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Buying, selling equipment at auction doesn’t have to be intimidating

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Buying Selling Auction Ccj 300x169Auctions appear to be fast-paced, quick-and-the-dead-type environments and that can be intimidating for newcomers, but Ritchie Bros. Director of Strategic Accounts for Transportation Mike McMahon says that doesn’t have to be the case.

“There’s people there to basically walk you through how to bid, what to look out for [and] explain how the auction works,” he says, adding similar resources are available for online users. “It’s fairly easy. It’s just a matter of being confident in what you’re doing.”

Getting involved in an auction, says Taylor and Martin Auctioneers National Director of Sales Steve Oliver, is as simple as contacting a representative from the auction house and letting them know of your interest. They will guide you through the rest of the process.

“The easiest way to get involved would be one of two things,” he says, “either contact a sales representative or corporate office.”

Equipment lists are generally available for all upcoming auctions, including photos and spec information on consigned equipment.

Registration isn’t generally required to review equipment online or for onsite inspections.

“The point where you need to have a registration process would be if you register to bid and purchase at an auction,” Oliver says, “which is a very simple process of either a deposit or a bank letter of credit.”

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