Ritchie Bros. Auctioneers

Last updated
Ritchie Bros. Auctioneers Incorporated
Type Public company
Industry Auctions & Industrial products distribution
Founded Kelowna, British Columbia, Canada
Founder David Edward Ritchie
Headquarters Chicago, Illinois, United States
Key people
Erik Olsson (Chairman)
Jim Kessler (CEO)
Number of employees
7,700+
Website ritchiebros.com

Ritchie Bros. Auctioneers (RBA), or simply Ritchie Bros., [1] is a publicly traded Canadian company based in Chicago, Illinois. Its common shares are traded on the New York and Toronto stock exchanges. [2]

Contents

History

The Ritchie Brothers

Ritchie Bros. Auctioneers was established in Kelowna, British Columbia, Canada. A Canadian company which the three Ritchie brothers – Ken, John and Dave Ritchie – took over the OK Used Furniture Store from their father in 1955. They entered the auction business in 1958 when they needed CA$2,000 to pay a bank debt on short notice. A friend suggested they conduct an auction to get rid of some surplus inventory from the furniture store. They conducted their first auction at the Scout Hall in Kelowna in 1958 and discovered a new way of doing business. [3]

Starting with that first auction at the Scout Hall, Ritchie Bros. maintained a strict policy of conducting unreserved auctions – meaning there were no minimum bids and no reserve prices. The brothers also established a policy of not allowing bid-ins or buybacks by the sellers. [4] : 23 

The brothers began conducting auctions more regularly and in 1958 incorporated Ritchie Bros. Auction Galleries Ltd. to formalize their new business. [4] : 17  Ritchie Bros. began selling used equipment in the 1960s. In 1963 Dave Ritchie moved to Vancouver, B.C. and rented an auction site on S.E. Marine Drive. He set up the company's first equipment auction in Vancouver shortly after. [4] : 24 

The Ritchie brothers conducted their first major unreserved industrial auction in Radium Hot Springs, British Columbia on June 7, 1963. They sold CA$663,000 of equipment in one day – by far the largest auction in the company's history. [4] : 25 

The success of the Radium Hot Springs auction convinced the brothers that they could make more money auctioning used equipment than selling furniture, so they sold their furniture store in Kelowna and went into the auction business full-time. [5]

Ritchie Bros. Auctioneers established one of the trademarks of its auctions at the Radium Hot Springs auction. It was raining on the day of the auction. Instead of making the bidders walk around in the rain during the auction, they set up the auction under the eaves of a nearby shop and drove the equipment in to be sold piece by piece. The crowd stayed dry and the ramp-and-stage method became a fixture at Ritchie Bros. auctions thereafter. [4] : 25, 27 

50 years of unreserved industrial auctions

On June 7, 2013, Ritchie Bros. celebrated 50 years since the company's first major unreserved industrial auction in Radium Hot Springs, British Columbia. It was at this Radium Hot Springs auction that Ritchie Bros. adopted the ramp-and-stage approach for selling all mobile equipment. This approach involves a staging area —designed as a ramp— located in front of a viewing theater, where bidders sit waiting for mobile equipment to come to “center stage.” Each piece of equipment is numbered and, once it comes to rest at the center of the ramp, the auctioneer begins asking for bids. The crowd of bidders signals their bid increments to roving “bid catchers,” who in turn signal the auctioneer when a bid is made. The auctioneer increases the call price until there are no more bids being placed. At a Ritchie Bros. auction, bids are called until no more are forthcoming in approximately one minute, when the auctioneer calls that the item has been “sold!” to the highest bidder.

The company has pioneered the ramp-and-stage method and unreserved industrial auctions around the world ever since the auction at Radium Hot Springs on June 7, 1963.

The early auction years

Most of the company's earliest auctions were held in British Columbia. Ritchie Bros. began expanding into other parts of Canada in the mid-1960s, conducting its first auctions in Alberta (in 1964), the Yukon (1964), Saskatchewan (1965), Manitoba (1968), and other parts of Eastern Canada shortly thereafter. [4] : 35, 39 

In 1965, Ken Ritchie left the company to spend more time with his family and the company's name was changed from Ritchie Bros. Auction Galleries Ltd. to Ritchie Bros. Auctioneers Ltd. [4] : 35  Ken established his own auction company, but returned to work with his brothers in 1968. He stayed with Ritchie Bros. Auctioneers until 1980. [4] : 39, 48, 70 

In 1968, Ritchie Bros. Auctioneers held its first auction with gross proceeds in excess of CA$1 million, in Edmonton, Alberta, Canada. [4] : 39  Edmonton was also the site of the company's first permanent auction site (on company-owned land), which was established in 1976. Until then, Ritchie Bros. had been conducting its auctions on leased land. [6]

Expansion in the U.S.

