Ritchie Bros. Record $4.2+ Billion in Sales for 2014
Ritchie Bros. Auctioneers Incorporated 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.
That's a 10.5% increase in gross auction proceeds 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.
Ritchie Bros. conducted its final unreserved auction of 2014 on Friday, December 19 in Newark, New Jersey. The company plans to release its full audited financial results for 2014 after market close on February 26, 2015.
“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.
Worth noting, the company attracted record online bidder registrations and sold approximately $1.8 billion of equipment and other assets to online auction bidders and EquipmentOne customers in 2014, a 17.5% increase over 2013 and the highest amount ever sold online by the Company in one year.
EquipmentOne, the company's online equipment marketplace, has generated approximately $100 million in Gross Transaction Value (GTV) as of Dec. 22, 2014. EquipmentOne celebrated its first anniversary in 2014 and is viewed as a future growth engine for Ritchie Bros., the company stated.
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