Ritchie Bros. doesn't play games.
Mahmoud Khalil is a busy man—constantly traveling the world. He owns and operates three equipment dealerships in Lebanon, buying equipment from North America and Europe and selling to contractors in the Middle East and Africa.
"I built most of my companies through Ritchie Bros. auctions," says Mahmoud.
Mahmoud began attending Ritchie Bros. auctions in the late 1990s to study the global equipment market. Impressed by what he saw, Mahmoud began buying from Ritchie Bros. a few years later. A knowledgeable and cautious man, Mahmoud wants to know exactly what he is getting before he makes a decision, and Ritchie Bros. provides him the best opportunity to do just that.
"One of the biggest things I like about buying from Ritchie Bros. is that I can see all the equipment in one yard," Mahmoud explains. "The way you see it in the yard is the way you get it. It also makes it a lot easier to ship the equipment."
More than 1,400 items are sold at an average Ritchie Bros. auction, and each site is located close to major transportation routes and ports. But convenience isn't the only thing Mahmoud appreciates about Ritchie Bros. auctions.
"Ritchie Bros. doesn't play games," says Mahmoud. "At other auctions the owner may be bidding or there may be a reserve price, but with Ritchie Bros. the highest bidder gets the equipment at the end of the day, no matter what."
However, with more than 300 Ritchie Bros. auctions every year, Mahmoud simply cannot attend them all. When he can't be there in person he bids online.
"I often bid online, but if I can make it to the auction it's better," says Mahmoud. "I have shopped for equipment through other online auction companies, but if I see a piece of equipment online at a Ritchie Bros. auction I have more confidence to buy because I know it's in the auction yard available for people to inspect it. With some auction companies you never see the piece of equipment until you pick it up from the owner so you don't know what has happened to the equipment since the picture was taken or the inspection was done."
Mahmoud also values Ritchie Bros. as a global marketplace to sell equipment.
"When you sell through Ritchie Bros. you are selling to the world," says Mahmoud. "If you are selling equipment in the United States and there are bidders from Saudi Arabia, South Africa, China and Australia you can be sure that you will get the highest price possible. You aren't limited to local prices, you get what the world is willing to pay for that piece of equipment on that day."
Whether buying or selling, Mahmoud counts on Ritchie Bros.—and he'll continue to attend as many auctions as he can. After all, his business depends on it.
Written and published: 2011