Records Smashed at Recent Geelong Ritchie Bros. Auction

Auction Results Commenti

Equipment on the ramp at Ritchie Bros. Geelong auction yard

Registration, lots and buyers all break record at Sep 12 auction

Ritchie Bros.’ Geelong auction in September was nothing short of exceptional. The September 12 unreserved live auction took a wrecking ball to multiple records for the Geelong site, including registrants, number of buyers and many more.

“We knew from the start that this auction was going to be a big one,” said Cody Watson, Regional Sales Manager. “Early consignments have a ‘flow-on effect’ to other sellers, and it gives the market plenty of time to inspect equipment and line up financing.”

Over 230 sellers turned to Ritchie Bros. to sell their equipment and trucks for the sale. Close to 3,000 customers registered for the event, marking a 22% increase on the previous record set in July 2017. Buyers (731) were up 7% from the previous record set in April 2017 and the lot count record was smashed with 1,645.

“The buyers had a great day out,” added Cody. “Both theaters were full. The car parks were full. Our first-time buyers couldn’t believe we were selling assets worth hundreds of thousands of dollars unreserved. But that’s what pulls in the crowds, and the market decides on the day the value of each asset sold.”

Big Assets Bring in big bucks in Geelong

Equipment lined up in Ritchie Bros. Geelong auction yard.

Among the top assets being sold was a 2014 Volvo FM13 8x4x4 tilt ray with crane that fetched an impressive $340,000, and a 2017 Kenworth T610SAR tipper truck that sold for $225,000. Prime movers were also popular, with a 2017 Western Star 48000FXB 6x4 going to the highest bidder for $185,000 and a 2015 Kenworth K299 big cab 6x4 commanding $160,000.

“When you get almost 3,000 buyers to a sale, you know you’re doing something right,” said Finlay Massey, Regional Sales Director. “No other auction company in Australia could put on an event like this. It’s the reason more people trust us to sell their assets than anyone else in the county. We don’t just provide certainty of sale, we bring the market.”

Buyers and sellers will have plenty of opportunity to experience Ritchie Bros. auctions like Geelong before the end of the year. The highly respected equipment auction company will be hosting live unreserved sales in Brisbane on Nov 7, Narita, Japan on Nov 20, Geelong on Nov 26 and Cambridge, NZ on Nov 28. Consignments are already being accepted for those upcoming auctions.

David Fanning, Business Unit Marketing Manager for Ritchie Bros., expects all the variables to successfully come together for those upcoming auctions the same way they did for Geelong.

“Web traffic, social media, PriorityBids – everything was indicating we were in for a huge day,” said David. “It was great to see so many site records tumble over the course of the day. Registrations, buyers, lots, sellers … the list goes on.”

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