Ritchie Bros. launches new services

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Ritchie Bros. Auctioneers Inc. announced the launch of a bundle of new value-added services for its customers in the United States, Canada and around the world. The company says these new services – which include detailed equipment information, real-time auction results, equipment financing, powertrain service warranties and property and cargo insurance – will complement and further enhance the wide range of customer services already offered.

“Our company’s mission is to provide compelling business solutions that enable the world’s builders to easily and confidently exchange equipment,” says Peter Blake, chief executive officer. “We believe with the launch of these new services, we have taken another large step in that direction.”

Ritchie Bros. now collects and provides more equipment information online for all of its industrial auctions around the world. Available in 21 languages through Ritchie Bros.’ Website at www.rbauction.com, detailed equipment information will include up to 50 high-resolution photographs of each item, allowing customers to see key components of an item, along with a multipoint summary of those components and comments on basic functionality.

Also, Ritchie Bros. now provides real-time auction results for all customers viewing its auctions online through www.rbauction.com. Customers will instantly be able to see how much items have sold for and be able to scroll back to see pricing for items they may have missed earlier in the day.

Ritchie Bros. Financial Services (RBFS) has partnered with equipment finance providers to bring no-obligation financing options to customers. Financing options include equipment loans and lease-to-own programs. Available now in the United States and Canada, RBFS plans on rolling out its services to Ritchie Bros. customers in Europe and remaining global operations in 2012.

Ritchie Bros. customers now are able to purchase an optional powertrain service warranty for select equipment available at Ritchie Bros. auctions in the United States and Canada (excluding equipment sold at on-the-farm agricultural auctions). All warranties are underwritten by AmTrust Group, a subsidiary of AmTrust Financial Services Inc., a multinational insurance company. Buyers will be able to purchase a powertrain service warranty for select equipment purchased in Ritchie Bros. auctions held in Europe and the rest of the world in 2012.

In addition, customers now are able to purchase optional onsite property and cargo insurance for equipment purchased or sold at Ritchie Bros. auctions in the United States Canada, Europe and Australia. Onsite property insurance will protect a customer’s equipment while it is on a Ritchie Bros. auction site; cargo insurance will protect a customer’s equipment while it is in transit to or from a Ritchie Bros. auction site. Both of these insurance products are brokered by Marsh.