Ritchie Bros sale

Stompin Tom · Aug 13, 2017

"Clear title – or your money back

We identify and arrange for the release of any liens or encumbrances on the equipment we sell. If we can't deliver clear title, we offer the buyer a full refund of the purchase price. That means the equipment is ready to be put straight to work—for you."

https://www.rbauction.com/buying

I deal with Canadian Western Bank for equipment, they will finance immediatly on Ritchies purchases because they guarantee a clean lien on day of sale. It is their reputation, they wont screw with it.

SnowJunkie82 · Aug 13, 2017

Stompin Tom said:
"Clear title – or your money back

We identify and arrange for the release of any liens or encumbrances on the equipment we sell. If we can't deliver clear title, we offer the buyer a full refund of the purchase price. That means the equipment is ready to be put straight to work—for you."

https://www.rbauction.com/buying

I deal with Canadian Western Bank for equipment, they will finance immediatly on Ritchies purchases because they guarantee a clean lien on day of sale. It is their reputation, they wont screw with it.

I bought a used Ag Tractor from a Ritchie farm sale in the spring of 2016. When I went to finance it through AFSC it came back with a lien. It took quite a bit of effort to get it cleared off. Ritchie was fairly helpful and most the issue was with CNH who the previous owner had it financed through. Was over 2 months from the sale date to when the title was clear. I wasn't upset with Ritchie and have bought more stuff through their sales since, but never once was there an offer to get my money back. That said I wanted the tractor and likely wouldn't have given it back as I felt I got a good buy on it.

Stompin Tom · Aug 13, 2017

SnowJunkie82 said:
I bought a used Ag Tractor from a Ritchie farm sale in the spring of 2016. When I went to finance it through AFSC it came back with a lien. It took quite a bit of effort to get it cleared off. Ritchie was fairly helpful and most the issue was with CNH who the previous owner had it financed through. Was over 2 months from the sale date to when the title was clear. I wasn't upset with Ritchie and have bought more stuff through their sales since, but never once was there an offer to get my money back. That said I wanted the tractor and likely wouldn't have given it back as I felt I got a good buy on it.

A similar incident I ran into a few years ago was when I bought a logging trailer, Ritchies had a letter from a private lending group stating that the lien had been paid out and the trailer had a clear title. But the lender never bother to remove the actual lien after issuing the letter. I go to relist, the lien was still levied against the equipment, Ritchies got ahold of the original lien holder and issuer of the letter and got the matter cleared. Because they had the statement of release from the finance company there was no problem getting it released, it boiled down to poor attention to detail from the private lender or them simply to lazy or cheap to do the paper work properly as they had stated they would do. Liens can be a real bitch, and due diligence must be done. Some lenders feel that simply sending the release letter is good enough, but that is not so.

There is a time frame that it takes to get a lien cleared through the proper channels, and because your dealing with the government it can be slow, that is why it is so important to get a clearance letter from the person holding the lien.

Cyle · Aug 30, 2017

Had RB come out, was not very impressed to say the least. To start off 15 minutes after he was suppose to show up he called me to say he'd be an hour late. Anyways they want 11% commission and that's it won't budge, if I wanted a guarantee, it would be 13% and they'd take 40-60% of anything above it, yea no thanks

Their "estimate" of what it will sell for is a joke. He gave me numbers for each piece on it's own then I asked all together and he said between $100k-$170k. How the fawk can you have such a range? All he did was go off of sold prices and guess, I figured they would be quite knowledgeable about equipment and have a really good idea, not a range that is a waste of time. And the individual numbers bottom amount added up to well above $100k not much trust there when your math is that bad....... That number just turned me off. I want to sell my equipment, not let someone steal it. If I only wanted $100k i'd post on kijiji and have 10 buyers here with cash the next day. And saying such a low number just gave me a feeling like maybe they want to set my hopes low and buy it themselves to resale for profit or something. Just seemed off. I mean if I did sell there I would be onsite watching everything sell, and if my items were rifled through and they weren't getting the potential out of them i'd buy them back and deal with them after, but not exactly something I want to deal with.

Got Michener's coming out in the morning, sounds much better. First number he threw out was 8%, which is more realistic and there is more room to move there. Didn't realize I know someone who's dad works there, so they are going to cut me a really good deal.

S.W.A.T. · Aug 30, 2017

Cyle said:
Had RB come out, was not very impressed to say the least. To start off 15 minutes after he was suppose to show up he called me to say he'd be an hour late. Anyways they want 11% commission and that's it won't budge, if I wanted a guarantee, it would be 13% and they'd take 40-60% of anything above it, yea no thanks Their "estimate" of what it will sell for is a joke. He gave me numbers for each piece on it's own then I asked all together and he said between $100k-$170k. How the fawk can you have such a range? All he did was go off of sold prices and guess, I figured they would be quite knowledgeable about equipment and have a really good idea, not a range that is a waste of time. And the individual numbers bottom amount added up to well above $100k not much trust there when your math is that bad....... That number just turned me off. I want to sell my equipment, not let someone steal it. If I only wanted $100k i'd post on kijiji and have 10 buyers here with cash the next day. And saying such a low number just gave me a feeling like maybe they want to set my hopes low and buy it themselves to resale for profit or something. Just seemed off. I mean if I did sell there I would be onsite watching everything sell, and if my items were rifled through and they weren't getting the potential out of them i'd buy them back and deal with them after, but not exactly something I want to deal with.

