[budfarmer]

Transaction fees for buyers
Please note: Effective January 1, 2023, our transaction fees structure has been adjusted; Each purchased Lot will be subject to a transaction fee of:
Canada

• With the exception of on-farm auctions, each purchased Lot will be subject to a transaction fee of: (a) 10% on all Lots selling for CAD 12,000 or less, with a minimum fee of CAD 100 per Lot, (b) 4.85% on all Lots selling for over CAD 12,000 up to CAD 75,000, with a minimum fee of CAD 1,200 per Lot or, (c) CAD 3,638 on all Lots selling for over CAD 75,000
• For on-farm auctions, regardless of whether you are bidding online or in person, each purchased Lot will be subject to a transaction fee of: (a) 10% on all Lots selling for CAD 12,000 or less, (b) 3.85% on all Lots selling for over CAD 12,000 up to CAD 40,000, with a minimum fee of CAD 1,200 per Lot or, (c) CAD 1,540 on all Lots selling for over CAD 40,000.

 

[jdhrasko]

Whole idea of an auction at one time was the seller Paid the commission, now the have the buyer for another 1/3??

 

[dumbfarmer]

I personally think Ritchie’s is trying to tell everyone they would rather only deal with big stuff and there not looking to do yard cleanup or junk raffles

 

[Bigswede1?]

I personally think Ritchie’s is trying to tell everyone they would rather only deal with big stuff and there not looking to do yard cleanup or junk raffles

Yes, that’s probably true. And because they can!

 

[Twix]

Put all that small stuff on timed auction. Cost Richies next to nothing to do that. Minimum $100 fee is outrageous.

I hope the backlash on this is loud.

 

[Licensed to kill]

Well, it is like the ridiculous price of new farm equipment, as long as people keep buying, they will keep raising the charges. Can't blame RB, it the consignors and buyers that allow them to screw everyone. They are not doing anything most people here wouldn't;t do if they had the opportunity. I refuse to use companies that, IMO are TOO greedy. They all need to make a living just like the rest of us but , IMO RB has been too greedy for awhile. The last RB sale I looked at was several years ago and I will not be changing that stance anytime soon.

 

[torriem]

Greed is the primary factor driving everything these days. Of course the poor souls that run the big grocery chains would have us believe they are victims just like us and it's not at all their fault that end goods prices are skyrocketing and never mind their profits and returns are at record levels.

I guess we know where to invest our money.... RB and Sobeys. Speaking of investing, I just got a letter from RB saying they are planning to merge their Canadian division of RB with their American one (I assume it will be headquartered in the US), and make one company with one set of shares.

 

[Snapper22]

Yeah they don’t want you to sell your junk but want you to purchase their off shore Uncle Weiner quality junk at inflated prices. Remember when they had consignment sales here. They’d use freestanding panels for perimeter fencing which they bought from a guy we got panels from as well. At the end of the sale they’d sell those panels. Often times going for $100 more than what the retail price was. We all complain about these guys but until you choose not to keep the scam going you’re part of the problem.

 

[lion]

So just to be clear in my mind. If i buy something for $100 it costs me $200?? WTF

 

[meritmat2]

Still kinda scratch my head at the timed auction. Put my reserve bid in at 2500.

So just to be clear in my mind. If i buy something for $100 it costs me $200?? WTF

Think it’s 100

 

[makar]

Think iits 200, 100 bid plus 100 fee.

 

[garyfunk]

Farm sale item: 100 dollar item costs 110 plus tax.
Yard sale item: 100 dollar item costs 200 plus tax.

 

[goalieguy847]

Asked one of the guys at the edmonton auction site last year about this.. was told they had roughly 20% of all their little items get left behind so this 100$ minimum was to deter that....

 

[New_Farmer]

Should be partially refundable upon pick up then

 

[Don Boles]

Should be partially refundable upon pick up then

Yeah, RB will get right on that!

 

[lanwickum]

Wonder how many will buy small items, refuse to pay when they realize the fees. Then get banned. Happily never go back.

Auction companies are making almost 20% these days? 10 from each end. I really need to change my farming on the business side. Figure out how to market better and more direct. The money seems to be in many smaller checks then in a few big ones? Why we have subscription based everything these days?

 

[Puffer]

I looked in their catalog I received in the mail to see if I had any neighbours having a sale and then threw it in the garbage. No desire to support that mafia anymore. I’m sure Kijiji or smaller auctioneers will meet my needs whom I’d much rather support.

 

[Snapper22]

When governments change and maybe get tough on organized crime pertaining to money laundering and legitimizing stolen goods these guys might be up against the ropes. If they’re sneaky enough to move iron from sale to sale what’s stopping them from letting other things fly? Far as I’m concerned anyone who does business with them is just as guilty.