VANCOUVER – Ritchie Bros., the world's largest seller of used industrial equipment, has opened a new online equipment marketplace called Ritchie Bros. EquipmentOne.
Complementary to the company's flagship unreserved auction business, Ritchie Bros. EquipmentOne is a secure online marketplace for equipment and materials. Buyers and sellers can use EquipmentOne to negotiate, complete and settle their transactions in a safe and transparent environment. Core marketplace functionality has now been released and enhancements are being made on an ongoing basis; the next major release and full commercial launch is scheduled for the second quarter of 2013.
EquipmentOne was developed by building on the AssetNation platform, a leading online marketplace and solutions platform for surplus and salvage assets, which was acquired by Ritchie Bros. in May 2012. With this initial launch, AssetNation's large corporate customers are now selling their equipment and materials on EquipmentOne. With the subsequent launch in the second quarter, additional functionality will be released and a broader range of sellers will be welcomed onto the EquipmentOne marketplace.
Ritchie Bros. CEO Peter Blake estimates the used equipment market is worth more than $200 billion annually.
"Much of the equipment and materials sold on Ritchie Bros. EquipmentOne will be similar to the assets sold at Ritchie Bros. auctions," said Dave Dawson, CEO of EquipmentOne. "Ritchie Bros. auctions offer certainty of sale and global market value, whereas Ritchie Bros. EquipmentOne offers sellers control over price and process. The distinction isn't the type of asset; it's the needs of the customer."
Readers are urged to take a moment and visit EquipmentOne.com.