COVID-19 crisis creates pivot to online auction
ADAPTING to coronavirus social distancing advice has seen Ritchie Bros Auctioneers move 2,350 items with an estimated value in the tens of millions of dollars online, forming one of Australia’s largest construction and transport auctions.
The IronPlanet Super Auction, running March 30 to 31, will feature trucks, tractors, bulldozers and excavators that were to be sold at live auctions in Queensland (Yatala) and Victoria (Geelong), with more than 4,000 bidders onsite.
Ritchie Bros regional sales director Finlay Massey said the shift to an online super auction was an example of the organisation’s strategic response to the current coronavirus crisis.
“It’s a challenging environment right now but our teams globally are adapting to suit their unique markets so buyers can still obtain the gear they need to help keep vital projects moving forward,” he said.
Mr Massey acknowledged uncertain economic conditions but said equipment and machinery is still a much-needed commodity.
“At Ritchie Bros we’re already seeing businesses take advantage of the federal government’s $150,000 instant asset write off, as demand for gear remains strong across construction, transport, and the agricultural sector as farmers look to diversify their business operations.”
While a move to online is a big change for bidders accustomed to the wide-open lots of a live auction, Ritchie Bros is investing in the online experience so it will still allow customers to get a true sense of the product they’re browsing and buying.
The IronPlanet Super Auction is a two-day event held.
Day one is construction items and Day two is Transport and Agriculture.
Bidding is open now and will close before the auction begins.
Ritchie Bros Brisbane and Geelong yards are open for inspections every day until March 31.