Going, Going, SOLD! RB Gets Into Land Auctions

By 250 News

When the gates open tomorrow at the Ritchie Brothers Auction site on Highway 16 East,  there won’t be just equipment up for sale. 

Ritchie Borthers is seeing a real  growth in its real  estate auctions, and tomorrow, there will be  156 acres of subdividable land in the Hart up for sale along with properties at Tabor Lake, Cluculz Lake and New Hazelton.

“Our customers are turning to us more and more to successfully sell their real estate in our unreserved auctions,” said Clay Tippett, Vice President, Ritchie Bros. Real Estate Services Ltd.  "The seller knows the exact day his property will sell"  and the price will only be set by the mood and comfort level of the bidders "There are no minimum or reserve prices. It’s up to the crowd of bidders on auction day to determine the final price of the real estate.” 

During 2005, the Company sold over 50,000 acres of farmland in Alberta and Saskatchewan and industrial property in Alberta and B.C. through its unreserved auctions. In February 2006, the Company record was broken for the single largest item purchased online when an Arizona office/property sold for US$3.2 million at their Phoenix auction.

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