Ritchie Bros. Auctioneers has launched rbauctionBid-Live Internet bidding service.

The rbauctionBid-Live service allows customers to follow the live auction, hear the auctioneer and place bids, all live and in real-time over the Internet.
Customers who are unable to attend an auction or prefer not to travel, but have satisfied themselves as to the condition and value of a particular piece of equipment, can now place their bids over the Internet. Bidding is as simple as clicking a bid button, which changes to reflect the auctioneer's current asking price.
According to Dave Ritchie, Chairman and CEO of Ritchie Bros., the rbauctionBid-Live service has been designed to address the unique needs of the used equipment industry. "Used trucks and equipment can't be sold like commodities or collectibles. It is important that all bidders, including our Internet bidders, have the opportunity to inspect, test and compare the equipment, and then bid on it in a fair and open environment. Recognizing that eCommerce models being used in other industries would not be appropriate for buying and selling used trucks and equipment, we designed the rbauctionBid-Live by considering our customers' needs and using the knowledge gained during our 38 years in this business."
"Our Internet bidding service doesn't replace our live auctions; it enhances them," adds Bob Armstrong, Vice President of Internet Services for Ritchie Bros. "Our goal was to build a system that would be very easy to use and that would let Internet bidders compete against onsite bidders in an open and fair environment. We believe the rbauctionBid-Live service delivers that. Our Internet bidders are able to sense the mood and momentum of the auction because they are listening to the auctioneer's call in real-time. And because they are participating in an unreserved Ritchie Bros. auction, they can bid with confidence, knowing that there is no artificial price manipulation and that the equipment they are bidding on will be sold to the highest bidder."
The system was developed by Auction Management Solutions, a software development company based in Tampa, Fla.