Auction sales – Why used equipment has become a management act

In addition to the purchase of new equipment and the use of rental in its various forms, managers and end users also invest in second-hand equipment. An evolution in their purchasing behaviour, encouraged, in particular by the rise of auctions. Explanations.

second hand equipment

The days when the purchase of second-hand equipment was “suffered” because it was not possible to acquire new equipment are over. These alternatives are now integrated into the range of solutions available to construction companies. The professionalization of the sector, with the arrival of experts in second-hand equipment sales at auctions, has contributed to this development. By offering a wide choice of equipment, all ranges combined, they attract a large number of potential buyers. They also guarantee attractive prices, for both the seller and the buyer. While “physical” auctions still have their unconditional supporters, their online version is progressing. In this format, they dematerialize the market, addressing a very large audience. A promise to sellers that encourages them to actively participate in each session. For example, the next auction organized on June 28 by Iron Planet, a company of the Ritchie Bros group, will offer more than 500 construction site equipment and industrial vehicles. At this level, it is the largest online auction in Europe of recent construction equipment, representing dozens of brands: hydraulic excavators on crawlers and wheels, wheel loaders, compactors, tractors, trucks, backhoe loaders, generators.

Priority auctions

The content has expanded, with ancillary services continuing to develop. Thus, bidders can choose to participate live from the park online via the website. Transactions are transparent and allow buyers to secure their purchases. Inspection reports are available on the organizer’s website for most items, which also benefit from the organizer’s equipment condition certification. If the auctions will officially only have the day of the sale, bidders can, upstream, make “priority auctions” online on many items. Another service offered, the company has a dedicated customer service available in several languages and can even help with the logistics of transporting purchases. Beyond an adjustment variable, second-hand equipment has become an act of management for operators seeking flexibility and reactivity. A fundamental trend on which Equippo relies to offer a multiservice offer to its customers. After a first auction that allowed us to set up the strategy and the auction platform, the company wants to develop a high quality service that will allow us to stand out from our competitors. Loading and unloading facilities that allow customers to
easily and quickly deliver and
remove machines are part of this ambition, as is the display and testing of the machines to ensure that they comply with the transparency policy.

Asset management

In line with this trend, Ritchie Bros, the world leader in “physical” and online auctions, has gradually become an expert in asset management and disposal, offering its clients a variety of solutions for the purchase and sale of capital goods with an online market offering monthly auctions and equipment condition certification, a regulated market offering numerous price and date options, an online sales announcement service and negotiated private sales. Asset management and liquidation, as well as financing and leasing solutions, complete these services.

Photo: The capital goods presented at the June 28 auction will be sold from various locations in Europe, including Ritchie Bros. auction sites in France, the Netherlands, Spain and the United Kingdom.