Ritchie Bros Auctioneers, was started in Canada in late 1950’s, holding their first unreserved industrial auction in 1963. Rapid expansion followed. After holding auctions all over Canada, Ritchie Bros. held their first auction in the US in 1970, and established their first permanent auction site in Edmonton in 1976. The company very quickly decided that having their own exclusive sites was the best option for them so that they always have plenty of room to run some of the biggest auctions in the world, and their vendors and buyers can both be confident that their equipment is secure during the time between it being consigned and it being picked-up by the successful bidder.
Ritchie Bros held their first US auction in 1970. European auctions began in 1987, and were followed rapidly by expansion into Australia, Asia and the Middle East. Ritchie Brothers is now the biggest industrial auctioneers in the world, with gross auction proceeds in excess of $3 billion, is quoted on the NYSE and TSX, and has recently started holding auctions in China and Japan. They are also far and away the biggest on-line seller of industrial equipment. … Read More