Ritchie Bros. launched new equipment financing, warranty, insurance services

|  July 13, 2011 |

New customer services designed to make the Company’s auctions easier and allow customers to bid with more confidence
 
Ritchie Bros. Auctioneers announced the launch of a bundle of new services. Services which include detailed equipment information, real-time auction results through www.rbauction.com, equipment financing, powertrain service warranties and property and cargo insurance, will enhance the wide range of customer services already offered by the company, including  auction facilities, bidding options, on-site refurbishing services and a 21-language web site.
 
Detailed Equipment Information – launched globally July 1, 2011
The Ritchie Bros.’ website will provide detailed equipment information will include up to 50 high-resolution photographs of each item, allowing customers to clearly see key components of an item, along with a multi-point summary of those components and comments on basic functionality. 
  
Real-time auction results – launched globally July 1, 2011
Ritchie Bros. will provide real-time auction results for all customers viewing its auctions online. Customers will instantly be able to see how much items have sold for and will be able to scroll back to see pricing for items they may have missed earlier in the day.
  
Equipment Financing – launched in the U.S. & Canada on July 1; launching in Europe & remaining global operations in 2012
Ritchie Bros. Financial Services (RBFS) has partnered with leading equipment finance providers to bring no-obligation financing options to Ritchie Bros. customers. Financing options include equipment loans and lease-to-own programs.
  
Powertrain Service Warranties – launched in the U.S. & Canada on July 1; launching in Europe & remaining global operations in 2012
Ritchie Bros. customers are now able to purchase an optional powertrain service warranty for select equipment. All warranties are underwritten by AmTrust Group. 
 
On-site Property & Cargo Insurance – launched in the U.S., Canada, Europe & Australia on July 1; launching in remaining global operations in 2012
On-site property insurance will protect a customer’s equipment while it is on a Ritchie Bros. auction site; cargo insurance will protect a customer’s equipment while it is in transit to or from a Ritchie Bros. auction site. Both of these insurance products are brokered by Marsh.

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