Ritchie Bros gears up for EOFY auction

Ritchie Bros. is gearing up for one of its biggest events of the year, the End of Financial Year Auction this week on June 22 and 23 that is set to feature over 2200 construction, transport, and agricultural assets up for bids.

Over two days, buyers around the world will be able to place bids on assets from six Ritchie Bros. locations – Adelaide, Brisbane, Dubbo, Geelong, Mittagong, and Perth.

The company says large consignments from Thurwood Refrigerated Transport, Linde Transport, and Big Hill Heavy Haulage have made the upcoming auction the largest on record.

“We are seeing huge demand in the form of registrations and enquiries online,” says Ritchie Bros. Marketing Director, David Fanning.

“The auction is expected to attract over 3000 registered bidders and we are already seeing strong global interest from buyers in North America, South America, Europe, Asia, and Africa.

“Ritchie Bros. has attracted a record 15,133 registered online bidders to its auctions in 2022 alone.”

Fanning says supply chain constraints and component shortages are continuing to drive demand. He adds shortage hindering global vehicle and equipment production is expected to persist through 2022 before supply catches up with demand in early 2023.

“Our National Unreserved End of Financial Year Auction is a great opportunity to pick up all the assets you need without the wait.”

The event will be held exclusively online with bidding now commenced. Those interested in bidding are urged to register to bid before the auction. Day one of the auction (June 22) will be dedicated to construction and crushing gear while day two (June 23) will focus on transportation and agriculture assets.