Ritchie Bros. launches new online auction site

Ritchie Bros. the world's largest seller of used industrial equipment, today announced its commerical launch of EquipmentOne, an online listing site with new features and functionality for both buyers and sellers. Complementary to the company's flagship unreserved auction business, Ritchie Bros. EquipmentOne (www.EquipmentOne.com) is a safe and secure online marketplace for the private sale of equipment and materials where buyers and sellers can negotiate, complete and settle their transactions all in one safe and transparent environment.

"Ritchie Bros. EquipmentOne offers sellers control of the selling price and process while providing buyers complete transparency and security ?it's unlike any other marketplace in the industry," said Bob Armstrong, Chief Strategic Development Officer of Ritchie Bros. "Ritchie Bros. Auctioneers has been helping the world's builders exchange equipment with our unreserved auctions for more than 50 years ?in 2012 we sold $3.9 billion of equipment ?it's a growing and profitable business. Still, our current estimate of the global used equipment market suggests it is in excess of $200 billion in annual transaction value with approximately half of all equipment transactions taking place on a private treaty basis. With Ritchie Bros. EquipmentOne we are now able to provide these private treaty buyers and sellers a safe, convenient and profitable way to exchange equipment and materials."

Qualified members from anywhere in the world are able to buy on Ritchie Bros. EquipmentOne. Membership is free. Members can create personal equipment watchlists, save searches and have access to the Ritchie Bros. Orange BookTM, a market reference tool that shows recent pricing for equipment of similar type, age and usage. By highlighting a market activity zone of prices where buyers and sellers are most active, the Orange Book is designed to help sellers determine a reasonable asking price and help buyers determine reasonable prices to offer.

The Ritchie Bros. EquipmentOne marketplace has an intuitive self-serve listing tool that is currently available to equipment sellers in the United States. Self-serve listing functionality for Canadians is expected to launch later this year, with further international expansion in 2014.