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Ritchie Bros. Sells Record $4.2B of Equipment in 2014

December 30, 2014, 07:13 AM
Filed Under: Industry News

Ritchie Bros. Auctioneers sold approximately $4.2 billion of equipment through 349 unreserved auctions and its online equipment marketplace during 2014. This is a new annual record for the company, and represents a 10.5% increase in gross auction proceeds (GAP) compared to 2013. During the fourth quarter of 2014, the company achieved gross auction proceeds of $1.2 billion, a record for the fourth quarter and an increase of 11.7% compared to the previous fourth quarter record achieved last year.

"We're pleased to have achieved a new annual record of $4.2 billion in Gross Auction Proceeds in 2014, as well as a new annual record of $1.8 billion of online sales," said Ravi Saligram, Chief Executive Officer. "We're focusing on how to cater to the unique needs and preferences of specific sectors, and exploring ways to broaden our relationships with our customers. I look forward to sharing more details and the results of our targeted market strategy over the next several quarters. These activities will further solidify our leading market position and expand our global full service offering."

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