Mining Magazine January 2015 | Page 13

How to Buy and Sell Mining Equipment Via Auction
Caterpillar wheel loader being sold in Orlando , Florida
a physical inspection ,” says Johnston . In addition , the company offers refurbishing services at an additional cost , including exterior and interior cleaning , sandblasting , welding , metalwork and light mechanical repair , painting , decal replacement as well as glasswork and upholstery repair .
Array of Benefits The conventional approach to purchasing equipment and machinery has always been to go through dealers of manufacturers . Although this approach does offer benefits like manufacturer warranties and maintenance services , the perks of acquiring equipment through auctioneers like Ritchie Bros . are enormous .
“ The biggest advantage of buying at an unreserved auction is that we have no sticker prices . With no minimum bids or reserve prices , it ’ s buyers who set the prices , not sellers , and everything sells for true market value on auction day ,” says Johnston .
“ Because we forbid sellers from bidding on their own items , there ’ s no artificial price manipulation , making the buying process fair and transparent .”
In addition to saving money on brand name equipment , users can buy or sell at their convenience . The process is user-friendly and
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