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Ritchie Bros. auctions expect increased online participation in wake of COVID-19 concerns

Vancouver – Information is moving fast and so is Ritchie Bros. With concerns about large gatherings growing around the world due to the COVID-19 pandemic, many trade shows and events have been cancelled. Ritchie Bros. will continue to conduct regular onsite auctions, with minor, temporary changes to the process and procedure of those events due to its online bidding system and mobile applications.

Ritchie Bros. will follow all local legislation on limiting onsite attendance to maintain the safety of all its customers and employees. Instead of bidding in person, the company is encouraging customers to participate online or via its mobile application. An auctioneer will still be used to conduct all Ritchie Bros.’ onsite auctions, but all equipment and trucks will be sold virtually.

“The safety of our customers and employees is our first priority,” said Ann Fandozzi, CEO, Ritchie Bros. “The demand for equipment right now is high—as witnessed by the strong pricing we’ve seen in all our recent events. With our online bidding technology, we can keep the market moving while simultaneously keeping people safe.”

Today upwards of 78 per cent of winning bids in Ritchie Bros. live auctions are made online. Additionally, due to new efforts to drive online demand, Ritchie Bros. has seen visits to rbauction.com and web account creations increase by 15 per cent and 19 per cent respectively. Ritchie Bros. mobile application users have also risen drastically, up 90 per cent year over year.

“If you do not have an online bidding account, we encourage you to set one up—it’s easy and we have a customer service team available to handle any questions you may have,” Fandozzi continued.

For a complete list of upcoming Ritchie Bros. auctions, visit rbauction.com/auctions