Ritchie Bros. hosts its first non-rolling stock auction for the U.S. Department of Defense on GovPlanet.com

Online auctions have been scheduled for every Tuesday, selling warehouse & consumer goods, office furniture, and more from the U.S. DoD

FORT WORTH, TX, July 17, 2018 /PRNewswire/ - Today Ritchie Bros. will begin selling hundreds of non-rolling stock items for the U.S. Department of Defense each week through its online marketplace GovPlanet.com. For the past three and a half years the U.S. DoD has been selling its surplus rolling stock assets—Humvees, utility trailers, cargo trucks, etc.—through the GovPlanet marketplace. Late last year, Ritchie Bros. signed an additional contract to now sell all U.S. DoD non-rolling stock assets through GovPlanet as well. The first non-rolling stock auction is being held today, July 17, 2018.

Ritchie Bros. has scheduled U.S. DoD auctions through GovPlanet each week, with non-rolling stock assets being sold on Tuesdays and rolling stock assets sold on Wednesdays.

"We are now the one-stop-shop for all surplus assets from the U.S. Department of Defense," said Conner Humphrey, Vice President, GovPlanet. "The non-rolling stock assets include everything from shop tools, warehouse and consumer goods, office furniture and so much more. All of it will be sold exclusively through our GovPlanet marketplace—it's free to register and very easy to use. I encourage interested bidders to go online and check out the inventory today—you never know what you might find."

Asset highlights in the July 17 non-rolling stock auction include storage containers, equipment parts, ammo cans, filing cabinets, tools, consumer electronics and more. For a complete list of items, visit GovPlanet.com.

For more information on how to buy and sell through GovPlanet, visit GovPlanet.com.   

About GovPlanet:

GovPlanet, a Ritchie Bros. solution, 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, video 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.

About Ritchie Bros.:

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 offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance® equipment condition certification; Marketplace-E, 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.

Forward-looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable U.S. and Canadian securities legislation (collectively, "forward-looking statements"), including, in particular, statements regarding future auctions and the timing thereof. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or statements that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond the Company's control, including the ability to conduct weekly U.S. DoD auctions, and the risks and uncertainties set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 and which is available on the SEC, SEDAR, and Company websites. The foregoing list is not exhaustive of the factors that may affect the Company's forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, and actual results may differ materially from those expressed in, or implied by, these forward-looking statements. Forward looking statements are made as of the date of this news release and the Company does not undertake any obligation to update the information contained herein unless required by applicable securities legislation. For the reasons set forth above, you should not place undue reliance on forward looking statements.

Photos and video for embedding in media stories are available at rbauction.com/media. 

SOURCE Ritchie Bros. Auctioneers

Related Links

www.rbauction.com