person or explore detailed listings and photos online.
“We have a strong base of New Zealand customers who have been participating in our Australian unreserved auctions for years,” says Dom. “Now, we’re bringing this auction directly to them. We expect to attract bidders from across New Zealand, the Pacific Islands, Australia, and beyond.”
Interested buyers can register and participate in the auction through ironplanet.com.au.