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rb auction

Discussion in 'General Industry Questions' started by trekkar, Mar 18, 2019.

  1. John C.

    John C. Senior Member

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    I suppose you can see that in the oil fields when things go bust. You don't see any of that down here is Chehalis. Anything near new brings as much as retail dealer with no perks. No warranty, no financing, no whine time and you can't have it until paid in full.
     
    Ronsii likes this.
  2. Crummy

    Crummy Senior Member

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    @John C. I knew a guy at Rhine that used a rate sheet for wholesale machines, something like; under X,XXXhrs, yellow, $1.00/lb....over X,XXXhrs $0.75/lb.......over XX,XXXhrs $0.50/lb. Is that a common practice now in the wholesale market?

    I hauled machines out of RB for customers (why they 'partnered' with uShip, what a joke!, but I digress...) some barely would get on the wagon & I'd use spill kit diapers zip tied & stuffed everywhere to keep from getting put OOS for leaking, understandable for an auction machine......but you paid how much for it?!?!?!? WOW! I think the RB easy-squeezy financing helps them sell a lot of junk. I still get calls from RBFS- "we're having an auction in your area and offering no payments for 90 days....".
     
  3. John C.

    John C. Senior Member

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    I've seen a lot of ways people consider value on machines that work something like that. Straight line depreciation tables and ball park estimates all come for some type of knowledge of the markets and with enough experience can be pretty handy. The thing to keep in mind is that they work about the same as a value guide. You have to adjust for age, condition, desirability and so on.
    I've been standing next to people bidding on a machine and when the gavel hit, they asked me which machine they bought.
    Ritchie Bros. isn't the same company it was before they went public. Now everything is for the share holders and they are looking for a lot of different ways to make money over and above the auctions themselves.
     
  4. 56wrench

    56wrench Senior Member

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    alberta
    people get excited when they hear about the cheap item that somebody got at auction but they have to remember that if they were there they would have had to outbid the other guy and the price would have been higher-maybe a lot higher
     
  5. 56wrench

    56wrench Senior Member

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    in my experience, its always the sales I don't go to that have the best deals lol
     
    nicky 68a likes this.
  6. Birken Vogt

    Birken Vogt Charter Member

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    Also depends on whether you are selling or buying. At the last sale I went where items I valued at $2000 were selling for $8000, a guy I know had a couple of reasonable condition pieces of large iron sell for only $15,000, I guess nobody needed them that day.
     
  7. trekkar

    trekkar Member

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    I wasn't able to go so I wasn't buying one of the 308s unless they were about 10k less than they went for. They had 10 2017 308s hours from 280-950 and all went between 72k and 80k. Then with fees, taxes and transport I was probably going to be in another 10k. Which I think is a fair deal if it all checks out but I'd would rather spend a little more and not gamble with an auction unit. Actually have time to use it. And like 56alberta said, I would have had to out bid the selling price and I'm not sure if some dealer bought them all up or not and will just resell. There were 2 2012 TB285s that went for around 42k and 47k even though 1 had 6k hours and the other had 3k. A tb175 with 6k hours went for 13k which sounds great considering one in my area is listed for 27k with the sames hours but not knowing the condition.

    Also there were a few skid steers then went for cheap money compared to what I see them forsale up here in the northeast. Of course I have no idea on the condition

    [​IMG]
    Lot #: 917B
    2005 CATERPILLAR 287B Multi Terrain Loader
    Meter Reads: 1,921 Hr*

    Details: hyd Q/C, bkt, aux hyd, cab
    NORTH EAST, MD

    Tuesday, March 26, 2019
    Sold for: upload_2019-3-31_15-39-34.png USD

    [​IMG]
    Lot #: 928
    2005 BOBCAT A300 Skid Steer Loader
    Meter Reads: 3,916 Hr*

    Details: hyd Q/C, bkt, aux hyd, canopy
    NORTH EAST, MD

    Tuesday, March 26, 2019
    Sold for: upload_2019-3-31_15-39-34.png USD
     
  8. warpspeed

    warpspeed Member

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  9. DeereJohn

    DeereJohn Active Member

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    All of those 308's were imported, any idea why? They all had European decals on them.
     
  10. Wytruckwrench

    Wytruckwrench Senior Member

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    RB Auctions owns a high percentage of the equipment in every sale. They move it around from sale to sale. They import and export their own. So you are always bidding against the house, however you can’t protect your own that’s selling.
     
    CM1995 and xr4ticlone like this.
  11. John C.

    John C. Senior Member

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    I've seen a bunch of stuff coming from Europe in the last two years. Ritchie will go over there and buy out rental fleets and end of job surplus and bring it to the states. The machines usually have a lot of safety crap on them that isn't required here. The only thing that makes them attractive is the low hours and gavel price.
     
  12. catman13

    catman13 Senior Member

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    oregon usa
    try and get parts for them
     
  13. simonsrplant

    simonsrplant Senior Member

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    I don't mind an auction...
    I stand by a rule tho.
    Set your limit and stay within it.
    It's far too easy to bid that extra hundred bucks... Before you know it your a grand over limit and have potentially over paid for a unit.
     
    CM1995 likes this.
  14. Luis Lopez

    Luis Lopez New Member

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    There is always a smart way to transport your machinery, you might want to check some other options.
     
  15. Luis Lopez

    Luis Lopez New Member

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    There are many good people and companies out there offering their services for transportation needs.
     
  16. CashGhost

    CashGhost Active Member

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    Any auction in the UK?
     
  17. xr4ticlone

    xr4ticlone Well-Known Member

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    I talked to a guy in FL that buys a lot of European equipment. He told me most of it has many more hours on it than what they show.

    In Europe the operators are better quality & more careful / better trained than here...they take care of the equipment so the appearances line up with the hours they reportedly have...not the ones they actually have.
     
  18. John C.

    John C. Senior Member

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    I guess I don't know how they would change the hours on stuff without buying new monitor panels on most of the stuff I've seen. You might buy a new panel for a Komatsu or Cat and set the hours where you want. That just seems a bit over the top though when you consider those panels run $2,500 or more to purchase a new one. Most people here buy on condition and need as much or more than on hours.

    I also don't know that they take any better care for a fact. The stuff I've looked at had nice new paint, new seat cushions, glass and everything worked. It also had load locks on every hydraulic circuit.
     
    muzy and Ronsii like this.
  19. Welder Dave

    Welder Dave Senior Member

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    Several members on here have posted pics. of their equipment and jobs they've completed. To say European operators are better quality, more careful, better trained and take better care of the equipment is a pretty ridiculous statement. You can have skilled precision operators or complete hacks no matter what part of the world they're in.
     
    muzy likes this.
  20. muzy

    muzy Well-Known Member

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    What are load locks on hyd. ? John C. Lol I did a quick search...now I know less.