Ritchie Bros. Auctioneers Incorporated and its subsidiaries sell industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces. The company primarily sells equipment for its customers through unreserved auctions at 44 auction sites worldwide. During 2013, the company commercially launched EquipmentOne, an online used equipment marketplace to reach a 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 in 19 countries worldwide. Segments The company’s operations include two segments, Core Auction and EquipmentOne. Core Auction: This segment is a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding. EquipmentOne: This segment is a secure online marketplace that facilitates private equipment transactions. EquipmentOne — Online Used Equipment Marketplace EquipmentOne is a secure online marketplace designed for equipment owners who require higher levels of control through the selling process. Used equipment sellers use various channels to meet their needs and bringing the EquipmentOne channel to its customers provides an addition solution set for their selling needs. 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 is an online marketplace that equipment sellers could navigate independently. 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 pay the purchase price of the sale to the company to hold in escrow. When the funds are received, the seller is informed that they could release the sold equipment to the purchaser. When the purchaser provides approval to the company that the equipment is as advertised, the company then releases the net sales proceeds to the seller. Marketing and Sales In addition to regional marketing through the company’s sales representatives, it markets through its national accounts team to large multi-national customers, including rental companies, manufacturers and finance companies, who have equipment disposition requirements in various regions and countries. History Ritchie Bros. Auctioneers Incorporated was founded in 1958.
ritchie bros auctioneers
(RBA:Toronto Stock Exchange)
9500 Glenlyon Parkway
Burnaby, BC V5J 0C6
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