Even before the new reality, Ritchie Bros. generated 70 percent of its turnover from online bids. In Germany, Austria and Switzerland, online is now also the sales channel that is experiencing a boom for used construction machinery. Matthias Ressel, Sales Manager Construction Machinery for the D/A/CH region at Ritchie Bros. knows why this is the case.

According to the sales professional, buying and selling a machine safely without always having to travel long distances is the formula for the success of digital sales channels. "This is the new reality. I am convinced that there will be no turning back here." Nevertheless, interested parties can still inspect the items for sale on the global auction sites. The new reality will not change this.

It wasn't just buyers and sellers who adapted quickly. Ritchie Bros. also managed to completely digitalize its infrastructure in a very short space of time. The company had been hybrid since 2002. It was also possible to take part in every auction as an online bidder. Many took advantage of this. At the start of the pandemic, the company discontinued its live auctions worldwide and switched completely to e-commerce in a very short space of time.

The results are enormous: when Ritchie Bros. moved its services entirely online from March 2020, the number of participants increased by 40 percent. The results for 2020 are clear: Ritchie Bros. registered 1.2 million bidders from more than 150 countries (+44.1% vs. 2019) and sold over 450,000 machines.

Knowing where to sell best

These figures show that timed auctions, which are held without a minimum bid, are highly relevant for bidders. Matthias Ressel knows exactly in which country you can achieve the best price with which machine on which auction date. "This is one of the most important points in our consultations," reports the sales manager, "because bidders are looking for this certainty." This is guaranteed by the e-commerce platform with a huge database, which Ritchie Bros. has developed further in recent years using digital tools and artificial intelligence.

In addition to knowing the current market value, aspects such as the origin of a construction machine are also decisive, according to Ressel. Well-maintained construction machinery from the D-A-CH region is in demand internationally. Construction machinery owners who want to sell their machine safely benefit from this in-depth insider knowledge. "With our intelligent technology, we advise the seller strategically and achieve the best possible price on the market," explains the sales professional.

It is positive experiences like these that underpin the trust of suppliers and sellers in the digital marketplaces from Ritchie Bros. and thus transform the "online emergency solution" into a sustainable model. Alternatively, those who do not want to do without a minimum price can offer their machines on the Ritchie Bros. platform Marketplace-e at any time. Vendors can manage their own sales there and sell their items conveniently from their own location with a minimum price.

The trend towards online sales continues unabated. This was recently demonstrated by another record turnout at an online time auction at the Ritchie Bros. site in Moerdijk, the Netherlands. More than 2000 bidders from over 110 countries took part. Sales Director Matthias Ressel's conclusion is clear: "The new reality is a win-win situation for everyone involved."