Got Michener's coming out in the morning, sounds much better. First number he threw out was 8%, which is more realistic and there is more room to move there. Didn't realize I know someone who's dad works there, so they are going to cut me a really good deal.

PM sent

TylerG · Aug 30, 2017

Cyle said:
Had RB come out, was not very impressed to say the least. To start off 15 minutes after he was suppose to show up he called me to say he'd be an hour late. Anyways they want 11% commission and that's it won't budge, if I wanted a guarantee, it would be 13% and they'd take 40-60% of anything above it, yea no thanks Their "estimate" of what it will sell for is a joke. He gave me numbers for each piece on it's own then I asked all together and he said between $100k-$170k. How the fawk can you have such a range? All he did was go off of sold prices and guess, I figured they would be quite knowledgeable about equipment and have a really good idea, not a range that is a waste of time. And the individual numbers bottom amount added up to well above $100k not much trust there when your math is that bad....... That number just turned me off. I want to sell my equipment, not let someone steal it. If I only wanted $100k i'd post on kijiji and have 10 buyers here with cash the next day. And saying such a low number just gave me a feeling like maybe they want to set my hopes low and buy it themselves to resale for profit or something. Just seemed off. I mean if I did sell there I would be onsite watching everything sell, and if my items were rifled through and they weren't getting the potential out of them i'd buy them back and deal with them after, but not exactly something I want to deal with.

Got Michener's coming out in the morning, sounds much better. First number he threw out was 8%, which is more realistic and there is more room to move there. Didn't realize I know someone who's dad works there, so they are going to cut me a really good deal.

Throwing in the towel on equipment or upgrade time Cyle?

Cyle · Aug 31, 2017

TylerG said:
Throwing in the towel on equipment or upgrade time Cyle?

Getting rid of some. Having two track hoes, end dump, tractor, and step deck doesn't make sense when i'm the only one running everything, and still doing some concrete on top of it. No money to be made trying to do too many different things. And people digging basements are doing it for nothing right now, can't be bothered to move equipment for what many are charging. And people are still fawking complaining when the bill comes. One job 30 days ago, still owes me money, around 3 weeks ago. Rates are bad enough, worse when people are trying to screw you over once the works done and get out of paying.

Won't point fingers at the worst culprits but they wear turbans. Not to sound racist but I will not do another job for any of them. Always trying to cut your rates and screw you over.

Less stress and more money just running my mini hoe and buying a skidsteer to go with it.

Cyle · Sep 11, 2017

Well i'm finding out the no lien thing is BS with Ritchies. There is still a lien on the track ho from the previous owner causing me problems trying to sell it now, the bank holding it isn't responding for requests to remove it nor is RB responding to Michener's requests to them to get it removed, and Michener's doesn't trust RB bill of sale as good enough to consider lien satisfied as they've said they've had issues with liens with them before. Now it might not sell on thursday. RB is also refusing to send Michener's or me a payout amount on the equipment and rightly they won't sell it without it. Called National Leasing and RB Financial each probably 5 times in the last week trying to get a payout, nothing. Not frigging happy. Will never ever deal with Ritchie's in any capacity again. Hope it all gets figured out tomorrow sent them both a very strongly worded email to say the least, but not holding my breath. Michener's pulled the items from the sale for now, so the chance they will see good value is lower because no one will know if they are selling or not. I'm at the point of telling Michener's to do whatever the fawk they want with the equipment, I will just get lawyers involved to recover my equity.

Tchetek · Sep 11, 2017

Cyle said:
Well i'm finding out the no lien thing is BS with Ritchies. There is still a lien on the track ho from the previous owner causing me problems trying to sell it now, the bank holding it isn't responding for requests to remove it nor is RB responding to Michener's requests to them to get it removed, and Michener's doesn't trust RB bill of sale as good enough to consider lien satisfied as they've said they've had issues with liens with them before. Now it might not sell on thursday. RB is also refusing to send Michener's or me a payout amount on the equipment and rightly they won't sell it without it. Called National Leasing and RB Financial each probably 5 times in the last week trying to get a payout, nothing. Not frigging happy. Will never ever deal with Ritchie's in any capacity again. Hope it all gets figured out tomorrow sent them both a very strongly worded email to say the least, but not holding my breath. Michener's pulled the items from the sale for now, so the chance they will see good value is lower because no one will know if they are selling or not. I'm at the point of telling Michener's to do whatever the fawk they want with the equipment, I will just get lawyers involved to recover my equity.

Shat!

