RITCHIE BROS. RETURNS TO THE PHILIPPINES AS SECONDHAND PRICES SOAR

by Philippine Resources - August 31, 2021

With global OEM production slow-moving due to the pandemic and secondhand equipment prices reaching new heights, Ritchie Bros. Senior Territory Sales Manager Chris Edwards is encouraging consignors in the Philippines to bring their assets to market.

Chris Edwards, who is based in Manila, was appointed at the beginning of 2021 to accommodate rising demand in the Philippines.

Chris Edwards

“Ritchie Bros. has a long-standing reputation in the Philippines. The first Ritchie Bros. auction ever hosted in Asia was in Subic Bay in 1994. We pioneered the auctioneering business in the Philippines with permanent live auction sites from 1994 to 1999, now we’re back with a new office in Manila to support buyers and sellers in the Philippines” said Mr. Edwards.

“We have returned to the Philippines as the global market appetite for used equipment and machinery has burgeoned over the last 18 months with no sign of demand slowing down.

“Philippine mining companies have experienced record-breaking quarters and rising commodity prices. This is a great time to bring used equipment to our global market and get the best possible price. We continue to secure great results for mining companies across Asia through our various sales channels.

“We have Territory Managers all throughout the Asia-Pacific region ready to help consignors get the best price for their used equipment. As world-leading asset remarketers, with expertise on the ground, our comprehensive sales solutions give consigners a choice of selling solutions through Ritchie Bros. Auctioneers unreserved auctions, IronPlanet reserved auctions, or our 24/7 Marketplace-E.” 

Ritchie Bros. sold more equipment and machinery in 2020 than any other auction company. The Covid-19 pandemic has continued to accelerate acceptance of large-scale online equipment sales and purchases. Since shifting to exclusively online auctions, the market leader has continued to see record-breaking bidder participation, strong buyer demand, and outstanding results for sellers.

Need help selling your assets? Contact Chris Edwards on +63.917.149.8545 or cedwards@ritchiebros.com


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