Tag Archives: Karl Werner

Ritchie Bros shifts to online auctions on sustained demand for heavy equipment

Mining equipment, Mining services, , ,

While many are isolating at home during the COVID-19 pandemic, Ritchie Bros says the world of heavy equipment auctions is still turning.

The industry leader has taken all its auctions online and has so far seen very little change in anticipated demand – or selling price levels – for secondhand construction and agricultural machines over the last few months, it said. The company also sells mining equipment through its auction marketplace.

Karl Werner, International President at Ritchie Bros, said: “Despite these uncertain times, we’re hearing from customers that there is still lots of work going on in the world – maintaining highways, power and telecommunications, water and sewerage systems, as well as transporting groceries and medicines – and we provide the equipment to companies delivering these essential services.

“The regular in and outflow of fleet management does not stop, and we’re here to help with a variety of sales solutions and contract options to suit any need.”

Over its 62-year history, Ritchie Bros has become a trusted advisor in the industry, with millions of clients around the globe counting on the valuable insight it provides, it says.

“We have accumulated a huge amount of market and selling price data – on equipment types, makes and models, and manufacturing years – that we leverage to our clients’ advantage,” Werner said. “Using this data and our experience, we will recommend the right time and place to sell – whatever is going on in the world.”

Beyond keeping its auctions and marketplaces up and running, Ritchie Bros says it has demonstrated its commitment to sellers during these challenging times by offering several flexible selling options to ease cash flow. Most notably, it has an advance payment option, where sellers can provide funds in advance against the expected sale price for equipment, if a seller does not wish to wait until the next scheduled auction.

“Our vast experience of buying and selling equipment around the world means we can estimate equipment value with a high degree of accuracy. Final sale prices are usually within a small range of our expectations,” Werner says. “That allows us to offer customers the option of drawing funds in advance of a sale with an advance payment or using another of our bespoke selling options. We’re seeing in these times there is more need for services like this.”

In addition to advance payment services, sellers can also transfer ownership directly to Ritchie Bros to limit administration around the sale. Equipment owners can receive individual selling advice by talking with a Ritchie Bros representative, who, the company says, will establish the best disposition choice for them.

“Naturally, there is some uncertainty at the moment, but we want to reassure our clients and discuss options that will give them the best outcome for their business now and in the long term,” he concludes.

Komatsu Europe and Ritchie Bros enter used equipment partnership

Mining equipment, Mining services, Mining software, , , , , , ,

Komatsu Europe has signed up Ritchie Bros’ cloud-based SaaS solution, RB Asset Solutions, to help better manage its assets internally and remarket its used equipment.

RB Asset Solutions brings together a suite of tools and services to help customers better manage, analyse, and sell their assets, Ritchie Bros says, adding that Komatsu will use the service in coordination with its redesigned and mobile-friendly website: used.komatsu.eu.

Giovanni Guidi, who is responsible for the project at Komatsu Europe, said: “We have developed a strong relationship with Mascus over the years; the services and tools included with the RB Asset Solutions platform will give our dealers full control over their stock and optimise used equipment sales.

“We’re excited about all the internal, user-friendly tools that come with RB Asset Solutions to make us more efficient and create an online community for all our dealers handling used equipment sales around Europe.”

As an RB Asset Solutions customer, Komatsu Europe is equipped with a complete inventory management system accessible by all Komatsu Europe dealers, allowing them to manage their stock and publish used equipment to various sales channels, including their own individual dealer site, used.komatsu.eu, Mascus.com, or any other Ritchie Bros sales channel, according to Ritchie Bros.

The used.komatsu.eu website, which was recently redesigned by the RB Asset Solutions team, is available via desktop and as a mobile app. Equipment can be searched and filtered by potential buyers by equipment type, manufacturer, hours/usage, location, price, etc, Ritchie Bros said.

“Additional data and multilingual marketing tools are also a part of the RB Asset Solutions package, helping Komatsu Europe better understand when and how to sell and advertise their assets to the world,” the company added.

Karl Werner, President, International, Ritchie Bros, said: “We are extremely proud to have Komatsu, the second largest worldwide manufacturer of construction, mining and utility equipment, select RB Asset Solutions to grow visibility for its used equipment stock in over 20 European countries. We are so happy to see the tools and services included with RB Asset Solutions are already helping many OEMs and other large companies around the world.”