POSTED: Thursday, December 27, 2012 - 4:43pm
UPDATED: Friday, December 28, 2012 - 11:05am
The Ritchie Bros are well known to the residents of their hometown, the cold region of North British Columbia, Canada. Over half-a-century ago, the three brothers started what would become the premier auctioneer company in the heavy equipment industry; even though it all started with auctioning off furniture. It took them just three years of auctioning off excess inventory before, debts settled, the entrepreneurial spirit descended on them and they standardized what would eventually become a popular way of auctioning – no reserve price, no cap on the smallest entry bid, and no buy-backs from the original seller no matter how low his/her merchandise eventually sold for.
With this attractive triumvirate of rules, the Ritchie brothers would host local auctions for less than a decade before they expanded and switched their general inventory to heavy equipment after embracing the industrial sector ; breaking their own records for amount sold in a single day – which spurred them to take on heavy equipment selling full-time. Auctioneers and buyers all around the world took kindly to the Ritchie Brothers’ no-reserve policies, and business got to be so good they soon capitalized their fraternal relationship and established themselves as the Ritchie Bros. Auctioneers.
Auctions and Bidding in the Technological Age
With the emerging dominance of the Internet as pertains to business of all kinds, it was only a matter of time before Ritchie Bros. Auctioneers moved the bulk of its heavy equipment operation to cyberspace. It was a natural transition from trade shows, which themselves are benefiting tremendously from having a web presence. An online auction site naturally opens up their wares like heavy equipment, construction equipment, used farm equipment and any imaginable motorized equipment to a much larger audience, escaping http://www.rbauction.com  the confines of geography to a large extent.
The Ritchies Bros. Auctioneers haven’t lost their original personal touch with the migration to the web; indeed, the auctions are gigantic affairs conducted on site, where prospective bidders and buyers can still experience the classic bidding in person, or send a representative to the auction. Even more conveniently, all bidding can be done online at the precise time of the bidding, or bidders can use the proprietary software to bid through proxy prior to the auction.
The Ritchie Bros. Auctioneers are committed to their guests; they offer onsite painting of heavy equipment, express bidding options via prior arrangement, and even onsite repair services. Their inventory of expertise runs the gamut: generators, tractors, trailers, forklifts, huge excavators, dozers, diggers, cranes and more. Additionally, there are the brand names John Deere and Caterpillar equipment.
The Auction Event of the New Year
Ritchie Bros. Auctioneer will be holding a heavy equipment auction in Humble Texas  on February 6,7. It is open to all industries. Online bidding times have yet to be announced, and will be up on the auction website as soon as the details have been decided. Interested parties can familiarize themselves with the bidding terms & conditions before hand, as well as the specifics on delivery, pick up, deposit and payment, and other buyer services. Local representatives will make themselves available for questions regarding logistics and anything else from auction participants, and more information is available at the site, phone and fax numbers: 1-713-455520 (phone) and 1-713-4555270 (fax).