Latest News

Ritchie Bros’ bidding app boosts sales globally

The recent introduction of mobile app bidding together with increased international bidder interest at Ritchie Bros. online auctions in Dubai continues to drive strong results for consignors globally.

At the company’s recent auction held on June 21 and 22, 2022, the world’s largest asset management and disposition company, sold over 1,800+ items through its Dubai auction site to online buyers worldwide, recording the highest number of buyers and sellersin the past five years for May/June auctions.

With a larger range of sports utility vehicles and pickup trucks consigned, the June online auction also recorded the highest number of lotsin five years for May/June auctions. Overall, the most sought-after brands were Caterpillar, Toyota, Komatsu, Volvo, and JCB.

The two-day June auction attracted more than 1,080 registered bidders, all participating online from the UAE and around the Middle East region, including Saudi Arabia, Jordan, Egypt, and Kuwait. International bidders participating online from further afield were registered in the US, Canada, The Netherlands, Australia and the UK, demonstrating the ever-increasing global reach of Ritchie Bros.’ online Timed Auction format.

Top performing equipment categories: 

  • SUVs & Pickups
  • Rough Terrain Cranes
  • Crawler Tractors
  • Gen Sets
  • Articulated Dump Trucks

Some of the highlights of the online auction included:

  • 2020 XCMG QY160K-1 12x6x8 Hydraulic Truck Crane sold for $217,500
  • 2016 CAT D8R Crawler Tractor sold for $192,500
  • 2008 Komatsu PC1250-8R Hydraulic Excavator sold for $167,500

By adding in-app bidding functionality to the Ritchie Bros. mobile app, the company is aiming to make buying online easier than ever, with well over 3,500 in-app bids recorded at the June online Timed Auction.

Digital marketing campaigns and a range of online innovations including the app were key contributors to the auction’s success. International bidder interest saw an upswing with over 56,600+ online searches recorded during the June auction period, confirming the widespread acceptance of online auctions in the transportation and heavy equipment sectors.

Ritchie Bros. continues its transition from auction company to leading global marketplace for insights, services, and transaction solutions. Besides best-in-class auctions the company offers a suite of solutions, including a fast-growing online marketplace called Marketplace-E; and Ritchie Bros. Asset Solutions, an online inventory management solution that allows equipment owners to track, valuate, and sell their assets with easy workflows and more.

Opinion

Read more opinions >