BCBusiness
Last year BCBusiness recognized a local online retailer for creating a global market for used books, and AbeBooks is indeed a remarkable story, linking millions of bibliophiles around the globe. But Ritchie Bros. Auctioneers takes online selling to another level: when the products are not books but Caterpillar tractors and backhoes, online selling becomes a whole lot more complicated.
Ritchie Bros. is the world’s largest industrial auctioneer, selling US$3.57 billion of used and unused equipment at 340 unreserved auctions in 2008. The company’s secret is a sophisticated online system that allows bidders from around the world to easily participate in auctions.
In the words of one panellist: “Ritchie Brothers has turned local markets for used industrial equipment into a worldwide market by continuously expanding its services to buyers and sellers.”
BCBusiness celebrates the bold ideas, fearless founders, innovative leaders and game-changing companies driving British Columbia’s economy forward. We deliver insightful and impactful storytelling about the power players in B.C.’s business community to a connected audience, all with a deep love of the place we call home.
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