32
AUCTIONS
ACCESS, LIFT & HANDLERS
JULY-AUGUST 2014
A screen grab of IronPlanet’s
allEquip boom lift online
marketplace.
auctioneers of heavy equipment, introduced
EquipmentOne, a secure online marketplace for
people who prefer to buy and sell equipment
privately. EquipmentOne is designed for
materials as well as equipment and trucks, and
industrial assets, the company says.
“We conducted our first unreserved public
auction in 1958, introducing fairness and
transparency into the world of equipment
auctions,” says Peter Blake, Ritchie Bros CEO.
“Ritchie Bros. unreserved auctions will always
be the first choice for people who want all-
inclusive service, certainty of sale and global
market value.”
EquipmentOne provides customers
access to 2.5 million listings, including
equipment, trucks and related materials
from EquipmentOne sellers, Ritchie Bros.
auctions and hundreds of other sites.
Like rbauction.com, EquipmentOne is
designed for equipment, with photos and
specifications. Both negotiations and
transactions are completed on the secure
EquipmentOne site, and Ritchie provides
an escrow service for the protection of both
buyers and sellers.
Unlike full-service Ritchie Bros.
auctions, EquipmentOne is a do-it-yourself
website: members list equipment for sale, set
their price expectations, make purchase offers,
negotiate and complete transactions. If the
seller’s price expectations aren’t met during the
listing period, they have the choice to accept
the highest offer made, or to not sell.
In 2013, Ritchie Bros posted more than $3.8
billion in auction sales. A record $1.1 billion of
that was just in the fourth quarter.
However, it was a 3 percent decrease on the
previous year for the Canada-based company
that held 356 unreserved auctions around the
world in 2013.
“We achieved some notable milestones during
2013,” says Peter Blake, Ritchie Bros CEO.
“We’re pleased that our customers are finding
convenience through our online bidding option,
and comfort in the ability to test and inspect the
equipment being sold in our yards before each
auction. More than 43,000 consigners trusted
us to sell their equipment at our industrial
auctions during the year, and over 425,000
potential buyers registered to bid on items.”
For the first quarter of 2014, Ritchie
announced net earnings of $14.3 million, a 2
percent increase compared to net earnings
of $14 million during the same quarter last
year. The company’s revenues for the first
quarter of 2014 declined by 3 percent to
$98.6 million compared to $102.1 million
for the same period in 2013, primarily as a
result of the quarter’s revenue rate.
“We are generally pleased with our
performance during the first quarter,
despite the weather challenges our
customers faced in certain markets,”
noted Blake.
During the first quarter of 2014,
Ritchie Bros conducted 35 unreserved
industrial auctions in 11 countries
throughout North America,
Europe, the Middle East
and Australia.
■
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