Ritchie Bros. established its first presence outside Canada in 1969 when it became incorporated in Washington, USA. [4] The company held its first auction outside Canada in 1970, in Beaverton, Oregon, and gradually began expanding throughout the United States. [6]

In 1974, John Ritchie left the company, selling his share of the business to his brother Dave. In 1975, Dave Ritchie – the sole company shareholder – decided to sell partnerships in Ritchie Bros. Auctioneers to some of his key employees: Dick Bartel, C. Russell (“Russ”) Cmolik, Ken Ritchie, and Bill Gronberg. [4] : 46  Over the coming years, the partnership expanded to include Bob Carswell, Marvin Chantler, Ed Banser, Roger Rummel, Bob Brawley, Ken Asbury, John Wild, Marty Pope, Mark Clarke, Don Chalmers, Sylvain Touchette, Frank McFadden, and Mike Ritchie. [4] : 48, 70, 71, 73, 75, 76, 78, 88  When Ritchie Bros. went public in 1998, Ken Ritchie and Bill Gronberg no longer owned shares in the company.

By 1985, Ritchie Bros. Auctioneers had sold more than US$1 billion of equipment through unreserved auctions. It took only three more years for the company to gross another US$1 billion in sales. [6]

International expansion

In the late 1980s Ritchie Bros. Auctioneers began to look overseas for further growth opportunities. The company conducted its first auctions outside North America in 1987, in Liverpool, the U.K., and Rotterdam, the Netherlands. The equipment sold at the Liverpool auction had been used to rebuild the Falkland Islands following the war there. [4] : 79  Further international expansion followed with the company's first auctions in Australia (1990), Mexico (1995), the Middle East (1997), Africa (2003), China (2013), and Finland (2013). [6]

In 1991, the company achieved another milestone when it conducted its 1,000th unreserved auction. It conducted its 2,000th auction in the year 2000. [6]

The role of technology

In 1989, Ritchie Bros. became the first industrial auction company to enable remote bidding via video when it broadcast its Edmonton auction live at the Agricom trade show in Edmonton, Alberta, Canada. Video simulcasts were held at trade shows in 1993 and 1995, followed in 1997 by a three-way videoconferenced auction that linked separate auction sites in St. Paul, Minnesota; Kansas City, Missouri; and Clinton, Wisconsin. Equipment was located at all three sites, and interested buyers could bid at any of the sites, which were linked via video. [4] : 91, 98 

The company launched its website, rbauction.com, at the ConExpo trade show in Las Vegas, Nevada, USA in 1996. The site featured a searchable database that enabled customers to see all of the equipment being sold in upcoming Ritchie Bros. auctions. [4] : 104 

In March 1999, Ritchie Bros. broadcast an auction over the Internet for the first time. [7] In March 2002, Ritchie Bros. introduced its real-time Internet bidding service. [8]

In 2016, Ritchie Bros. launched its mobile app, allowing people to search, find and bid on equipment via mobile devices.

In 2018, the company launched RB Asset Solutions, a cloud-based asset management and disposition system with a complete inventory management system, data analytics and dashboards, e-commerce sites, and other functions.

Going public

In 1998, the year that Ritchie Bros. went public, the company's annual gross auction proceeds exceeded US$1 billion for the first time ever. [9] Its common shares were listed on the New York Stock Exchange under the symbol RBA in March 1998, followed by listing on the Toronto Stock Exchange in April 2004. [10]

Network of auction sites

Investing in permanent auction sites has been a company priority since the 1970s. Ritchie Bros. opened its first permanent auction site in Nisku (Edmonton), Alberta, Canada in 1976. Before going public in 1998, the company opened additional permanent auction sites in Vancouver, B.C. (in 1979); Prince George, B.C. (1980); Denver, Colorado (1985) – the first site in the U.S.; Phoenix, Arizona (1987); Toronto, Ontario (1988); Tampa, Florida (1995); Atlanta, Georgia (1996); Minneapolis, Minnesota (1991); Houston, Texas (1993); Fort Worth, Texas (1994); Olympia, Washington (1994); and Halifax, Nova Scotia (1997). [11]

