The first Ritchie Bros. auction in Dubai this year will be held on 10–11 March 2020 in Jebel Ali Free Zone.
Over the coming weeks prior to the auction, Ritchie Bros. will release a a video series titled ‘Ritchie Bros. inspects!‘ which will provide best tips to inspect equipment.
Many businesses grapple with the decision to buy new or used machinery. Both options have their advantages, but from an economic stand point, buying a good used machine can be very interesting. After narrowing down the choice in offering, how does one evaluate if a machine is good for the job at hand? What are the key points to look at when inspecting an excavator, wheel loader or other machine? Selling hundreds of thousands of equipment items and trucks every year, Ritchie Bros. is an expert when it comes to inspections and evaluation.
The auction will feature the recently introduced PriorityBid feature which enables buyers to make proxy bids online for items in its live auctions up to a week before the sale. The PriorityBids put buyers first in line to win the item, provided no one outbids them. The system works as follows: buyers submit a maximum bid and the PriorityBid system will bid the lowest amount required for them to win, up to their maximum bids. Bids are confidential and the system will only raise a buyer’s bid if someone outbids the buyer. If the buyer is outbid, he or she receives an email notification. In the case of a tie, the first bid placed wins.
The previous Ritchie Bros. auction in Dubai on 10–11 December 2019 attracted 74 bidding countries and 46 buying countries; 60% of the bidders registered online. The auction featured a range of heavy equipment and vehicles including dozers, loaders, graders, excavators, mobile cranes, and trucks. The top assets in terms of value of lots purchased were wheel loaders, hydraulic excavators, and motor graders; 1663 assets were sold at the auction, and 40% of the sales came from outside the UAE.
