Ritchie Bros. Auctioneers, the world's largest on-site and online auctioneer of heavy equipment and trucks, reached and exceeded $1 billion in online equipment sales for 2011 alone. Ritchie Bros. (www.rbauction.com) introduced its real-time online bidding service in 2002 and now sells more construction, transportation and other equipment over the internet than any other auctioneer—more than $5 billion worth since 2002. Today, one in two people bidding at Ritchie Bros. auctions participate online in real time; the others bid in person at the auction site. Online bidding has made it easier for Ritchie Bros. customers to buy equipment on a global scale; so far in 2011, Ritchie Bros. has attracted more than 190,000 online bidder registrations from people in 118 countries.

"Selling $1 billion of equipment over the internet in one year puts Ritchie Bros. in the realm of household names like Toys 'R' Us and Zappos," said Peter Blake, Chief Executive Officer, Ritchie Bros. Auctioneers. "This milestone reminds us that our customers—the world's builders—embrace the use of technology, much like the rest of the world, to do what they do every day. We're proud to offer a world-class service that makes it easy for our customers to buy the equipment they need, when they need it, from anywhere in the world."

Usage of the service has grown steadily since it was launched in 2002, when online bidders at Ritchie Bros. auctions purchased about $82 million of equipment. Recent enhancements have added to its global appeal. In April 2010, Ritchie Bros. introduced online bidding in an additional six languages. In July 2011, Ritchie Bros. introduced detailed equipment information in 21 languages on rbauction.com, giving customers the ability to do a virtual equipment inspection before bidding online or on-site. Ritchie Bros. has sold 312,600 items to online bidders since 2002, including a $1.6 million crane in Boston, MA on June 6, 2009.