Since then, Ritchie Bros. has added auction sites in eight other countries. Today, the company has 40+ auction sites worldwide including: [12]

Acquisitions

In 1999, Ritchie Bros. acquired Forke Brothers, an equipment auction company based in Nebraska, USA and one of its major competitors. The company moved its U.S. headquarters to Lincoln, Nebraska following the acquisition. [4] : 116  Ritchie Bros. made its foray into the agricultural equipment auction business with the acquisitions of All Peace Auctions of Grande Prairie, Alberta, Canada in 2002; LeBlanc Auction Service of Estevan, Saskatchewan, Canada in 2004; [13] Dennis Biliske Auctioneers of Buxton, North Dakota, USA in 2006; Clarke Auctioneers of Rouleau, Saskatchewan, Canada in 2007; [4] and Martella Auction Company of Tipton, CA in 2009. [14] In August 2016, the company announced its plan to acquire IronPlanet, Inc., an online auction company. The deal was approved by the DOJ and closed in May 2017. [15] In 2016, Ritchie Bros. also acquired Petrowsky Auctioneers [16] based in North Franklin, CT and Kramer Auctions, [17] a Canadian agricultural auction company based in North Battleford, SK. In 2018, Ritchie Bros. acquired Leake Auction Company, an Oklahoma-based collector car auctioneer. [18] In August 2021, the acquisition of Euro Auctions, a Northern Ireland auction house that buys and sells industrial plant, construction equipment, and agricultural machinery for £775 million was announced. [19] That acquisition attempt was discontinued in April 2022. In March 2023, Ritchie Bros. completed the acquisition of U.S. auto retailer IAA Inc. in a stock and cash deal worth $7 billion. [20] [21] It was announced in May 2023 a new name for the parent company, RB Global. [22]

Notable auctions

Among the notable auctions conducted by Ritchie Bros. Auctioneers: construction and other equipment used to rebuild the airport, shipyard and other facilities after the Falkland Islands war (1987); almost 9,800 items and pieces of equipment used in the US$1 billion cleanup operation following the Exxon Valdez oil spill in Alaska (1990) and the equipment used to build the Confederation Bridge that links the province of Prince Edward Island with the Canadian mainland (1997).

Ritchie Bros. also conducted the world's largest industrial equipment auction, and their largest in company history, in Orlando, FL in February 2019. The company sold more than US$297 million worth of equipment and trucks over six days (February 18–23, 2019). [23] The auction featured more than 13,350 heavy equipment items and trucks and attracted more than 15,900 bidders from 88 countries. [23]

50th anniversary

Ritchie Bros. celebrated its 50th anniversary in 2008. As a gift to the heavy equipment industries it launched RitchieWiki in September 2008 at MINExpo International in Las Vegas, Nevada.

In 2008 Ritchie Bros. Auctioneers Inc. conducted 340 unreserved industrial and agricultural auctions generating gross auction proceeds of US$3.58 billion. [24] The company sold more than 253,000 lots from 37,000 consignments and processed 277,000 bidder registrations. Of those, 84,000 were successful buyers with a total of 16,000 buyers purchasing their equipment online. [25]

Operations

In 2022, Ritchie Bros. reported US$6 billion in total Gross Transactional Value (GTV).

Management

Ann Fandozzi is Ritchie Bros.' CEO. Other notable management team members at Ritchie Bros. include Jim Kessler (President & COO), Eric Jacobs (CFO), Matt Ackley (Chief Digital Officer), Carmen Thiede (Chief Transformation & People Officer), Jeff Jeter (Chief Revenue Officer), Baron Concors (Chief Product & Technology Officer), Kevin Geisner (Chief Strategy Officer), and Darren Watt (Chief Legal Officer). [26]

The board of directors of Ritchie Bros. includes Erik Olsson (Chair of the Board), Ann Fandozzi, Brian Bales, Bill Breslin, Adam DeWitt, Robert Elton, Lisa Hook, Tim O'Day, Sarah Raiss, Michael Sieger, Jeffrey Smith, and Carol Stephenson. [27]

Related Research Articles

<span class="mw-page-title-main">Auction</span> Process of offering goods or services up for bids

An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with auction types and participants' behavior in auctions is called auction theory.

eBay American multinational e-commerce corporation

eBay Inc. is an American multinational e-commerce company based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995 and became a notable success story of the dot-com bubble. eBay is a multibillion-dollar business with operations in about 32 countries, as of 2019. The company manages the eBay website, an online auction and shopping website in which people and businesses buy and sell a wide variety of goods and services worldwide. The website is free to use for buyers, but sellers are charged fees for listing items after a limited number of free listings, and an additional or separate fee when those items are sold.

