VANCOUVER, BC (April 7, 2021) – Ritchie Bros. inspects tens of thousands of equipment items each month, in preparation for sale in one of its numerous sales solutions, including live/online auctions with Ritchie Bros. Auctioneers, weekly online marketplaces at IronPlanet, and a daily reserved solution in Marketplace-E. The company also inspects tens of thousands of additional items to support customers for lease returns, financing, trade-ins, repossessions, private sale, asset verification, and more. All in all, Ritchie Bros. Inspection Services and its 400+ team members completed more than 600,000 equipment inspections in 2020, taking over 15 million photos and analyzing hundreds of thousands of oil samples in its in-house fluid analysis lab.
"Ritchie Bros. is much more than auctions today. We offer a wealth of services, insights, and transaction solutions to help customers better manage and dispose of commercial assets," said Logan Mellott, Vice President, Commercial Operations, Ritchie Bros. "Ritchie Bros. inspections are needed by customers every day and we believe we have the best team and technology in the industry, uniquely positioning us to innovate and develop targeted services and solutions to meet the increasingly-sophisticated needs of our customer base."
With a wealth of new services and insights in recent years, Ritchie Bros. launched an end-to-end asset management and disposition tool called RB Asset Solutions in 2019. It includes a FREE inventory management system where customers can upload their fleet with photos and detailed info. From RB Asset Solutions, customers can also request an inspection, appraisal, and other services with a click of button.
"Inspections are needed throughout the lifecycle of an asset, not just prior to sale," added Mr. Mellott. "We want our customers to know that we are here to help them all year round. With RB Asset Solutions, Inspection Services, and the complete suite of tools we offer, Ritchie Bros. is here to help with your success."
For more information about Ritchie Bros. Inspection Services, contact RBAS@ritchiebros.com.
About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance(R) equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company's suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services For more information about Ritchie Bros., visit RitchieBros.com.
Photos and video for embedding in media stories are available at rbauction.com/media.
For more information, please contact:
Media Relations Manager