Auction firm Ritchie reports strong results

Auction firm Ritchie Bros reports strong performance for its online construction machinery marketplace, EquipmentOne, in the first year since the service was set up. The service is complementary to the firm’s unreserved auction business and provides an online marketplace for the sale of equipment. The company says it offers buyers and sellers a place in which to negotiate, complete and settle transactions in a safe and transparent environment. This was initially launched in early 2013 and had a full commerc
February 6, 2014 Read time: 2 mins
Auction firm 318 Ritchie Bros reports strong performance for its online construction machinery marketplace, EquipmentOne, in the first year since the service was set up. The service is complementary to the firm’s unreserved auction business and provides an online marketplace for the sale of equipment. The company says it offers buyers and sellers a place in which to negotiate, complete and settle transactions in a safe and transparent environment. This was initially launched in early 2013 and had a full commercial launch in April. The Marketplace already has hundreds of thousands of qualified members around the world. Sellers can make their own listings or work with Ritchie Bros to create listings including equipment photos, detailed asset information, and price parameters. Negotiations take place using the Online Negotiation Engine. Buyers are able to make transparent offers for the seller's consideration during the listing period. When the listing period concludes and the item is sold, EquipmentOne provides financial settlement services to ease transactions.
Finance & Funding

Related Content

  • IronPlanet launches TruckPlanet online marketplace
    April 30, 2013
    IronPlanet, a leading online marketplace for used heavy equipment, has launched TruckPlanet, an online marketplace dedicated exclusively to buying and selling used commercial trucks. “We are very excited to bring the same marketplace that changed the used equipment business to the truck industry,” said Greg Owens, CEO of IronPlanet. “Truck buyers and sellers can now enjoy the convenience and confidence at TruckPlanet that our used equipment customers have come to know and trust at IronPlanet.” Since IronPla
    Read More
  • Dubai auction by Ritchie Bros. sets records for bidders
    September 11, 2015
    A two-day unreserved public auction in Dubai set a record for number of bidders, according to the auction organisers by Ritchie Brothers. More than US$42 million worth of construction equipment including trucks went under the hammer on September 8 and 9 in the United Arab Emirate member state. Eduard Faig, regional sales manager for Ritchie Brothers, said the event set new Dubai records for the total number of on-site bidders, reaching just over 920, and for the number of online bidders, more than 400
    Read More
  • Ritchie Bros scores strong sales at Canadian auctions
    June 17, 2014
    Auction firm Ritchie Bros has scored a strong sales performance after a series of three heavy equipment auctions in Edmonton, Canada. In all, the firm sold over C$300 million worth of equipment, with this latest auction held recently accounting for C$104 million of machines. The company sold over 5,350 items of heavy equipment to customers from all over the world with the units for sale coming from 863 different sellers and strong prices being achieved. In all there were some 5,800 bidders from over 50 coun
    Read More
  • Over 600 items at Ritchie Bros UK auction site debut
    April 13, 2012
    More than 630 items will go under the hammer during Ritchie Bros first ever industrial auction at its new Donington Park site in the East Midlands region of England. Starting at 9am on Tuesday April 17, the unreserved public auction will include more than 180 excavators, 70 dumpers, 43 tandem rollers, 39 telescopic forklifts, a number of wheel and backhoe loaders and many other machines for construction and agricultural industry use.
    Read More

Highlighted Content