Heavy equipment demand is increasing in the Middle East and Africa: Bidder activity on Ritchie Bros

Bidder activity on Ritchie Bros

Marketplace-E, the company’s online auction podium for surplus heavy equipment, has increased year over year, especially from buyers in the Middle East and Africa.
Companies in need of this equipment are gradually moving to online marketplaces, according to Phillip Weston, Middle East main accounts manager, because it is a more convenient asset disposal and buying solution despite the disruptions of COVID-19.

“This upsurge is predominantly due to factors such as country-wide lockdowns and global travel restrictions, which are making attendance at traditional, live auction events more difficult,” he said.

“Furthermore, a shift towards online auction solutions was already underway before the pandemic, which has exponentially sped up its popularity.”

Mining and electricity, as well as gas and oil, manufacturing, transportation, and agriculture, are all included in Marketplace-E. Online offerings are available 24 hours a day, seven days a week, and run on a reserve basis.
“Marketplace-E sells the equipment from the consignor’s location, eliminating transportation costs for the seller,” Weston noted. “Detailed inspection reports and photos of inventory feature prominently…and are designed to create a higher degree of buyer confidence, which is especially important as inventory is sold ‘as is, where is’.”
Excavators, crawler tractors, wheel loaders, backhoes, articulated dump trucks, mobile cranes, and other equipment are available for purchase on Marketplace-E. Interest in buses, pickup trucks, and passenger vehicles has increased recently.
Pre-sales, equipment maintenance and refurbishment, and full-service logistics are all part of Ritchie Bros’ service offering.

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