Ritchie Bros. Orlando 2021 auction goes 100% online to provide certainty in uncertain times

Rhea-AI Summary

Ritchie Bros. reports a significant boost in online engagement, with website traffic rising by 35% and online bidder registrations up 71% in 2020. The company plans to host its first 100% online mega auction from February 15 to 20, 2021, amid growing demand due to COVID-19. Over 27 million visits were logged on the website, and active bidders made over 300,000 PriorityBids. The Orlando auction site will remain open for in-person inspections while introducing new features to enhance customer experience.

Positive

• Website traffic increased by 35% to over 27 million visits.
• Online bidder registrations rose by 71% to over 817,000.
• Strong buyer engagement with over 680,000 items watchlisted and 300,000+ PriorityBids.

Negative

• None.

Web traffic has increased 35% and online bidder registrations are up 71% in 2020

ORLANDO, Fla., Dec. 14, 2020 /PRNewswire/ - Onsite or online, you can count on Ritchie Bros. to deliver the equipment industry's premier global auction each and every February in Orlando, FL. For more than 60 years, the company has been an innovator, and in 2021 Ritchie Bros. will conduct its first ever 100% online Orlando mega auction, with brand new customer services. The auction will be held on February 15 – 20, 2021.  

"We are witnessing record online demand and strong pricing, with web traffic up 35 percent and online registrations up 71 percent," said Kari Taylor, President, North American Sales, Ritchie Bros. "COVID-19 cases are on the rise in much of the United States and over the last 10 months we have proven our ability to deliver the same great results with 100% online auctions. By going all online we have been able to leverage new digital marketing tools to provide sellers certainty in uncertain times."

In 2020 Ritchie Bros. has seen website traffic increase by 35% to 27+ million visits, while bidder registrations are up 71% to 817,000+ registrations. Once online, buyers are extremely active, watchlisting more than 680,000+ items and making 300,000+ PriorityBids. As of today, Ritchie Bros. has online buyers approved with more than $50 billion in purchasing power.

"Our Orlando auction site will still be open to facilitate in person inspections and onsite equipment needs," said Ms. Taylor. "Our Orlando mega auction will again feature a 'Virtual Selling Option', as well as new enhancements that will further benefit both buyers and sellers—including video inspections on several asset categories, PriorityBid will open significantly earlier for increased customer convenience, and enhanced dynamic bidding for all Timed Auction items. Onsite or online, you can count on Ritchie Bros. to deliver an auction like no other."

Ritchie Bros.' annual February Orlando auction features more than 200 acres for equipment display. The February 2020 event featured more than 13,000+ equipment items and attracted 18,000+ bidders from 85 countries.

Companies and individuals looking to sell equipment and trucks in the February 2021 Orlando auction should contact their local sales representative or contact the Orlando site directly at +1.855.894.9533. For more information, visit rbauction.com/orlando2021.

About Ritchie Bros.:

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing the exclusive IronClad Assurance® equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company's suite of multichannel sales solutions also includes Ritchie Bros. Asset Solutions, a complete end-to-end asset management and disposition system. Ritchie Bros. also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media. 

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SOURCE Ritchie Bros.

FAQ

What are the key metrics reported by Ritchie Bros for 2020?

Ritchie Bros reported a 35% increase in website traffic and a 71% increase in online bidder registrations, totaling over 27 million visits and 817,000 registrations respectively.

When is the Ritchie Bros 100% online auction scheduled?

The 100% online auction by Ritchie Bros is scheduled from February 15 to February 20, 2021.

How has COVID-19 affected Ritchie Bros operations?

COVID-19 has increased online demand for Ritchie Bros, leading to a successful transition to 100% online auctions.

What features will Ritchie Bros offer in the upcoming auction?

The upcoming auction will include a 'Virtual Selling Option', video inspections for several asset categories, and enhanced dynamic bidding.

What was the participation of bidders from other countries in the previous Orlando auction?

The previous Orlando auction attracted over 18,000 bidders from 85 countries.