Ritchie bros auction

[steve706]

I went to the auction just down from my place yesterday and everything went at low prices,very low. I picked up a 3pth 6ft ferguson disk in perfect shape,3pth ditcher,and a 8000lb rated 3pth crane for all under four hundred total. The Ritchie bros did not live up to their reputation on this one. Tractors sold for a third of their value,even the newer stuff. One of the employees said it's been bad since last fall and they are only making money at their home yard sales. I just could not believe how cheap everything was going for. A field ready 16 row JD cornplanter could only get 1400.00 yet a 1992 polaris snowmobile that hasn't run since 2004 got 1300.00? Best thing was that the scrap man wasn't their so all the older stuff still has a chance. It was the best day I've had this year.

 

[MSJ from MN]

Thats what keeps me going to auctions.

It takes two to drive up a price. Sometimes the #2 man stays home.

 

[msb]

Location ?

 

[steve706]

It took place in huron county in sw ontario at a hog operation that closed down last fall. In total five area fams where involved.

 

[farmer boy]

What kind of tractors were there. I'm interested in seeing what kind of prices stuff got there. I can look it up in their website if I know the models #

 

[dhermesc]

It takes two to drive up a price. Sometimes the #2 man stays home.


Or he's broke.

 

[steve706]

The newer stuff was NH tv140,JD4640,NH8970,JD7700,JD6400,JD4960,4 versatiles 835,846,855,895. 2JD combines 9610,9510.Old ones where Allis C,Case Vac,and a old Ferguson. All the machines where in good condition with the Case and Ferguson restored with live pto's.

 

[MSJ from MN]

Good point!

 

[Bill in Colo]

What I like about richie bros is the no buy back or shill bidders. One of their top auctioneers used to sell cattle at the sale barn I used for years.

 

[720 lyle]

Ritchie Bros. Auctions are their own worst enemy. They have a big building and lot near Grand Forks ND that they spent big $ on, setting empty and rumor has it that they are trying to sell. They charged so many fees(yard, loading, buyer premiums, minimum bids and ect) They also would sell such big lots together. (such as 20 trucks at a time)

 

[Anonymous-0]

Ritchie Bros. is not hurting for money. They are an auction like any auction. If people don't bid or don't show up, there's nothing they can do. They don't have shill bidders and don't fool around for ten minutes to try and get another $10 like some auctioneers do. They certainly spend a lot on advertising and have excellent customer service. They don't sell big lots together. They will often put similar items together and give the high bidder the choice of which one(s) they want. They built a bunch of multi-million dollar facilities several years ago. Those facilities are often empty because they don't have a sale every week. It's about every month or 2 here. When they do have a sale it's in the millions. I did hear that they had some kind of problem with a few sites. Don't know if it was related to legal issues or what. Dave

 

[BIG ED]

I'm not doubting anything you say,but how do they keep "shills" from bidding?
Again,not doubting you,just wondering.

 

[farmer boy]

Ok thanks.

 

[TomH in PA]

Of course anyone with a number can bid. But an auctioneer knows if one of the bidders is only there to run up the prices and doesn't have to pay the fee on items they win (which is why they'll try so hard to get one more bid if the last bidder was the shill).

 

[kyplowboy]

I had luck like that a few years ago. Estate sale 3 miles from my house out in the sticks. Signs went up but nothing in the paper till the Sunday before and they just had a small add listing the house hold stuff. Didn't say anything at all in the add about farms stuff. My brother and I spent less than $300 between the two of us and I hauled stuff home for 3 days. We got mostly gates and fencing stuff and a few implemnets. Best I did that day was a pile of tobacco sticks that the auctioneer and the dead guys nephew thought was about 500, I bought for $5. When I bundled them up to sell them counted out 1852. My brother bought "contents" of a barn loft for $12.50 with out looking at it, turned out there was more walnut lumber up there than we could stack on my 16' trailer plus a bunch of old coke bottles, gallon jars, and whiskey jugs. He sold some of them for $30 before we left.