Ritchie Brothers Online Commissions

[LEP]

I know this has been discussed already. Just thought this should have it's own thread.

So Ritchie Bros Covid-19 response is auction sites are open for inspection of equipment, but bidding is only online. I had read where some auction companies in the US had moved this way too. However, they were waiving their online buyers premium.

So I contacted Ritchie Bros to see if they were reducing or waiving their online buyers premium... nope it will stay the same.

I would be furious if I was lined up to sell my equipment in a spring auction and essentially Ritchie Brothers added 3.45 to 10% to the cost to purchase items at my loss. Any item worth more than $10,000 is a minimum $1,000 buyers premium.

The buyer's mood is already under strain and add this. By the way, I checked and prime at RBC hasn't moved yet. So interest on variable rate loans aren't different from last fall despite two rate cuts at the Bank of Canada.

Funny Pattison didn't buy Ritchie Bros cause there is more money in selling equipment the second time around.

[J88]

Ritchie Bros online commissions

I am still going to attend sales in person even if I am number 251 Gee otherwise one advance trip to preview , then go home till sale day pay a fee to buy online then another trip back to pick up. Starts to cost time and money it sure takes the fun out of it

[GDR]

I know this has been discussed already. Just thought this should have it's own thread.

So Ritchie Bros Covid-19 response is auction sites are open for inspection of equipment, but bidding is only online. I had read where some auction companies in the US had moved this way too. However, they were waiving their online buyers premium.

So I contacted Ritchie Bros to see if they were reducing or waiving their online buyers premium... nope it will stay the same.

I would be furious if I was lined up to sell my equipment in a spring auction and essentially Ritchie Brothers added 3.45 to 10% to the cost to purchase items at my loss. Any item worth more than $10,000 is a minimum $1,000 buyers premium.

The buyer's mood is already under strain and add this. By the way, I checked and prime at RBC hasn't moved yet. So interest on variable rate loans aren't different from last fall despite two rate cuts at the Bank of Canada.

Funny Pattison didn't buy Ritchie Bros cause there is more money in selling equipment the second time around.

When I saw RB say online only that was the first thought I had too. I cant see why they would even charge a premium anyhow, isnt it just the way of the world these days. Just a money grab.

As for interest rates, I got a loan coming up for renewal so looked at AFSC rates this am and they are higher than last week. What the hell??

[makar]

I just paid afsc off on my last quarter, they phoned this afternoon asked if they could hold the title, owe them nothing.

[Crestliner]

I just paid afsc off on my last quarter, they phoned this afternoon asked if they could hold the title, owe them nothing.

Congratulations.....what a milestone and a relief....I got two more years....you should get that title and frame it and celebrate at nice steakhouse when we are past this current problem.

[woodland]

I just paid afsc off on my last quarter, they phoned this afternoon asked if they could hold the title, owe them nothing.

Congrats 🥳. That’s a great feeling when something is finally free and clear. I know we sure celebrated when my folks made the final payment on the original place.

[parsley]

Congratulations.....what a milestone and a relief....I got two more years....you should get that title and frame it and celebrate at nice steakhouse when we are past this current problem.

I’d sure like to meet makar, sometime. Lucky to have have him in ag. I’d treat him to his steak, too.

[makar]

Ever take a trip to alaska mile zero is a hour away.

[Marusko]

Time to buy RB stock?

Couple land auctions coming up. Gotta be agonizing for the vendors to see this happen right before their big day.

Congrats Makar... hope I can pay mine off sooner than the 35 years I just agreed to....