<span class="mw-page-title-main">Yukos</span> 1993–2007 Russian oil and gas company

OJSC "Yukos Oil Company" was an oil and gas company based in Moscow, Russia. Yukos was acquired from the Russian government by Russian oligarch Mikhail Khodorkovsky's Bank Menatep during the controversial "loans for shares" auctions of the mid 1990s. Between 1996 and 2003, Yukos became one of the biggest and most successful Russian companies, producing 20% of Russia's oil output. In the 2004 Fortune 500, Yukos was ranked as the 359th largest company in the world. In October 2003, Khodorkovsky—by then the richest person in Russia and 16th richest person in the world—was arrested, and the company was forcibly broken up for alleged unpaid taxes shortly after and declared bankrupt in August 2006. Courts in several countries later ruled that the real intent was to destroy Yukos and obtain its assets for the government, and act politically against Khodorkovsky. In 2014, the largest arbitration award in history, $50 billion (€37.2 billion), was won by Yukos' former owners against Russia. This $50 billion award by the Permanent Court of Arbitration was ruled invalid by the District court in The Hague in 2016, but reinstated by the Court of Appeal of the Hague in 2020.

<span class="mw-page-title-main">Sotheby's</span> International auction house

Sotheby's is a British-founded multinational corporation with headquarters in New York City. It is one of the world's largest brokers of fine and decorative art, jewellery, and collectibles. It has 80 locations in 40 countries, and maintains a significant presence in the UK.

<span class="mw-page-title-main">Dutch auction</span> Type of auction which begins with a high asking price, and lowers it.

A Dutch auction is one of several similar types of auctions for buying or selling goods. Most commonly, it means an auction in which the auctioneer begins with a high asking price in the case of selling, and lowers it until some participant accepts the price, or it reaches a predetermined reserve price. This type of price auction is most commonly used for goods that are required to be sold quickly such as flowers, fresh produce, or tobacco. A Dutch auction has also been called a clock auction or open-outcry descending-price auction. This type of auction shows the advantage of speed since a sale never requires more than one bid. It is strategically similar to a first-price sealed-bid auction.

Empire Company Limited is a Canadian conglomerate engaged mostly in food retail and corporate investments. Founded in 1963, the company is headquartered in Stellarton, Nova Scotia and owns the Sobeys supermarket chain. In total, the company owns, affiliates or franchises more than 1,500 stores; in addition to Sobeys, brands include Safeway, IGA, Foodland, Farm Boy, FreshCo, Thrifty Foods and Lawtons Drug.

<span class="mw-page-title-main">Shaw Communications</span> Former Canadian communications company

Shaw Communications Inc., stylized as Shaw), was a Canadian telecommunications company which provided telephone, Internet, television, and mobile services. The company was founded in 1966 as Capital Cable Television Company, Ltd. by JR Shaw in Edmonton. The company was acquired by and amalgamated into Rogers Communications in 2023; most operations were rebranded to the Rogers brand beginning in July of that year.

<span class="mw-page-title-main">Suncor Energy</span> Canadian energy company

Suncor Energy is a Canadian integrated energy company based in Calgary, Alberta. It specializes in production of synthetic crude from oil sands. In the 2020 Forbes Global 2000, Suncor Energy was ranked as the 48th-largest public company in the world.

<span class="mw-page-title-main">Bonhams</span> Auction house of fine art and antiques

Bonhams is a privately owned international auction house and one of the world's oldest and largest auctioneers of fine art and antiques. It was formed by the merger in November 2001 of Bonhams & Brooks and Phillips Son & Neale. This brought together two of the four surviving Georgian auction houses in London, Bonhams having been founded in 1793, and Phillips in 1796 by Harry Phillips, formerly a senior clerk to James Christie.

<span class="mw-page-title-main">Spectrum auction</span> Government auction of radio spectrum

A spectrum auction is a process whereby a government uses an auction system to sell the rights to transmit signals over specific bands of the electromagnetic spectrum and to assign scarce spectrum resources. Depending on the specific auction format used, a spectrum auction can last from a single day to several months from the opening bid to the final winning bid. With a well-designed auction, resources are allocated efficiently to the parties that value them the most, the government securing revenue in the process. Spectrum auctions are a step toward market-based spectrum management and privatization of public airwaves, and are a way for governments to allocate scarce resources.

