Special feature: Ritchie Bros. post auction report

Deals on Wheels editor finds out how the recent Ritchie Bros. global online auction went and who was bidding for the equipment

I really should have paid closer attention to the advertisements Ritchie Bros. ran prior to their recent unreserved auction held at Drury, South Auckland. I had turned up onsite with the expectation that a hoard of punters would be milling around a vocal auctioneer in anticipation of a good buy or a healthy sale.

It quickly dawned on me that I had missed the crowds that descended on the inspection weekend a couple of days earlier and being the international business Ritchie Bros are, meant an online auction was underway and local buyers were gathered at their computer monitors, tablets, or smartphones, while all around the globe buyers were getting up early or doing a late night in the hope of securing a decent piece of Kiwi-based kit.

After a quick chat in the office with Ritchie Bros. equipment inspector Sam Langdale-Hunt, he gave me a rundown on the equipment that was up for sale and the procedure being carried out on the day. Coincidentally, his grandfather Joe Tuffs features in this month’s mag (p42). What are the odds of that?

One of Sam’s main responsibilities is checking the equipment when it arrives and compiling a comprehensive report on its condition and features – an all-important dossier of information for any prospective buyer. His past experience as a scraper and heavy equipment operator, along with time behind the wheel of truck and trailers gave him more than enough street-cred for his job, not to mention the family pedigree.

Huge selection of equipment

Ritchie Bros. post auction report — The white 2008 Kenworth T908 sold for $115,000

Out in the yard, the huge selection of equipment about to find new owners was simply impressive and a few groups who could not make the earlier inspection weekend were busily checking out equipment before casting their bids.

One pair of buyers had come across from Western Samoa and were looking to source a tractor for their farm back home, where it will be used to cultivate fields in what sounded like a sizeable operation.

“What size do you think is best,” one asked while deciding between a Fendt MT430 or its larger Fendt MT610 sibling.

After consulting the Ritchie Bros. app and seeing that both tractors had similar hours, while taking into consideration the other well-prepared information, I offered up the following: “The 430 will probably use less fuel, but if you’re plowing big fields then at some stage you’ll probably regret not buying more power.”

Leaving them probably no better informed than before I arrived, I wandered off to see what else was on offer. It’s always awkward when someone asks for advice about buying, as usually they have already made their mind up.

The sheer number of trucks and machines up for sale was a good indicator of how the market is behaving at the moment, with a few machines recognisable from large recently completed projects. Still, being able to cash up assets in a straightforward manner that the Ritchie Bros. process allows means that equipment owners can position themselves to take advantage when conditions are more favourable.

Having a look over some of the newer equipment being auctioned was Brendon Berkett of Berkett Earthmovers in Hawke’s Bay. Being a hard-and-fast Caterpillar loyalist, there was one particular item that caught his eye and the auction date tied in nicely with a family trip to Auckland.

“I do like the intensity of an in-person auction and it’s always good to catch up with a few mates,” Brendan says. “I can see how an online auction brings in buyers from all around the world, which is good for the sellers, but I do miss the hype of a crowd clambering for a piece of gear.”

Post auction

Looking at the post-auction information, Ritchie Bros. reports that 664 bidders registered, with 154 buyers purchasing 260 lots. The majority of the buyers (140) were located in New Zealand, with 14 buyers coming from offshore and will see those machines shipped to far-flung locations such as Peru, the Netherlands, and the United States.

“Our unreserved auction method continues to prove its effectiveness, even in challenging economic conditions like those currently faced in New Zealand. It generates excitement, fosters healthy competition, and ultimately delivers outstanding results for both sellers and buyers. The numbers speak for themselves – 8,156 bids throughout the event are a testament to the level of engagement we’ve created,” says Dom McGlinchey, Ritchie Bros. regional sales manager, Australia South & New Zealand.

“We saw a significant increase in bidders and buyers this year, which is a direct result of our strategic marketing efforts across digital, social, radio and more. These campaigns outperformed our competitors, creating real buzz around the auction and driving exceptional traffic both online and onsite. The yard was bustling on the opening weekend, and the turnout was nothing short of impressive.”

An example of what an unreserved auction can achieve was the 1999 Cat 120H motor grader. Apparently, it had previously reached a maximum bid of NZ$45,000 without hitting reserve, however at the unreserved auction, it sold for NZ$95,000 – more than double the previous bid. “It’s results like this that show the power of unreserved auctions for sellers,” says Dom.

“This year’s end-of-year auction has set a new benchmark for us. From the impressive turnout in the yard to the high level of online participation, it’s clear our approach is resonating with the market. We’re already looking forward to building on this momentum in 2025.”

For more information, visit ritchiebros.com