Ritchie Bros.’ IronPlanet Marketplace Experienced Its Busiest July Ever

Ritchie Bros sold close to 8,700 items sold through IronPlanet in July and surpassed US$1 billion sold through its online marketplaces over 12-month period (August 2019 – July 2020)

In the first half of 2020, Ritchie Bros. attracted 73 million visits to its various web platforms, so it should come as no surprise that the company has sold more than US$1 billion of equipment through its online marketplaces over the past year (August 2019 – July 2020). In fact, Ritchie Bros.’ IronPlanet solution just had its busiest July ever, selling 8,700 items for more than US$58 million. Ann Fandozzi, Chief Executive Officer, Ritchie Bros. said:

“The ease and comfort of buying and selling online has grown exponentially over the last several months. Sellers need to reach buyers beyond their local market to maximize results and buyers are willing to go the extra mile in search of a deal. In an ever-increasing ‘no touch world’ we have adapted to make sure our customers can get the equipment they need safely and efficiently. We offer inspection reports backed by IronClad Assurance, tons of photos, service records, and anything else a buyer may need to feel comfortable prior to bidding online.”

In first half of 2020, Ritchie Bros. has sold more than 308,000 items across all its platforms. More than 6.1 million bids were placed on these items (approx. 19 bids per item), selling to buyers from 140 different countries.

2020 IronPlanet sales highlights (IronPlanet auctions are held every Thursday)

• A 2010 Caterpillar D10 dozer sold from Australia for US$346,000+
• A 2017 Soilmex SR30.23 EVO crawler-mounted piling drill rig from Australia sold for US$315,000+
• A John Deere 859M track feller buncher from Washington, USA sold for US$315,000

2020 Marketplace-E sales highlights (24/7 reserved marketplace for specialized assets):

• A Rheinwerft self-propelled seagoing barge w/ a 2014 Sennebogen 7700 crawler crane located in Germany sold for US$2.83 million
• A 2012 Caterpillar 6040 front shovel from the Netherlands sold for US$2.82 million
• A 120-acre industrial property in California, USA sold for US$1.88 million

Source: Ritchie Bros.