Ritchie Bros. Auctioneers Incorporated sells industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine, and real estate industries through its unreserved auctions and online marketplaces. The company primarily sells equipment for its customers through unreserved auctions at 44 auction sites worldwide. In addition, during 2013, the company launched EquipmentOne, an online used equipment marketplace to reach a broader customer base. The company focuses on the sale of heavy machinery. Through its unreserved auctions and online marketplaces, the company sells a range of used and unused industrial assets, including equipment, trucks and other assets used in the construction, transportation, agricultural, material handling, mining, forestry, energy and marine industries. The majority of the assets sold through its sales channels would be classified as construction machinery. The company operates from approximately 110 locations in 25 countries worldwide. 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). EquipmentOne Launched in 2013, EquipmentOne is a secure online marketplace designed for equipment owners who prefer to buy and sell equipment privately. Through EquipmentOne (www.equipmentone.com), equipment sellers are able to list their equipment on the online marketplace, receive and accept offers, and complete and settle their sale. EquipmentOne facilitates the completion of sales through a settlement process that protects both the seller and the buyer. Once a sale is agreed upon, buyers are instructed to send the purchase price of the sale to Ritchie Bros. to hold in escrow. When the funds are received, the seller is informed that they can release the sold equipment to the purchaser. When the purchaser provides approval to Ritchie Bros. that the equipment is as advertised, the company then release the sales proceeds less its commission and the buyer’s premium, to the seller. Strategy The company’s mission is to provide compelling business solutions that enable the world’s builders to easily and confidently exchange equipment. History Ritchie Bros. Auctioneers Incorporated was founded in 1958.
ritchie bros auctioneers (RBA:Toronto)
9500 Glenlyon Parkway
Burnaby, BC V5J 0C6
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