rbauctionBid-Live F.A.Q.
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rbauctionBid-Live Frequently Asked Questions
 

About the rbauctionBid-Live Service

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Questions about the rbauctionBid-Live Service
 
1. Is the rbauctionBid-Live service available for all Ritchie Bros. auctions?
2. Are all lots in the auction available to bid on over the Internet?
3. What is this "Choice & Privilege" auction format used by Ritchie Bros.? How does it work?
4. Is the system secure?
5. Is there a charge for using this service?

1. Is the rbauctionBid-Live service available for all Ritchie Bros. auctions?
 


The rbauctionBid-Live service is now available for all auctions conducted at Ritchie Bros.' permanent auction facilities and at selected off-site locations. Visit the rbauctionBid-Live auction schedule page to view the list of upcoming auctions offering the rbauctionBid-Live service.

 

 
2. Are all lots in the auction available to bid on over the Internet?
 


In most cases, all lots auctioned off during the ramp portion of the sale and a large percentage of the higher value lots auctioned off during the stationary row portion of the sale are available for bidding using the rbauctionBid-Live service. Please visit the rbauctionBid-Live auction schedule page a few days before the auction to view the list of lots that will be available to bid on using the rbauctionBid-Live service. If you want to place a bid on other items, you can CALL THE AUCTION SITE TO PLACE A PROXY BID.

Please note that late consignments (often called "A" lots) may not always be available for Internet bidding.

 

 

3. What is this "Choice & Privilege" auction format used by Ritchie Bros.? How does it work?
 


Ritchie Bros. frequently sells lots on a "Choice & Privilege" basis. It works like this:

Similar items are grouped together and offered to the bidders as a group, for example, a Choice of 4 items.
When the bidding commences, bidders place bids on a single item in the group.

The winning bidder is offered "Privilege", meaning that he may purchase any or all items in the group at the same price for each item.

When bidding via rbauctionBid-Live, you can only preselect one lot in a Choice and Privilege Group then if you are the winning bidder the auctioneer will give you a SHORT opportunity to buy ANY or AS MANY more of the additional lots in the Choice and Privilege Group at the current SOLD PRICE.

You may only select one lot in a choice group until you are the winning bidder and then you may select any or all of the remaining lots in the Choice and Privilege Group.

 

 
4. Is the system secure?
 


Yes. Ritchie Bros. uses industry standards web security software to protect the security and privacy of your personal information and bidding transactions. The security of the rbauctionBid-Live service relies on the confidentiality of your Express Bidder Personal Identification Number (PIN). Treat your PIN the same as you would your banking card PIN - never disclose it to anyone and don't write it down. If anyone else knows your PIN, they may be able to access the system using your identity.

 

 
5. Is there a charge for using this service?
 


Effective January 1, 2003, each Lot purchased with the rbauctionBid-Live Internet bidding service will be subject to an Internet Purchase Fee of 2% of the purchase price to a maximum of $500 per Lot. For auctions conducted in other than U.S. dollars, the maximum amount is 500 per Lot in the currency of the auction. The Internet Purchase Fee applies only to bidders who successfully purchase lots using the rbauctionBid-Live service. No charges or fees apply to unsuccessful bidders or to bidders who only view the auction. The 10% administrative fee assessed on every lot selling for 2,500 or less continues to apply separately to all purchases.

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