Journal Content

Journal Content

60 Years of Defining Our Industry

As Ritchie Bros. celebrates its diamond anniversary, we want to reflect on our company's incredible heritage and 60 years in the auction business, bringing buyers and sellers together from around the globe and across multiple generations. It's a remarkable milestone and we take great pride in serving customers this long as leaders in the heavy equipment auction industry.

Below you'll find some of the stories that define us, and perhaps get a glimpse of where we're headed next.

Evolution of the Auction

While the core model of our auctioning - honesty, fairness, high bid always wins – has remained the same, the mechanics and process have evolved dramatically.

Growth and expansion of Ritchie Bros.

Ritchie Bros. started with a single auction in British Columbia, Canada and has grown into an international business with multiple solutions to meet the many needs of its customers.

Auctions that made history

From selling equipment used in the Exxon Valdez disaster clean up to dispersing surplus equipment used to rebuild the battle-ravaged Falklands, Ritchie Bros. has seen its share of historical auctions.

Our gold-star customers

From humble beginnings to a global industry leader, we never lose sight of what got us here – our customers. Hear their stories about Ritchie Bros.

History about Ritchie Bros

2018

Largest auction ever US$278+ million of equipment & trucks Orlando, FL

2017

Ritchie Bros. acquires IronPlanet, creating a multi-channel asset management and disposition company.

2016

Launch of our mobile app

Acquisition of Mascus adds a listing service to our suite of solutions

2013

First auction in China – Beijing, China

2011

Introduction of Timed Auctions

2006

The Virtual Ramp is created to beat the heat in Dubai but is eventually rolled out to all our auction sites.

2004

A secondary offering provides the impetus for listing on the Toronto Stock Exchange.

2003

First auction in Africa – Durban, South Africa

2002

Introduction of real-time online bidding creates increased convenience for our global buyer base.

Acquisition of All Peace Auctions of Grande Prairie, AB puts Ritchie Bros. in the on-the-farm auction business.

2000

2000th auction

1999

Ritchie Bros. makes its first corporate acquisition: Forke Brothers

First auction broadcast on the Internet

1998

Ritchie Bros. Auctioneers goes public on the New York Stock Exchange. Cash raised from the IPO helps build a network of purpose-built auction facilities.

1997

First auction in the Middle East – Dubai, UAE

First auction in Japan – Yokosuka City, Japan

1996

rbauction.com launched

1995

First auction in Mexico – Mexico City

1994

First auction in Asia – Subic Bay, The Phillipines

1991

1000th auction

1990

Equipment used in clean up of Exxon Valdez disaster sells over four days, smashing registered bidder records – Anchorage, AK

1989

Edmonton, AB auction videoconferenced to the Agricom trade show to allow bidding from the show floor.

1987

First auction outside of North America. Items sold were used in rebuilding the war-ravaged Falkland Islands – Liverpool, UK.

1976

First permanent auction site established – Edmonton, AB

1970

First auction in the USA – Beaverton, OR

1963

First industrial auction (for Premier Construction Co.) and introduction of the ramp selling method, now a trademark of Ritchie Bros. auctions – Radium Hot Springs, BC.

1958

First auction for the Ritchie family furniture store at the scout hall Kelowna, BC, Canada