Event: Ritchie Bros. Auctioneers in Cambridge

By: Shannon Williams, Photography by: David Lott

Date: 10.07.2019

The recently held Ritchie Bros. Auction in Cambridge was a success, with buyers showing no reservation when quality is on the block

A recent heavy equipment auction in Hamilton saw the best-ever line-up of machinery for global auctioneers Ritchie Bros., attracting buyers from all around the world.

The June auction was the company’s first in New Zealand since 2017

With hundreds of registered bidders resulting in a multi-million-dollar sale, the auction proved a massive success and highlighted the importance of the New Zealand market for the company.

Ritchie Bros. Auctioneers is one of the world’s largest auctioneers of heavy equipment and trucks, offering customers end-to-end solutions for buying and selling used equipment and other assets.

The company was established in 1958 in Canada and now has more than 40 permanent auction sites in North America, Europe, the Middle East, Asia, and Australia. In 2018, Ritchie Bros. sold $4.96 billion of used equipment and other assets.

At the end of the day, all 262 lots were sold

The company holds ‘off-site’ auctions in New Zealand, and the June auction was its first since 2017.

"We have many New Zealand-based customers who regularly buy and sell through our permanent auction sites in Brisbane and Geelong, as well as some who like to access Ritchie Bros. global sales," says Ritchie Bros.’s regional sales manager, Cody Watson.

An impressive line-up of machinery attracted buyers from all around the world, including New Zealand, Australia, Fiji, Vietnam, and the US to the Hamilton auction.
Cody says the auction was a great success, with more than 500 registered bidders.

The impressive line-up of machinery was a huge drawcard for local and international buyers

"At the end of the day, we sold 262 lots, for 110 buyers," he says. The auction saw 21 customers consign 262 lots to the sale. "It was our best line-up of machinery at an auction in New Zealand, which was a huge drawcard for local and international buyers and a testament to our relationship with our customers," Cody says.

Richard Tucker, director of operations, APAC, says New Zealand is a significant market for Ritchie Bros.’ APAC business.

Richard Tucker, Ritchie Bros. Auctioneers director operations APAC

"The auction was a great day in New Zealand. We had a fantastic turnout, with hundreds of people on-site and even more online," he says. "As a team, we love coming to New Zealand being here with the industry; it’s a great day for us."

Cody says there are many reasons the auctions are a hit with customers, one of which is the fact that the events are an unreserved auction, meaning everything sells on the day.

"There are no games; if you’re the highest bidder when the auctioneer says SOLD, you’re taking that piece of machinery home with you," he says. "We approach every sale like it’s the most important sale of the year.

The auction saw more than 500 registered bidders

"We’re invested in making sure we’re the best at what we do, which is why we bring the crowds."

Cody adds that it was critical the team put on the best possible auction it could. "Our marketing is vital in letting people know the auction is on, but at the end of the day, it’s the machines that bring the crowds," he says.

"Our consignors trusted us with a quality line-up of machinery, and we saw good pricing across the board. Our customers were happy with the result, and we’re looking forward to scheduling another auction soon."

See more trucks and construction machinery for sale in NZ.