How much does it cost to sell something at an auction?
How much does it cost to sell something at an auction?
In general, you'll pay a sales commission equal to 20 to 50 percent of the sale price. If your sale totals less than $300, you're more likely to pay that 50 percent; more expensive items are charged lower commissions. But fees are negotiable and often depend on how much an auctioneer wants to sell your goods.
How long does it take to get paid from Ritchie Brothers?
Every item is sold to the highest bidder on auction day, and you'll have cash in hand within 21 days.
What happens if you dont pay Ritchie Brothers?
If Ritchie Bros. does not receive full payment within seven (7) days of the end of the auction, your credit card may be charged automatically and a 2.95% iClosing Convenience Fee will be applied to the transaction.
How does Ritchie Brothers work?
Ritchie Bros. conducts live auctions at physical auction sites, with real time bidding on-site and online. We sometimes sell smaller items, like equipment attachments and consumer goods, in an online Timed Auction.
What percentage does Ritchie Bros charge?
7.5% of the selling price in the currency of the auction. The transaction fee applies to on-site, online and proxy purchases. All charges are subject to GST.
How much does Ritchie Bros make a year?
Total revenue increased 4% to $1.4 billion as compared to 2019. Service revenue increased 8% to $871.6 million as compared to 2019. Inventory sales revenue decreased 2% to $505.7 million as compared to 2019.18 Feb 2021
Does Ritchie brothers own IronPlanet?
Ritchie Bros. acquired IronPlanet for approximately $758.5 million, subject to customary closing adjustments.31 May 2017
When did Ritchie Bros go public?
1998
How Ritchie Brothers auctions work?
Every item is sold to the highest bidder on auction day, with no minimum bids or reserve prices. Bids are irrevocable, and all sales are final. If you're the highest bidder when the auctioneer announces that an item has been sold, you're the new owner of that item.
How do you buy equipment at an auction?
- Research the machine. Check with the auction yard or your auction rep to see if your mechanic can inspect the equipment prior to the auction.
- Research the seller. Look for information on the seller so that you have a better sense of how they used the equipment.
- Research the cost.
- Buying used doesn't have to be a gamble.
How do I register with the Ritchie brothers?
- Create a free account.
- Register to bid online.
- Account verification and bid deposits.
- Never miss a lot - place a PriorityBid before the live auction starts.
- Enter the auction on auction day.
- Listen to the auctioneer.
- Follow the bidding.
How much does Ritchie Bros charge to sell?
Each purchased Lot will be subject to a transaction fee of: (a) 10% on all Lots selling for USD 12,000 or less, (b) 4.85% on all Lots selling for over USD 12,000 up to USD 75,000, with a minimum fee of USD 1,200 per Lot or, (c) USD 3,628 on all Lots selling for over USD 75,000.
Can anyone buy from Ritchie Bros?
Anyone can register and bid in person at our live auctions.