Timed Auctions: the Basics
When a Ritchie Bros. auction includes a large number of smaller items such as equipment attachments or other consumer goods we will sometimes hold a Timed Auction in addition to the live auction.
If we are conducting a Timed Auction at an upcoming auction you will see a notice on the auction calendar, in the auction brochure, and in the sale day listing catalog.
Bidding for Timed Auctions is open longer, typically for several days for each item. Bidding starts a few days before the Live Auction begins and closes at staggered times throughout auction day. By the time bidding closes, every item in the Timed Auction will be sold to the highest bidder.
Save Time with Maximum Bids
Because Timed Auctions are open much longer, it can be time consuming if you have to return often to enter single bids. Rather than putting in a new bid each time someone outbids you, you can place a maximum bid early and let the system do the bidding for you.
The system will bid in increments, as needed, up to your maximum bid so you don’t have to sit around online. Simply decide how much you are willing to bid and place your maximum bid early to avoid missing out on items you’d like to buy.
Timed Auction kiosks are available for use at Ritchie Bros. auction sites
Get the Best Price on Similar Items with Choice Groups
If you want to buy a certain type of item in a Timed Auction rather than a specific lot, you may want to consider creating a choice group.
Choice groups in timed auctions work similarly to choice groups in live auctions where you only want to purchase a small selection out of a large group of similar items.
For example, if we’re selling 10 identical generator sets and you want to buy just three of them, you can create a choice group out of the 10 items and specify that you want a quantity of up to three.
The system will bid up to the maximum price you set for each item to maximize your chance of being a successful bidder.
Learn more about how to create a choice group in 10 easy steps.
Timed Auction Bidding Tips
- Save time and effort by doing your research first. Find out which items you’d like to bid on, inspect them, decide how much you’re willing to bid, and confirm the closing times. When you are prepared, sign in to the Timed Auction system and place your bids.
- .Most of our auction sites have free public wireless internet access. Bring your laptop and bid online at rbauction.com or use the Timed Auction kiosks available on site.
- If you register to bid in person at the auction site, you can also place bids using your personal mobile device at mobile.rbauction.com.
Learn more about Timed Auctions, including how to register.