Behind The Rise of Ritchie Bros. Auctions Brand?

[Helen Armstrong]

hi everyone,
What do you guys think sparked the huge rise of Ritchie Bros. Auctions? Is it smart marketing, solid reputation, or just being in the right place at the right time?

 

[George]

They have already built an empire and have a very solid reputation. What I like most about them is their customer support, and they have a territory manager. The only thing that I haven't known yet is the Financial Services, RBFS.

 

[Rainiel Ollis]

i think it’s a mix of timing and reputation... they earned people’s trust early, then scaled fast with marketing and global reach.

 

[Bigbonnet]

I think it's a combo of trust, consistent inspections, and making auctions easy to access online-once people had good experiences, word spread fast.

 

[James R.]

RB's reputation and the customer care.

 

[IamBruce_Driver]

RB's reputation and the customer care.

You are right, it is the reputation they built over time.

 

[SolidRockbreaker]

Yeah it really feels like trust played a big role.

Once buyers had a few good experiences, it probably just snowballed from there.

 

[winston_wisdom]

They've made some good acquisitions as well. Now it seems they've got a bit of a flywheel spinning. Their auctions get a lot of buyer eyeballs, which means units consistently sell at or above the predicted amount, which means sellers keep brining equipment to RB, which means they'll keep getting buyer eyeballs.