The Combine Forum banner

1 - 20 of 89 Posts

·
Premium Member
Joined
·
297 Posts
Discussion Starter #1
Feel for the guys that are set up to sell this spring. How hard is it to back out? I would think stuff will go dirt cheap
 

·
Registered
Joined
·
973 Posts
I'm kind of wondering whats RB going to do?
Particularly with their yard sales?
Only allow 250 people in the building?
 

·
Registered
Joined
·
632 Posts
Maybe selling sooner then later might be the right thing. 20 something oil is going to turn western Canada into a ghost town if it last for a year
 

·
Registered
Joined
·
237 Posts
Wonder if RB will make any changes to their online bidding fees. Seems pretty ridiculous as it stands:

Each purchased Lot will be subject to a transaction fee of:
(a) 10% on all Lots selling for $10,000 or less,
(b) 3.85% on all Lots selling for over $10,000 up to $33,500, with a minimum fee of $1,000 per Lot or,
(c) $1,290 on all Lots selling for over $33,500. The transaction fee will be waived for all Lots purchased in person at on-the-farm auctions
 

·
Registered
Joined
·
4,757 Posts
Sullivan auctions down here waved buyers premium for online sales (if bought in person at sale no buyers premium, bought online buyers premium).

Steffes auctions cancelled all live on site sales and moved to tied online only.

If I were lined up to have a sale and wasn't forced into it I'd cancel for now.
 

·
Registered
Joined
·
1,264 Posts
RB was nice enough to extend pick up dates from 14 to 30 days. I think that is about as much of a break you will get from RB.
 

·
Registered
Joined
·
8 Posts
probably the economy turning into a giant pile of sh*t is worse than them canceling live actions. i will still buy stuff but the buying mood is not that positive at the moment, everyone is playing the waiting game.
 

·
Registered
Joined
·
501 Posts
Send Richie Bros an email asking them to drop their online fees. Social media is a powerful tool in pointing out unjustified costs like this in a time of crisis. Pushing everyone to their expensive online bidding also happens to make them more money. Kind of like hoarding toilet paper and hand sanitizer and then selling for 2-3x.
 

·
Premium Member
Joined
·
5,327 Posts
If it is like any other Richie sale things will go much higher than you expect. They will just buy back stuff with a sister company or however they have it rigged.
 

·
Registered
Joined
·
860 Posts
Doesnt rb have a guarantee on overall value of equipment after the sale is done? If sellers took that option they probably dont have much to worry about and RB will need those 10% buyer fees...
 

·
Premium Member
Joined
·
629 Posts
Doesnt rb have a guarantee on overall value of equipment after the sale is done? If sellers took that option they probably dont have much to worry about and RB will need those 10% buyer fees...
It depends what deal you sign with them. They'll buy the equipment outright and sell it. They'll give a guarantee and take an enhanced commission for anything over the guarantee. Or they'll just sell it and you take your chances but in return their commission is lower. Well, not exactly "lower" but more like "less high". They may have other plans but those are the ones I know about.
 

·
Premium Member
Joined
·
890 Posts
Good family friend is having his sale first thing April, sitting down to have a meeting tomorrow with the rep. Sounds like they want to do all the bigger iron online and delay the small in person stuff. Don’t think I’d be too excited about that.
 

·
Premium Member
Joined
·
8,108 Posts
I suppose if someone needs a large item they will have done some research and easy to bid online, although a more clear line is being drawn between needs and wants these days. Small spontaneous stuff will be awful in my estimation so I can see cancelling that for later. I've seen a lot of auction sales that defied all logic and this spring might surprise on the upside, but it sure seems like it will be a blood-bath.

All the guys that cashed out over the last couple years sure look smart now....unless they put their money in the stock market...:oops:
 

·
Premium Member
Joined
·
4,977 Posts
While all the uncertainty and current situation won't effect everyone, I can already say for myself my spending is going to take a huge hit this spring and that is going to be the case for a lot of folk. In my case well its simple, I figured might be best to hold off so didn't ship my calves today, they are still here and I'm not sure when they will be leaving, who knows now, but thats thousands of dollars I won't be spending anytime soon. A neighbor has his sale booked for the 3, as far as I know its still a go, was talking to another neighbor this morning, we are both glad its not us.

As for being able to back out, think it has to be some very extenuating circumstances like act of God before even lawyers guns and money could get you out, especially I would think with the likes of RB, smaller outfits be more willing to work with you I suspect. As for that RB guarantee, its my understanding very few ever go for it simply because of what it costs to get it.
 
1 - 20 of 89 Posts
Top