S.W.A.T. · Sep 11, 2017

Cyle said:
Well i'm finding out the no lien thing is BS with Ritchies. There is still a lien on the track ho from the previous owner causing me problems trying to sell it now, the bank holding it isn't responding for requests to remove it nor is RB responding to Michener's requests to them to get it removed, and Michener's doesn't trust RB bill of sale as good enough to consider lien satisfied as they've said they've had issues with liens with them before. Now it might not sell on thursday. RB is also refusing to send Michener's or me a payout amount on the equipment and rightly they won't sell it without it. Called National Leasing and RB Financial each probably 5 times in the last week trying to get a payout, nothing. Not frigging happy. Will never ever deal with Ritchie's in any capacity again. Hope it all gets figured out tomorrow sent them both a very strongly worded email to say the least, but not holding my breath. Michener's pulled the items from the sale for now, so the chance they will see good value is lower because no one will know if they are selling or not. I'm at the point of telling Michener's to do whatever the fawk they want with the equipment, I will just get lawyers involved to recover my equity.

Cyle, everything thing I have mentioned before about RB is factual. We have spent a great amount of time paying people to investigate things of that nature. I know a couple people here have tried to discredit me on it but obviously you are learning the hard way. Sorry to hear.

Cyle · Sep 11, 2017

S.W.A.T. said:
Cyle, everything thing I have mentioned before about RB is factual. We have spent a great amount of time paying people to investigate things of that nature. I know a couple people here have tried to discredit me on it but obviously you are learning the hard way. Sorry to hear.

Yea it's pretty bad. Got a reply from a supervisor "We'll look into it tomorrow and try to correct it if we made a mistake". Yea you made a mistake, you sold a item and didn't get the lien removed.... I believe it, they are horrendous to deal with.

Mike270412 · Sep 12, 2017

Cyle said:
Yea it's pretty bad. Got a reply from a supervisor "We'll look into it tomorrow and try to correct it if we made a mistake". Yea you made a mistake, you sold a item and didn't get the lien removed.... I believe it, they are horrendous to deal with.

Plus they are bazillionaires and aren't going to lose any sleep over a little guy like you. Sad but true.

niner · Apr 22, 2018

Was at Ritchie’s today.

freeflorider · Apr 23, 2018

I think that ss was donated for a charity cause. Should fetch a good buck.
How was the trip?

niner · Apr 27, 2018

Elcamino went for $70000.

steveo10 · Apr 28, 2018

I was wanting that C10. Went for $16,000

Cyle · Jun 12, 2018

Is it just me or was there some pretty good deals today? Wasn't there so no idea if it's just a lot of junk, but considering going tomorrow because of some of the prices i'm seeing might make it worthwhile. Totally one of those things were if I don't go, I will miss a good deal. And if I go, stuff will go stupid....

pfi572 · Dec 14, 2019

Anyone at the sale the last couple days .
Heard things went reasonable but haven’t confirmed.

freeflorider · Dec 14, 2019

pfi572 said:
Anyone at the sale the last couple days .
Heard things went reasonable but haven’t confirmed.

My thoughts Were things went for ok money, I was expecting way lower prices. Some good buys and some not so good. Was paying attention to the log loader stuff and the 2018 Deere went cheap as did most of Dickinson logging stuff did. Maybe a little to cheap. All and all no smoking give a ways, well not yesterday anyways.

kanedog · Dec 15, 2019

Cyle said:
Had RB come out, was not very impressed to say the least. To start off 15 minutes after he was suppose to show up he called me to say he'd be an hour late. Anyways they want 11% commission and that's it won't budge, if I wanted a guarantee, it would be 13% and they'd take 40-60% of anything above it, yea no thanks Their "estimate" of what it will sell for is a joke. He gave me numbers for each piece on it's own then I asked all together and he said between $100k-$170k. How the fawk can you have such a range? All he did was go off of sold prices and guess, I figured they would be quite knowledgeable about equipment and have a really good idea, not a range that is a waste of time. And the individual numbers bottom amount added up to well above $100k not much trust there when your math is that bad....... That number just turned me off. I want to sell my equipment, not let someone steal it. If I only wanted $100k i'd post on kijiji and have 10 buyers here with cash the next day. And saying such a low number just gave me a feeling like maybe they want to set my hopes low and buy it themselves to resale for profit or something. Just seemed off. I mean if I did sell there I would be onsite watching everything sell, and if my items were rifled through and they weren't getting the potential out of them i'd buy them back and deal with them after, but not exactly something I want to deal with.

Got Michener's coming out in the morning, sounds much better. First number he threw out was 8%, which is more realistic and there is more room to move there. Didn't realize I know someone who's dad works there, so they are going to cut me a really good deal.

I called Ironplanet which is owned by Ritchie Bro’s. I told them the make/model/condition/hours of three pieces of large equipment. He said he needed to come out to determine a price. He proceeded to tell me I wanted too much, the equipment is not worth as much as I think, but I hadn’t even said a price yet!

I said I don’t wanna waste my time meeting when we can agree to a price rt now. After all it is Ironplanet, an online buy and sell site right?

The dude says I gotta go through the process and meet.

I had to ask three separate times “who decides the listing price for my equipment?”
He finally answers and says “I do.”

I said “nice talking to you” and hung tf up. Waste of a few hours. What a buncha crooks.

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