IronPlanet is min­ing equip­ment sales gold

The Australian Mining Review - - AUCTIONEERS & VALUERS -

RITCHIE Bros. pre­dicts the launch of IronPlanet in Aus­tralia will boost used heavy ma­chin­ery sales in 2018.

IronPlanet, which boasts 1.8 mil­lion reg­is­tered users, sold close to $US1 bil­lion in heavy ma­chin­ery in­ter­na­tion­ally in 2016/17, and now hosts monthly Aus­tralian auc­tions.

Ritchie Bros. Asia-Pacific di­rec­tor op­er­a­tions Richard Tucker said Aus­tralia had been fast to adopt ma­chin­ery cy­ber auc­tions as mov­ing heavy equip­ment to mar­ket drove up costs.

“Min­ing in Aus­tralia is a re­mote busi­ness, with sites based thou­sands of kilo­me­tres from a cap­i­tal cities or ma­jor centres,” Mr Tucker said.

“Mov­ing a 100-tonne plus ma­chine or a fleet of them, isn’t easy or cheap.

“IronPlanet clients can sell, buy and list an item or an en­tire con­sign­ment when and where they want, which can save thou­sands.

“It’s frus­trat­ing for a buyer to spend money ship­ping an item to auc­tion, only to see it freighted back to a new owner just down the road.”

Mr Tucker said IronPlanet was owned and op­er­ated by Ritchie Bros. so qual­ity con­trol was paramount.

“Each piece of equip­ment listed on­line is in­spected by an ex­pert prior to sale,” Mr Tucker said.

“Its im­por­tant buy­ers have a strong level of com­fort when pur­chas­ing on­line.

“IronPlanet buy­ers browse a vir­tual world but our team of ex­pert in­spec­tors who visit each item are very real.

“A qual­i­fied ex­pert in­spects each listed item, pro­vides an au­tho­rised re­port and the IronClad As­sur­ance, guar­an­tee­ing the ac­cu­racy of the in­spec­tion re­port.

“Sight un­seen, IronPlanet buy­ers get what they ex­pect and with no ex­pected sur­prises, sell­ers se­cure the best mar­ket price.”

Mr Tucker said it was IronPlanet’s abil­ity and mar­ket re­spectabil­ity that had re­sulted in the on­line por­tal’s mam­moth global suc­cess.

“One bil­lion in in­ter­na­tional sales last year proves IronPlanet is trusted and ef­fec­tive,” he said.

“IronPlanet pro­vides ac­cess to tens of thou­sands of buy­ers, sell­ers and equip­ment from around the world.

“You can bid, sell and in­spect all from the com­fort of a lounge chair.”

Ritchie Bros. is in­dus­try renowned for its highly-suc­cess­ful on­site un-re­served auc­tions but IronPlanet of­fered cus­tomers the choice of sell­ing at a fixed price, ne­go­ti­a­tion of­fers or set­ting a re­serve price.

Mr Tucker said the in­tro­duc­tion of the on­line re­served plat­form af­forded Ritchie Bros. cus­tomers more op­tions.

“Last year 49 per cent of the equip­ment sold in our on­site auc­tions were sold to on­line buy­ers,” Mr Tucker said.

“IronPlanet widens the on­line au­di­ence by pro­vid­ing dif­fer­ent so­lu­tions for cus­tomers.”

Mr Tucker said on­site auc­tions would re­main highly pop­u­lar with buy­ers and sell­ers even as the pop­u­lar­ity of on­line auc­tions grew.

“Richie Bros. has three on­site auc­tion sites in Perth, Gee­long and Yatala, and they serve an im­por­tant pur­pose,” he said.

“On­line is an im­por­tant cog in the wheel but you can’t un­der­es­ti­mate how much buy­ers still like to kick a tyre and see prod­ucts first-hand.

“We have buy­ers fly in from all over the world to see a piece of equip­ment.

“Thanks to IronPlanet, Ritchie Bros. can of­fer the per­fect mix of op­tions.”

More in­for­ma­tion can be found at: rbauc­

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