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Ritchie Brothers is the largest industrial auctioneer in the world.

It was established on 1958 in Canada and the company conducted its first successful auction in that same year. Their first unreserved industrial auction was held in 1963. The company's headquarter is in Vancouver, Canada. Ritchie Brothers has 110 locations and 40 auction sites throughout the world. Auctions conducted by Ritchie Brothers are unreserved, which means there are no minimum or maximum in bidding prices. Items are sold to the highest bidder and in order to keep the auction fair, the owners are prohibited from participating in the auction of their own items.

One of their upcoming used construction equipment auctions is the Heavy Equipment Auction in Phoenix, Arizona. The auction is scheduled to begin on Tuesday, Feb. 12, 2013.

This is a two-day long auction, which will continue on Feb. 13 too with the office hours being 8:00 a.m. to 5:00 p.m. every day.

The location of the auction site is 5410 W. Lower Buckeye Rd. in Phoenix. Interested participants could contact them by phone or fax. The phone number is +1 (602) 269-5674 and the fax number is +1 (602) 269-5631.

It is important to note that probable buyers of the items are fully responsible for removing and insuring. Full terms and conditions for the auction could be found in the auction catalogue or it can be viewed on the internet as it is available online too. Participants would have to register individually to place bid on any item. Though registration is free, they have to pay an initial refundable bid deposit.

They also have to submit documents like driver's license, ID card or passport in order to verify their true identity. Attendees should also be concerned that the auction site is theoretically a dangerous place as pressurized, corrosive and flammable substances exist in the environs. Heavy instruments are operated there and there could be live electric lines too. Therefore, interested attendees would be participating in the auction at their own risk. Ritchie Brothers has made it clear that they will not bear any claim or allegations in case of any accident, injuries or damages of property.

Ritchie Brothers maintain strict policies on the bidding process. While the owner of the item could not take part in item's bid, any person acquainted with the owner should inform the auctioneer before the auction begins. Purchased items will not be released until the payment has been cleared. In case of payments using non-certified funds, the items will be released only after receiving the full payment. Purchased items should be removed from the site within the pre-defined period. Otherwise, buyers have to pay storage fees as decided by the company. The removal dates for specific items can be found on the company's website.

As construction industry is booming in Phoenix, it is the right time to take the most out of this. Auctions like this one conducted by Ritchie Brothers could easily minimize the total cost and will yield more convenience for the construction companies. Seeing that they won't need to bring heavy equipment from other areas or construction sites, it will allow them to concentrate more on the other important aspects of their job. Therefore, participating in the upcoming Heavy Equipment Auction would be a wise decision for them.

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