Ritchie Bros. passes $5 billion in online sales

Ritchie BrosRitchie Bros. Auctioneers exceeded $5 billion of online equipment sales in the fourth quarter of 2011. Ritchie Bros., rbauction.com, hit this milestone on Oct. 6 at an unreserved public auction at its site in Hartford, Connecticut.

Close to 50 percent of the people bidding at Ritchie Bros. auctions participate online in real time; the others participate in person at the auction site.

In April 2010, Ritchie Bros. launched a new 21-language website at the Bauma trade show in Germany. The new rbauction.com features current inventory and equipment search in 21 languages, auction results in 14 languages and live online bidding in seven languages.

Facts about online bidding at Ritchie Bros.

Amount sold online (2002 – 2011): $5+ billion

Amount sold online (January – October 2011): $880 million

Registered bidders – total (January – October 2011): 318,000

Registered bidders – online (January – October 2011): 152,000 (48%)

Amount sold online (2010): $830 million

Registered bidders – total (2010): 343,000

Registered bidders – online (2010): 146,000 (43%)

Online bidding introduced: 2002

See a behind-the-scenes look at the Ritchie Bros. online bidding service by visiting youtu.be/XUP4nBAyyr8.