Ritchie Bros Auctioneers, the on-site and online industrial auctioneer, reached and exceeded US$5billion (€3.7billion) of online equipment sales in the fourth quarter of 2011.
Ritchie Bros. Auctioneers, the on-site and online industrial auctioneer, reached and exceeded US$5billion (€3.7billion) of online equipment sales in the fourth quarter of 2011.
The company, which introduced its real-time online bidding service in March 2002 as an enhancement of the live auction experience, reached the milestone at an unreserved public auction at its auction site in Hartford, Connecticut, USA.
“The idea in designing the online bidding service was to give people an online experience that comes as close as possible to matching the live experience,” said Bob Armstrong, chief operating officer, Ritchie Bros.
“When you’re participating online you can see the assets being sold, you can hear the auctioneer, you can see the numbers changing right before your eyes. It’s as close as possible to being there without the smell of diesel.”
