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Find out how to bid in person at Ritchie Bros auction sites. This video gives you an overview about how to buy and at an equipment auction. Anyone can register and bid in person at our live auctions. Registration opens a few days before the auction. If you want to bid online, you will need to register separately on our website. If you have any questions while you're at the auction, ask one of our representatives in orange. Find an auction near you: https://bit.ly/30rOd3Y ▬ Contents of this Video ▬▬▬▬▬▬▬▬▬▬ 00:00 Intro 00:45 Check your Listing Catalog 01:07 Inspect Equipment in the Yard 01:22 Get comfortable on auction day 02:38 Listen to the auctioneer 03:08 Find Lot Number or Choice Group 03:35 Place Your Bid 04:23 Bidding on Choice Group 05:20 After the Bidding 1. Register to bid at the auction site You will need to present photo ID (e.g. identity card, passport or driver's license); you may need to place a refundable bid deposit equivalent to 25% of the amount you want to spend or your maximum bidding limit. You'll be given a listing catalog with your unique bidder number on the cover. If this auction includes a Timed Auction, you will also receive a PIN card to access the Timed Auction online. Check the auction schedule in your catalog to find out when and where each item will be sold. Please note: if you want to bid online, you will need to register separately on our website. 2. Ask for the keys to the equipment Take the time to test, inspect and compare equipment before you buy. 3. Go to where you'll be bidding Most mobile equipment is driven over a ramp in front of the bidders in the main auction theater. Stationary or hard-to-move items are sold where they sit outside in the yard, or using our indoor Virtual Ramp theater screens. Large auctions are split into ‘rings'. Rings may be held at different times (e.g. ring 1 in the morning, ring 2 in the afternoon) or at the same time in different parts of the auction site (e.g. ring 1 in the main auction theater, ring 2 outside in the yard). 4. Listen to the auctioneer Watch and listen to the auction to get a feel for its pace. The auctioneer will introduce each lot and call for bids. If no one places a bid, the auctioneer lowers the ask price. When a bid is placed, the auctioneer raises the ask price. Bidding continues until no more bids are placed. 5. Watch the electronic signboards Electronic signboards are often used to show the current lot number and ask price (not the current high bid). When you place a bid, you are bidding at the ask price. 6. Find the lot number or choice group Items are sold in order by lot number. Similar items are sometimes sold as a choice group. The highest bidder on a choice group chooses one or more lots at the winning bid price. Any remaining lots in the choice group are offered to the runner-up bidder at the same price, and then to the other bidders. If any items remain unsold, the auctioneer will start the bidding again for those remaining units. 7. Make eye contact with the bid catcher Make eye contact with the bid catcher if you want to bid. The bid catcher will relay your bids to the auctioneer. 8. Raise your listing catalog to bid Don't be shy! You can't bid too early, only too late. The bid catcher will let you know if you've been outbid and need to bid again. 9. Sold! Show your bidder number Bidding continues until no more bids are placed. If you are the highest bidder when the auctioneer says "sold!" show your bidder number to the bid catcher. 10. Pay and collect your purchases Return to the registration counter to collect your invoice. When your invoice is paid in full, you can collect your purchases and put them to work! ▬ About Ritchie Bros ▬▬▬▬▬▬▬▬▬▬ #RitchieBros is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Our selling channels include: Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance® equipment condition certification; Marketplace E, an online marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. #ritchiebrosauction ▬ More Videos ▬▬▬▬▬▬▬▬▬▬▬▬ Subscribe to @RitchieBros: https://bit.ly/3hIuLpx All RitchieBros videos: https://bit.ly/3gaigCx ▬ Social Media ▬▬▬▬▬▬▬▬▬▬▬▬ ► Facebook: / ritchiebros ► Twitter: / ritchiebros ► Instagram: / ritchiebros ► LinkedIn: / ritchie-bros ► Website: https://www.rbauction.com/