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 $1 billion of equipment through its online marketplaces over the past year (August 2019 to July 2020). In fact, Ritchie Bros.' IronPlanet solution just had its busiest July ever, selling 8,700 items for more than $58 million.
"The ease and comfort of buying and selling online has grown exponentially over the last several months," says Ann Fandozzi, CEO of Ritchie Bros. "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."
Ms. Fandozzi continued, "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.
There are currently more than 50,000 items available for purchase through Ritchie Bros. various marketplaces.