teeroy
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lol...that's crazy! remember a few years back when people were paying 20% more than new for used scissornecks at the auctions? we made out good selling a couple of our old 40 tons.
Ritchie Bros sale
- Thread starter deaner
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powder junkie
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When u have work for it asap and its a few month wait for new iron as most trailers r built to order, then payn over new price isnt so bad
gates559
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People think since its at an auction their getting a deal. Combine that with people thinking Alberta is hurting right now. I dont see any deals at all. Tools, New vehicles, rvs, heavy equipment and housing are all holding up pretty well.
Same as Kijiji, I have sold more used junk on there for more money than I paid for it new, its unbelievable that people can be so foolish!
Same as Kijiji, I have sold more used junk on there for more money than I paid for it new, its unbelievable that people can be so foolish!
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- #44
article in today's Edmonton Journal about the April Sale: Ritchie Bros. says Nisku auction was its largest in Canada
rsaint
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Heard they made over 10m on the sale.
steveo10
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I believe Ritchie's gets 10% so 21.5mil. Not a bad payday
rsaint
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Was there today what a gong show 3.5hrs to pick up a frost tooth foe a excavator.
Stompin Tom
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Ritchies negotiates percentages for companies, if your a Joe Blow you pay 15% on lots over 2500 and 25% on lots under 2500. Its pretty easy to negotiate a fee of 10 to 12 percent if you have a few pieces, and in a major consignment there can be guarantees and lower percentages. With the guarantee they could actually loose money on some lots. All in all they will have made a very strong profit, no doubt.
Stompin Tom
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When I buy something from Ritchies in Edmonton I usually plan on picking it up in 7 to 10 days, saves allot of frustration in the yard.
rsaint
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Under 2500 is 7% what i paid.
rsaint
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On my invoice after 8 days a storage fee kicks in.
Stompin Tom
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I dont know if it makes a difference if your a local buyer or internet buyer, but my invoice said all items to be paid for in 7 days and picked up within 14 days. I do all my purchases online. I have never had a problem going 7 to 10 days after sale. I always pay for the purchase the day after the sale, that keeps them happy.
Lightningmike
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I heard people say at one of their sales in Lloyd that they charge both the buyer and seller 10%. Also not the first time I have heard that.
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rsaint
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I paid 7% on under 2500 for buying.
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- #55
I work part time at the sale. I heard they do charge both sides. Not sure of the %
Stompin Tom
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as per the website:
[h=3]Administrative fees for buyers[/h] Successful bidders are required to pay an administrative fee on each lot purchased (one fee per lot):
- 2.5% administrative fee for lots selling for more than 2,500, up to a maximum of 950 per lot (in the currency of the auction, or in the case of Japan, up to a maximum of 95,000 Yen for lots selling for more than 250,000 Yen).
- 10% administrative fee for lots selling for 2,500 or less (in the currency of the auction, or 250,000 Yen in Japan).
- This administrative fee applies to on-site, online and proxy purchases. There are no additional fees for online and proxy purchases.
- This administrative fee will be waived for purchases made in person at on-the-farm auctions.
freeflorider
Active VIP Member
If Ritchie bros are doing this and they sell realty stuff to I wounder how long before the realty company's jump on board? Cost to sell and buy...not worth buying a new home as most of your equity goes into there pocket.
doorfx
Active VIP Member
It used to be they charged a commission to the seller based on the value of the item
Stompin Tom
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They still do, but if they can charge the buyer 2% then they can make an extra 20% revenue .............................................. oh geez, not that again ..............................
doorfx
Active VIP Member
So it has increased by .....%? Lol
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