One of the most affordable ways to purchase construction equipment is at auction. Why pay for new equipment when you can get good, previously owned front loaders, pavers and cranes at a fraction of their original, retail price? Ritchie Brothers is the leading industrial auction house in the United States and the go-to auctioneers for both buying and selling previously-owned construction, agricultural and industrial equipment.
The Active Construction Market in West Texas and New Mexico
West Texas and Eastern New Mexico make up one of the most active construction districts in the United States. The greater Lubbock area has one of the fastest growing populations in the country and the region's construction projects have grown by approximately 8 percent over the last three years, according to McGraw-Hill Construction.
In New Mexico, active construction projects include a new justice center complex in Los Alamos, a new arts center at New Mexico State University in Las Cruces, and a new casino and resort at Sandia.
Phoenix Equipment Auction in February, 2013
Ritchie Brothers' next auction in the southwest will be held in Phoenix on February 12, 2013, beginning at 8:00 a.m. local time. The auction will be located at 5410 West Lower Buckeye Road in Phoenix, and the on-site telephone contact is 602 269-5631. There are more than 750 items currently scheduled to be auctioned at this sale. A catalog of items in the auction will be available online nearer to the auction date. All items are sold as is, and the buyer is responsible for removal and insurance. Auction items will be available for inspection prior to the auction.
A photo ID (driver's license, state ID or passport) is required to obtain a bidder's card. Items that require a title and/or registration must be paid for in full on the day of the auction. You must pay for your items before they can be removed from the auction site.
If you can't make it to the auction in person, you can bid online in real time or leave a proxy bid in advance. All auction items are sold in US funds. Arizona state tax of 9.3% is added to all auction purchases, although some purchases for export may be exempt from this tax. There is also an administrative fee of 2.5% on lots of more than $2,500 and a 10% administrative fee on lots of $2,500 or less.
All Ritchie Brothers auctions are unreserved auctions and all items are sold on the day of the sale. This means there are no minimum bids and no items are held back for future sale. Owners are prohibited from bidding on their own items.
About Ritchie Brothers
Established in 1958, Ritchie Brothers is the world's largest industrial auction company. Headquartered in Vancouver, British Columbia, the company has more than 110 locations around the globe and employs more than 1,100 full-time workers. Ritchie Brothers held 339 industrial and agricultural auctions in 2011, grossing more than $3.7 in sales.