@albertabuck66 I'm not sure if you've used the Timed Auction system, but it has an Advanced Bidding section for people who want to bid on similar items, but don't want them to buy them all. The 10% admin fee applies to lots than sell for $2500 or less only, regardless of whether they're sold in the live or Timed Auction. We do everything possible to make our auctions fair and convenient for everyone: buyers, sellers, online bidders and on-site bidders.
This type of selling format is only beneficial for Ritchie's and the dealers who purchase large volumes. For the regular shmuck, if there is more than one of an required item and they are of varying quality it impossible to make a logical purchase and be certain you end up with what you need without bidding on and taking the chance of ending up with more than one. With the minimum lot fees charged by Ritchie's and the ten percent buyers premium, its a good cash cow for them is all.
@TxDragon55 You're right: there's nothing like the thrill of the live auction. That's why we sell almost everything that way, with on-site and online bidding. But you're also right about Timed Auctions having their purpose: it gives every bidder a chance to compete on smaller items, whether they are online or at the auction site. I hope you get a chance to try it at an upcoming auction. You might be surprised by how exciting it is...
Not sure if I like this type of auction service. I love the trill of competing with others on items. This type is more like a silent auction and yes they do have thier purpose but I do not feel that it is at Richie Brothers, this makes me feel like I am doing my bidding with E-Bay.
@albertabuck66 I'm not sure if you've used the Timed Auction system, but it has an Advanced Bidding section for people who want to bid on similar items, but don't want them to buy them all. The 10% admin fee applies to lots than sell for $2500 or less only, regardless of whether they're sold in the live or Timed Auction. We do everything possible to make our auctions fair and convenient for everyone: buyers, sellers, online bidders and on-site bidders.
ritchiebros 1 year ago 2
This type of selling format is only beneficial for Ritchie's and the dealers who purchase large volumes. For the regular shmuck, if there is more than one of an required item and they are of varying quality it impossible to make a logical purchase and be certain you end up with what you need without bidding on and taking the chance of ending up with more than one. With the minimum lot fees charged by Ritchie's and the ten percent buyers premium, its a good cash cow for them is all.
albertabuck66 1 year ago
@TxDragon55 You're right: there's nothing like the thrill of the live auction. That's why we sell almost everything that way, with on-site and online bidding. But you're also right about Timed Auctions having their purpose: it gives every bidder a chance to compete on smaller items, whether they are online or at the auction site. I hope you get a chance to try it at an upcoming auction. You might be surprised by how exciting it is...
ritchiebros 1 year ago
Not sure if I like this type of auction service. I love the trill of competing with others on items. This type is more like a silent auction and yes they do have thier purpose but I do not feel that it is at Richie Brothers, this makes me feel like I am doing my bidding with E-Bay.
TxDragon55 1 year ago