A bidding fee auction, also called a penny auction, is a type of all-pay auction in which all participants must pay a non-refundable fee to place each small incremental bid. The auction is extended each time a new bid is placed, typically by 10 to 20 seconds. Once time expires without a new bid being placed, the last bidder wins the auction and pays the amount of that bid. The auctioneer profits from both the fees charged to place bids and the payment for the winning bid; these combined revenues frequently total more than the value of the item being sold. Empirical evidence suggests that revenues from these auctions exceeds theoretical predictions for rational agents. This has been credited to the sunk cost fallacy. Such auctions are typically held over the Internet, rather than in person.

Auction chant is a rhythmic repetition of numbers and "filler words" spoken by auctioneers when taking bids at an auction. Auction chanting is an almost universal method of conducting live auctions in North America where it is practiced in English, Spanish, French and other languages. It is much less common outside North America, and the most notable exceptions within North America are auction houses with significant ties elsewhere in the world such as art brokerages. The chant consists of at least the current price, the asking price to outbid and words to keep the audience engaged. Auctioneers typically develop their own style, and competitions are held to judge them. Outside of auctions, the chant has been the subject of music and used in commercials and film.

<span class="mw-page-title-main">Thermo Fisher Scientific</span> Provisioner of scientific consumables, equipment, and services

Thermo Fisher Scientific Inc. is an American supplier of analytical instruments, life sciences solutions, specialty diagnostics, laboratory, pharmaceutical and biotechnology services. Based in Waltham, Massachusetts, Thermo Fisher was formed through the merger of Thermo Electron and Fisher Scientific in 2006. Thermo Fisher Scientific has acquired other reagent, consumable, instrumentation, and service providers, including Life Technologies Corporation (2013), Alfa Aesar (2015), Affymetrix (2016), FEI Company (2016), BD Advanced Bioprocessing (2018), and PPD (2021).

uShip Texas-based Internet company

uShip, Inc. is an Austin, Texas-based Internet company that operates uShip.com, an online marketplace for shipping services. Individuals and businesses post items they need shipped in a variety of categories, including auto transport, boat shipping, moving services, and the transport of heavy industrial equipment.

Shaw Media was the television broadcasting division of Shaw Communications. It owned the Global Television Network, which broadcasts nationally via 13 television stations, as well as 19 specialty channels including Slice, HGTV Canada, Showcase, Food Network Canada, and History. Shaw Media consisted of the broadcasting assets of the former Canwest. Shaw Media properties were acquired in April 2016 by sister company Corus Entertainment.

Bid on the City (BidOnTheCity.com), launched in New York City in April 2009, the first live online real estate auction site to use real time video and audio streaming. Inspired by Rita Yanovitsky, Licensed Auctioneer. The firm was co-founded by Albert Feinstein and Vlad Sapozhnikov with more than $3,000,000 of initial investment. Currently, it operates in New York City, Westchester, the Hamptons, Florida London, England, and Moscow (Russia).

Highway Technologies, Inc. was a large, Houston-based US construction company with offices in 33 cities that filed for bankruptcy in May 2013, laying off 740 of its 825 employees. The company was founded 30 years ago.

<span class="mw-page-title-main">Government auction</span> Auction held for state-owned or state-sold property

A government auction or a public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government or property which is sold under the authority of a court of law or a government agency with similar authority.

<span class="mw-page-title-main">Jazz (mobile network operator)</span> Pakistani telecommunications company

Pakistan Mobile Communications Limited (PMCL), doing business as Jazz, (Urdu: جاز) is Pakistan's largest mobile network and internet services provider formed by the merger of Mobilink and Warid Pakistan.

Euro Auctions is a Northern Ireland auction house that buys and sells industrial plant, construction equipment and agricultural machinery worldwide. Euro Auctions was founded in 1998 in Dromore, County Tyrone, by Derek Keys and his brothers.

