HIstory

1958 - First unreserved auction

Ritchie Bros. Auctioneers begins as a small family-run business in Kelowna, British Columbia, Canada. The three Ritchie brothers—Ken, Dave, John—conduct their first unreserved auction in 1958, selling CA$2,000 of surplus inventory from their furniture store to pay a bank debt.

1963 - First major unreserved industrial auction

The brothers soon progress beyond furniture and begin conducting more regular auctions. In 1963 they conduct their first unreserved industrial auction, selling US$600,000 worth of equipment.

1970 - Expansion to the United States

As demand for the company's unreserved auction services increase, Ritchie Bros. begins to expand across North America. It opens its first office outside Canada in 1969 in Washington State, followed by its first United States auction in Beaverton, Oregon in 1970

1976 - First permanent auction site

With its unreserved auctions well accepted within Canada, Ritchie Bros. opens its first permanent auction site in Edmonton, Alberta.

1987 - First auctions in Europe

First Europe auctions conducted in Liverpool, United Kingdom and in Moerdijk, the Netherlands.

1990 - First auction in Australia

First Australia auction conducted in Perth, Western Australia.

1994 - First auction in Asia

First Asia auction conducted conducted in Subic Bay, the Philippines.

1997 - First auction in the Middle East

First Middle East auction conducted in Dubai's Jebel Ali Free Zone.

1998 - First US$1 billion year

1998 - NYSE listing

Ritchie Bros. becomes a publicly listed company on the New York Stock Exchange.

2002 - Online bidding service introduced

Equipment buyers offered the convenience of bidding online in real time.

2003 - First auction in Africa

First Africa auction held in Durban, South Africa.

2004 - TSX listing

Ritchie Bros. is listed on the Toronto Stock Exchange.

2005 - First US$2 billion year

2007 - First US$3 billion year

2008 - First US$1 billion quarter

2010 - 21-language website launched

rbauction.com relaunches to include 21 languages and new saved search, watchlist and multi-lingual online bidding functionality.

2011 - US$1 billion of equipment sold to online bidders

2011 - New services launched

Ritchie Bros. launches financing, powertrain warranty and insurance services to equipment buyers.

2012 - 500th auction in Australia

We conduct the 500th auction in company history, in Brisbane, Australia.

2012- First US$200 million auction

US$203 million of equipment sold in six-day Orlando, Florida auction.

2013 - First auction in China

First China auction conducted in Beijing, China.

2013 - First auction in Finland

First Finland auction conducted in Tampere, Finland.