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

  • More than 600 construction equipment items at UK auction
    February 8, 2013
    Ritchie Bros. Auctioneers is selling more than 600 construction equipment items, tractors and trucks at an unreserved auction being held in Donington Park, central England tomorrow. Among the auction highlights will be 10 wheeled loaders (including Caterpillar 988G and 966G), 26 hydraulic excavators, 47 mini excavators, 51 telescopic forklifts, 37 compactors and six rock trucks (Caterpillar 777D & 777E). The Canadian firm’s auction site, which is situated right next to the Donington Park racing track, was d
    Read More
  • IronPlanet passes 1 million registered auction users
    February 20, 2014
    IronPlanet, an online marketplace for buying and selling used heavy equipment, has surpassed one million users who have registered to view equipment for sale and participate in online auctions at IronPlanet.com. “This is an exciting milestone for us because it demonstrates that more than one million users recognize IronPlanet as a trusted marketplace for buying and selling equipment,” said Greg Owens, CEO, IronPlanet. “We’ve attracted these users because of our ongoing dedication to innovation, customer se
    Read More
  • Ritchie Bros. two-day Australian auction sales bonanza
    September 6, 2012
    Ritchie Bros. Auctioneers is preparing for a two-day Australian construction machinery sales bonanza. The world renowned Canadian industrial equipment auctioneers will auction off 75 wheeled loaders and 70 hydraulic excavators at unreserved public auctions in Brisbane, Queensland on September 18, and Geelong, Victoria on September 20. Nearly 1,350 pieces of equipment in total will be sold over the two auctions—with each piece being sold to the highest bidder, regardless of price—without minimum bids or rese
    Read More
  • Ritchie Bros’ unreserved Romanian auction planned
    August 15, 2014
    Strong sales are expected at the Ritchie Bros unreserved auction in Romania. In excess of 700 items of heavy equipment or trucks are being put up the sale. The auction event will be carried out close to Cluj-Napoca on September 9th and the items on sale include a large quantity of dump trucks, wheeled loaders, bulldozers, compactors and graders. This event will be the company’s first-ever auction in Romania. The items are being sold on behalf of a large contractor and all units on sale will be sold to the h
    Read More

Highlighted Content