Ritchie Bros. operates as an auctioneer of industrial equipment. The company operates from approximately 110 locations in 25 countries, including 44 auction sites worldwide. It sells, primarily through unreserved public auctions, a range of used and unused industrial assets, including equipment, trucks and other assets used in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. The company’s customers are both buyers and sellers of equipment, trucks and other industrial assets. The majority of its buyers are end users of equipment (retail buyers), such as contractors, with the remainder being primarily truck and equipment dealers, rental companies and brokers (wholesale buyers). The company maintains a proprietary customer information database containing detailed information on approximately 560,000 unique customers from approximately 190 countries, including each customer’s auction attendance, trade association memberships, buying habits and other information. This database enables the company to identify customers who might be interested in the equipment being sold at any particular auction. In 2010, the company launched its new 21-language Website, with enhanced features, such as zoomable photos, watch lists and other valuable features. The Website (www.rbauction.com) enables customers to interact with the company, as well as search for and purchase the equipment they need. In total, the company had approximately 5.6 million unique visitors to its website in 2012. In 2011, the company launched its detailed equipment information, or DEI, program, in which it provides free of charge on its Website to all customers much more detailed information and photos about the equipment to be sold at its auctions. Value-Added Services: The company provides an array of services to make the auction process convenient for buyers and sellers of equipment. Examples of these services include the following: conducting title searches, where registries are commercially available, to ensure equipment is sold free and clear of all liens and encumbrances; making equipment available for inspection, testing and comparison by prospective buyers; displaying high quality, zoomable photographs of equipment on its Website; providing free detailed equipment information on its Web site for most equipment; providing financing services, as well as insurance and powertrain warranty products; providing access at its auctions to transportation companies, customs brokerages and other service providers, and online through its partner, uShip; providing facilities for on-site cleaning, painting and refurbishment of equipment; and handling all pre-auction marketing, as well as collection and disbursement of proceeds. Customers The company’s customers are both buyers and sellers of equipment, trucks and other industrial assets. The majority of its buyers are end users of equipment (retail buyers), such as contractors, with the remainder being primarily truck and equipment dealers, rental companies and brokers (wholesale buyers). Consignors to its auctions represent a mix of equipment owners, the majority being end users of equipment, with the balance being finance companies, truck and equipment dealers and equipment rental companies. History Ritchie Bros. Auctioneers Incorporated was founded in 1958.
ritchie bros auctioneers (RBA:New York)
9500 Glenlyon Parkway
Burnaby, BC V5J 0C6
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To contact RITCHIE BROS AUCTIONEERS, please visit www.rbauction.com. Company data is provided by Capital IQ. Please use this form to report any data issues.