References

  1. ↑ "Ritchie Bros". Archived from the original on 2018-11-09. Retrieved 2018-11-09.
  2. ↑ "About Ritchie Bros. Ritchie Bros. website. 2008-09-09". Rbauction.com. Archived from the original on 2010-02-01. Retrieved 2010-02-16.
  3. ↑ "NEWS RELEASE Okanagan Logging Contractor Hires Ritchie Bros. Auctioneers for Complete Dispersal. Ritchie Bros. unreserved auction to be held on the Westside on May 25" (PDF). Ritchie Bros. May 1, 2006. Archived from the original (PDF) on August 13, 2006. Retrieved 2010-02-16.
  4. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Jeffrey L. Rodengen, The Legend of Ritchie Bros. Auctioneers (Write Stuff Enterprises Inc., 2004)
  5. ↑ "RB History. Funding Universe. 2008-09-09". Fundinguniverse.com. Archived from the original on 2009-11-24. Retrieved 2010-02-16.
  6. 1 2 3 4 5 "History. Ritchie Bros. website. 2008-09-09". Rbauction.com. Archived from the original on 2010-02-10. Retrieved 2010-02-16.
  7. ↑ "Company History. Funding Universe. 2008-09-09". Fundinguniverse.com. Archived from the original on 2009-11-24. Retrieved 2010-02-16.
  8. ↑ "News. Ritchie Bros. website. 2008-09-09". Rbauction.com. 2002-03-21. Archived from the original on 2009-06-06. Retrieved 2010-02-16.
  9. ↑ March 31, 1999 Annual Report – English Annual Report. Sedar. 2008-09-09. Archived 2016-03-03 at the Wayback Machine
  10. ↑ "News. Ritchie Bros. website. 2008-09-09". Rbauction.com. Archived from the original on 2009-09-01. Retrieved 2010-02-16.
  11. ↑ April 6, 1998 Long Form Prospectus – English Company Documents. Sedar. 2008-09-09. Archived 2016-03-03 at the Wayback Machine
  12. ↑ Auctioneers, Ritchie Bros. "Auction Sites and Local Representatives - Ritchie Bros. Auctioneers". www.rbauction.com. Archived from the original on 2012-03-22. Retrieved 2012-03-12.
  13. ↑ "Ritchie Bros. Auctioneers - Unreserved Equipment Auctions". Rbauction.com. 2004-02-06. Archived from the original on 2009-07-21. Retrieved 2010-02-16.
  14. ↑ Auctioneers, Ritchie Bros. "News Release - November 19, 2009 - Ritchie Bros. Auctioneers". www.rbauction.com. Archived from the original on April 25, 2010. Retrieved March 12, 2012.
  15. ↑ "Archived copy" (PDF). Archived (PDF) from the original on 2018-11-09. Retrieved 2018-11-09.{{cite web}}: CS1 maint: archived copy as title (link)
  16. ↑ Topics, Transport (2016-08-03). "Ritchie Bros. Acquires Petrowsky Auctioneers". Transport Topics. Retrieved 2021-04-06.
  17. ↑ "Ritchie Bros. acquires North Battleford-based Kramer Auctions". thestarphoenix. Retrieved 2021-04-06.
  18. ↑ Weekly, Old Cars (16 January 2018). "Leake Auctions acquired by Ritchie Bros". Old Cars Weekly. Retrieved 2021-04-06.
  19. ↑ "Euro Auctions: Brothers delighted with £775m deal for Tyrone firm". BBC News. 10 August 2021. Retrieved 11 August 2021.
  20. ↑ C, Priyamvada (March 20, 2023). "Ritchie Bros completes $7 billion IAA acquisition". Reuters.
  21. ↑ Deka, Kannaki; Sen, Anirban (November 7, 2022). "Canada's Ritchie Bros to buy auto retailer IAA in $7.3 bln deal". Reuters.
  22. ↑ "Ritchie Bros. Auctioneers to Change Names to RB Global". MarketWatch. Retrieved 2023-05-17.
  23. 1 2 "News Releases - February 26, 2018 | Ritchie Bros. Auctioneers". Archived from the original on 2018-11-09. Retrieved 2018-11-09.
  24. ↑ "Ritchie Bros. Annual Report 2008. 18-08-2009" (PDF). Retrieved 2010-02-16.
  25. ↑ "Media Quick Facts. Ritchie Bros. Official Corporate web site. 18-08-2009". Rbauction.com. Archived from the original on 2010-02-01. Retrieved 2010-02-16.
  26. ↑ "Management | Ritchie Bros. Auctioneers". Archived from the original on 2018-11-09. Retrieved 2018-11-09.
  27. ↑ "Corporate Governance | Ritchie Bros. Auctioneers". Archived from the original on 2018-11-09. Retrieved 2018-11-09.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.