Ritchie Bros. Launches New Inspection Services Offering as Part of RB Asset Solutions

Tue December 17, 2019 - National Edition
Ritchie Bros. Auctioneers



For years IronPlanet and Asset Appraisal Services have been leaders in the equipment inspection business. IronPlanet has continuously raised the bar by offering innovative inspection content and technology for customers of its online marketplaces, including its IronClad Assurance equipment condition certification, which ensures buyers receive the equipment they expect. Asset Appraisal Services has become a recognized leader in the commercial truck inspection market by leveraging targeted expertise and proprietary technology solutions.

Since both were acquired by Ritchie Bros. in 2017, the company has continued to enhance its capabilities and the number of inspections has increased significantly. Now Ritchie Bros. is consolidating these two inspection service organizations to formally launch Ritchie Bros. Inspection Services, available to customers as part of its Ritchie Bros. Asset Solutions.

"We inspect hundreds of thousands of items every year," said Karl Werner, interim co-CEO and president, International, Ritchie Bros. "We believe we have the best inspection team and technology in the industry and are uniquely positioned to innovate and develop targeted solutions for our increasingly-sophisticated customer base."

In 2016, prior to the acquisition, IronPlanet and Asset Appraisal Services inspected more than 100,000 items. In 2019, post-acquisition, the team will surpass 215,000 items, taking 7.5 million photos and analyzing approximately 30,000 oil samples. Today the company has more than 300 full-time and contract inspectors.

"We continue to enhance the capabilities of RB Asset Solutions and Ritchie Bros. Inspection Services is a key extension to these solutions," said Randy Berry, who serves as senior vice president of digital operations and oversees the inspection team for Ritchie Bros. "We are privileged to already serve the inspection needs of many of the world's largest fleets, and we are now positioned to better scale our inspection services offerings and help even more customers with inspections in support of lease returns, financing, trade-ins, repossessions, private sale, asset verification and more."

Ritchie Bros. Asset Solutions is a complete end-to-end asset management and disposition solution. Its suite of tools includes an inventory management system, personalized web stores, data analytics, valuation tools, and now Ritchie Bros. Inspection Services, giving customers the capabilities and insights to make better disposition decisions.

For more information, visit RitchieBros.com.