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Ritchie Bros. Sells $500M of Equipment Through Marketplace-E in 12 Months

Mon September 20, 2021 - National Edition
Ritchie Bros. Auctioneers

Ritchie Bros. launched its Marketplace-E solution as a price-controlled option for consignors with make offer and buy now formats. In 2021, this new solution is continuing to gain steam, with more than $500 million of equipment sold through Marketplace-E over the past 12 months.

"We have built out an amazing team of multilingual Marketplace-E Specialists who leverage Ritchie Bros. analytics and real-time demand data to help you find the right buyer," said Kari Taylor, chief revenue officer, Ritchie Bros. "As a result of these changes, items are selling approximately 40 percent faster on Marketplace-E today"

Ritchie Bros. continues to increase the presence of Marketplace-E across all its websites, driving more buyers than ever to the site, the company said.

This year Marketplace-E has helped more than 2,500 customers sell items, including North American rental company Sunbelt Rentals, which has a fleet of 600,000 assets across its 975 rental locations.

"We are a long-time Ritchie Bros. customer and are pleased with our partnership and their ongoing investments made on behalf of Sunbelt Rentals. This allows us to focus on our core business of delivering world class customer service and solutions. The Ritchie Bros. team continues to focus on innovative ways to improve fleet disposal, asset management, and recovery against OEC," said James Dennis, vice president fleet management at Sunbelt Rentals.

"We now have access to an expanded footprint and tools to help us better manage how, when, where and what price to sell our assets — because we have the flexibility of choosing the proper Richie Bros channels, using a Ritchie Bros. location, or remarketing directly by Sunbelt we are improving the efficiency of our disposition process as well as recovery on equipment sold."

Five Big Marketplace-E Sellers in 2021:

  • 2019 (unused) CMI asphalt plant — sold from Newfoundland and Labrador in Canada
  • 2015 Elrus aggregate crushing spread — sold from Manitoba
  • 2013 Vermeer T1255III trencher with rotating milling drum — sold from Germany
  • 2015 Caterpillar D8T dozer — sold from North Dakota
  • 2018 Caterpillar 349FL excavator — sold from Texas

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