April 25, 2011
Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, will sell 320 heavy equipment items and trucks during a one owner unreserved public equipment auction being held on Thursday, May 5 in Frederick, Maryland.
The auction is a complete dispersal for Mt. Airy-based AccuBid Excavation, Inc., a heavy contractor specializing in site development. The auction is open to the public—anyone can bid in person at the site on auction day, online in real time at www.rbauction.com or by proxy (for people who aren’t able to bid in person or online on auction day).
Ritchie Bros. conducts hundreds of unreserved public equipment auctions around the world each year, selling a broad range of used and unused equipment deployed in various industries including construction, transportation and agriculture, among others. The company holds strictly unreserved auctions, which means there are no minimum bids and no reserve prices for the items being sold.
Tom Pank, president of AccuBid Excavation, Inc., is selling his equipment to focus on another business venture he launched and has operated for the past several years. Though he originally purchased approximately 10 percent of his current fleet at Ritchie Bros. auctions in the past, the Frederick auction on May 5 will be the first time he has ever sold his equipment with the Company.
“I’ve dealt with Ritchie Bros. for many years as a buyer and always had good experiences,” said Pank. “When it came time to sell, I explored a few companies with different business models, but decided on Ritchie Bros. because they presented me with flexible contract options and were able to accommodate my needs, including conducting the auction right in my yard even when I thought they wouldn’t. There was a definite ease of doing business with them.”
The package of heavy equipment being sold for AccuBid Excavation includes an unused 2005 Komatsu BR550JG-1 44 X 24 inch jaw crusher, 40+ hydraulic excavators, 20 crawler loaders, 20+ crawler tractors, 15+ articulated dump trucks, 15+ pick ups, 10+ vibratory smooth drum rollers, motor scrapers and more.
Ritchie Bros. conducts hundreds of unreserved auctions at its 43 auction sites worldwide each year and also provides full auction services to equipment owners at temporary locations in regions where there is a demand. In 2010, off-site auctions — similar to the upcoming Frederick auction on May 5 — accounted for approximately 25 percent of total industrial auctions conducted by Ritchie Bros.
“The ability of Ritchie Bros. to offer the full auction experience on-site in the customer’s own yard and still attract bidders from around the world is very convenient and easy,” said Kevin Kobus, Regional Manager, Ritchie Bros. Auctioneers. “It’s just one of the many value-added services we provide which helps give our customers peace of mind when it comes to selling their equipment through us.”
Frederick, Maryland auction details: