Bidding and Buying: Frequently Asked Questions
Buying through Ritchie Bros.
Q.I've found something I want to buy on the Ritchie Bros. web site. How do I buy it? [ View Answer Hide Answer ]
We sell everything by unreserved auction. If you're interested in buying an item in one of our auctions, you must first register to bid. You can bid in person at the auction site, online in real time, or by proxy. We don't sell any items in advance of the auction, and every item sells to the highest bidder on auction day, regardless of price.
Get pre-approved auction financing through Ritchie Bros. Financial Services and be ready to bid on auction day (currently available in the U.S. and Canada).
Q.What does unreserved mean? [ View Answer Hide Answer ]
Unreserved means there are no minimum bids or reserve prices on items being sold at an auction. As a result, every item sells to the highest bidder on auction day, regardless of price. Every Ritchie Bros. auction is unreserved. Find the meaning of other common auction terms.
Q.How can I be sure that the owner isn't pushing up the price at the auction? [ View Answer Hide Answer ]
Ritchie Bros. forbids owners and their agents from bidding on or buying back items they are selling at our auctions, so you can be confident that only legitimate bidders are placing bids. At Ritchie Bros. auctions, bidders set the prices – not sellers.
Q.Can I buy an item before the auction? [ View Answer Hide Answer ]
No: we don't sell any items in advance of the auction. Every item is sold to the highest bidder on auction day. If you can't make it to the auction site on auction day, you can bid online in real time or place a proxy bid in advance.
Bidding at an auction
Q.How can I bid at Ritchie Bros. auctions? [ View Answer Hide Answer ]
Most people choose to bid in person at the auction site. If you can't make it to the auction site on auction day, you can bid online in real time or place a proxy bid. Find out more about bidding.
Q.I can't make it to the auction site on auction day. How can I buy the item I'm interested in? [ View Answer Hide Answer ]
Q.Who can bid at Ritchie Bros. auctions? [ View Answer Hide Answer ]
Anyone can bid at Ritchie Bros. auctions. Our auctions are open to the general public and registration to bid is free.
Q.Which languages does Ritchie Bros. conduct auctions in? [ View Answer Hide Answer ]
The primary language of our business is English. Our auctioneers speak and conduct our auctions in English, although we do use electronic signboards at some auctions to display the current ask price to help our non-English speaking customers follow the bidding.
We also provide multilingual customer service support at our auction sites in non-English speaking countries.
Our online bidding service is currently available in English, French, Spanish, Italian and German.
Deposits, payments and fees
Q.Do I have to pay to register or place a deposit before I bid? [ View Answer Hide Answer ]
There is no charge to register to bid or to place bids at Ritchie Bros. auctions. Depending on your history with Ritchie Bros. and the location of the auction, you may be required to submit a refundable deposit before you bid. Look under the auction details on our web site for more information.
Q.Will my bid deposit be refunded if I am not a successful bidder? [ View Answer Hide Answer ]
Yes. If you placed your deposit by Visa or MasterCard using our Online Payment Service, an authorization or hold was placed on your credit card. This hold will be automatically lifted by your credit card provider if you were not a successful bidder.
If you placed your bid deposit by wire transfer and you are not a successful buyer, your deposit will be refunded in the same currency in which it was received by Ritchie Bros., less wire transfer fees. No currency exchange fees or interest will be paid to you by Ritchie Bros. Auctioneers.
Q.What currency does Ritchie Bros. conduct auctions in? [ View Answer Hide Answer ]
You can find the currency of a specific auction u the auction details on our web site. In general, we conduct auctions in the following currencies:
|United States||U.S. dollars|
|Europe – except United Kingdom||Euros|
|United Kingdom||Pounds sterling|
|Dubai UAE||U.S. dollars|
Q.How can I pay for my purchases? [ View Answer Hide Answer ]
Payment options depend on where the auction is conducted and whether you are bidding on-site or online. You can find the payment options under Deposit and Payment Information under the details on our web site.
Online buyers can pay by Visa or MasterCard (using our Online Payment Service) for most Ritchie Bros. auctions, or by wire transfer. All wire transfer fees incurred are at your own expense. A 3% fee (payable to iClosing, our service provider) applies to all credit card payments. Find out more about paying by credit card.
What happens after the auction?
Q.I was a successful buyer. When can I collect my equipment? [ View Answer Hide Answer ]
I was a successful buyer. When can I collect my equipment?
You can collect your equipment once you have paid for it in full and received approval from the auction site to remove your item. If you paid by non-certified funds, we will not release your purchase until the funds have cleared our bank. Load-out procedures differ at each auction site; in general, equipment can be removed during site hours of operation. Check under the auction details on our web site or contact the auction site for more information.
Q.Does Ritchie Bros. offer transportation of equipment from the auction site? [ View Answer Hide Answer ]
In most areas, you can get real-time shipping estimates and competitive quotes through the online shipping service on our web site. We also invite approved transportation companies to our auctions so you can make arrangements at the auction site.
Q.What happens if I buy a piece of equipment and I'm not satisfied with my purchase? [ View Answer Hide Answer ]
At Ritchie Bros. we sell every item "as is, where is." Every bid is final and irrevocable; if you place the highest bid, you are the new owner of that item and you are responsible for repairs, maintenance and insurance from that point on. We don't offer refunds and we make no warranties or guarantees about the equipment we sell. We encourage our customers to visit the auction site to test and inspect any item they are interested in buying before they bid. You can even send a mechanic to do the inspection for you.
Protect your investment! We offer optional powertrain service warranties on select equipment sold at our auctions (currently in the U.S. and Canada). We also offer low-cost cargo and on-site property insurance for your equipment (most regions).
Credit card transactions
Q.I paid by credit card at a Ritchie Bros. auction and have noticed an error on my credit card statement. Who do I contact to have it rectified? [ View Answer Hide Answer ]
Ritchie Bros. Auctioneers does not process credit card transactions. We have partnered with Optimal Payments to offer this service to our customers. If you notice an error on your credit card statement, first contact your credit card company. They may be able to resolve the issue for you. If not, please contact Optimal Payments at www.OptimalPayments.ca.
Q.I paid by credit card at a Ritchie Bros. auction and noticed there are two transactions on my credit card: one to Ritchie Bros. Auctioneers and another one to iClosing Services. Who is that? [ View Answer Hide Answer ]
Ritchie Bros. Auctioneers does not process credit card transactions. We have partnered with Optimal Payments to offer this service to our customers. Optimal Payments applies a 3% iClosing fee to every credit card transaction. On your credit card statement this fee appears separate from the payment to Ritchie Bros., which is equal to your bid plus any applicable taxes and other fees.