Here’s why people like Timed Auctions
BuyingNovember 23, 2023
As equipment supply is increasing and demand is normalizing, 2024 is generally expected to be a great year for finding and buying equipment. You might find the item you need in an online marketplace, a listing website, or an auction. Ritchie Bros.’ Timed Auctions are a great way to find and buy machines at a good price, and in this article, you’ll discover why.
|What are Timed Auctions?
At Ritchie Bros., we introduced our Timed Auctions in 2011. It is an easy-to-use online auction system that allows bidding from our website or mobile app. Lots are part of an auction event and located at one of our sites, for example, in Moerdijk (The Netherlands) or Caorso (Italy). Bidding on lots is open for several days and closes at staggered times on a set day. The Timed Auction system notifies you when you’re in the lead or when you’re outbid. It’s easy and fun!
Here’s what makes Timed Auctions fun and easy:
1. Bid at your own pace
Live auctions can be exciting, but bidders need to make decisions in the blink of an eye. With Timed Auctions, the bidding is open for several days, so you can bid and win items without the distractions and pressure of a fast-paced live auction.
2. Join from anywhere
Bid on your own terms. No matter where you are and what device you prefer to use, Timed Auctions are just a click away. Using your laptop, smartphone, or tablet, you can easily access our website or free mobile app to start bidding. You can go into the auction at any time or place.
3. An auction system you can trust
The Timed Auction system never misses a bid and shows you the status of each lot in real time. There are no reserve prices on the lots sold, making it a level playing field for all bidders – regardless of where they are from and what language they speak. With this level of transparency, you can bid with full confidence, knowing that all bids and other bidders are legitimate.
4. Let the system bid for you
With our Timed Auctions, you choose to bid manually, or you can set a maximum bid and let the system do the bidding on your behalf. A particularly interesting feature when you’re busy with other things or bidding on multiple lots in the auction.
5. Let the system keep you updated
Stay up to date on the auction by adding items to your personal watchlist. You can also enable email and/or text notifications if you have been outbid or if an item was sold to you.
|Find your favorite bidding strategy and get more out of the auction
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