In 2021, Ritchie Bros. took definitive steps towards helping customers through all stages of the used equipment lifecycle, as well as providing even more selling options. Ritchie Bros. acquired SmartEquip, a leader parts procurement service, and Rouse Services, which provides the gold standard of accurate and reliable market data and appraisal services. Ritchie Bros. also launched Ritchie List, a listing service where buyers and sellers can transact in the private marketplace in a safe and convenient way.
Early in 2020 Ritchie Bros. launches two new service brands for its customers: Ritchie Bros. Inspection Services and Ritchie bros. Appraisal Services. In mid-March, due to COVID-19, the company moves its auctions 100% online and experiences record demand. In the fall acquired Rouse Services, a leading provider of data intelligence and performance benchmarking solutions, and launched Ritchie Bros. Asset Valuator, a quick and easy pricing research tool for customers.
In February 2019, Ritchie Bros. held the largest equipment auction ever in Orlando, FL, selling US$297+ million of equipment and trucks in six days. Later in the fall the company introduced PriorityBid functionality for its live auctions, allowing interested bidders to place bids online ahead of the auction. Also, the Marketplace-E solution surpassed US$500 million in sales in 2019.
Ritchie Bros. introduces two new solutions to the market: Ritchie Bros. Asset Solutions and Marketplace-E. RB Asset Solutions is an end-to-end asset management system designed to help customers better manage, analyze, and sell assets. Marketplace-E is an additional sales solution offering consignors increased control over the selling price and process through ‘Make Offer' and ‘Buy Now' selling options.
After receiving unconditional clearance from the U.S. Department of Justice, Ritchie Bros. completed its acquisition of IronPlanet on May 31. It was the largest acquisition in company history and began a new era of delivering unprecedented choice to our customers. On June 20, the executive leadership group rang the ceremonial bell at the New York Stock Exchange to celebrate the historic acquisition.
Ritchie Bros. made some significant corporate developments in 2016, including the announcement of its impending acquisition IronPlanet, a leading online marketplace for used heavy equipment. The company also acquired Mascus, one of the world's leading online equipment listing services, as well as the remaining minority interest of Ritchie Bros. Financial Services, providing the company 100% ownership. Ritchie Bros. also acquired Petrowsky Auctioneers and Kramer Auctions to help bolster its auction presence in the New England region of the United States and the Canadian agricultural market.
Ritchie Bros. held 345 auctions in 2015, including its largest-ever, single-consignor auction in Casper, WY on March 25, selling US$54 million of cranes, trucks and trailers in one day