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The odd thing about the high starting bid prices is according to the wiki entry for Ritchie Bros. Auctioneers, they are really big into no reserve auctions.
https://en.wikipedia.org/wiki/Ritchie_Bros._Auctioneers
Wonder if they spent too much buying Iron Planet and are trying to recover the...
Depends. IP/GP probably had the big iron construction & farm stuff figured out. They knew about what it was going to sell for before they agreed to list it. And they could always tell a prospective seller that they didn't want that particular item.
I doubt their govt. surplus contract allows...
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