Richie Bros. Wins U.S. Surplus Bid
Tell us about your company.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets.
Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining and forestry, the company’s selling channels include: Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, offering live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions, providing its exclusive IronClad Assurance® equipment condition certification; Marketplace, an online marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales.
The company also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers and Cat® auctions, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.
Recently, Richie Bros. Auctioneers was awarded the contract to purchase and sell all “non-rolling stock” from the U.S. Department of Defense. What types of products are covered under this contract?
Under the GovPlanet brand (www.GovPlanet.com), Ritchie Bros. now has contracts for both the rolling stock and non-rolling stock assets of the U.S. Department of Defense. Non-rolling stock assets include non-wheeled items, such as industrial machinery, electrical equipment, textiles, spare parts and other miscellaneous surplus assets.
GovPlanet was launched in 2014 to address the specialized equipment disposition needs of public entities, from federal, including military, to state, local and municipal. Each week, on average, GovPlanet draws close to 90,000 attendees to its online auctions. Items go into preview two weeks in advance and bidders can view photos, videos and inspection reports. All items sold on GovPlanet have been inspected and come with IronPlanet’s exclusive IronClad Assurance equipment condition certifications, which give bidders the confidence to buy online from anywhere in the world.
Surplus Today readers have been bidding on U.S. Military Surplus from your predecessor for many years. How will this process change for them now?
The process shouldn’t change much at all for buyers. They will just have to go to a new place to purchase the assets. All rolling stock and non-rolling stock assets will now be acquired through our GovPlanet marketplace at GovPlanet.com. We expect to start receiving non-rolling assets in March (rolling stock assets are already offered weekly) and be fully operational on GovPlanet’s weekly auctions with assets to purchase in Q2 (April – June) of this year.
Where should dealers go and/or whom should they contact with questions about bidding on Military Surplus? Where can they go to find a list of inventory?
Go to GovPlanet.com. All non-rolling stock DoD assets will be available for purchase at GovPlanet.com as of Q2 this year. If you have any questions, please direct them to our customer service group at 888.433.5426.