Long-time Ritchie Bros. customer now selling via online equipment marketplace as well as auctions
HOUSTON, May 18, 2015 /PRNewswire/ - In early May 2015, Phoenix-based Swift Transportation sold 25 2013 Volvo VNL 670 sleeper truck tractors on EquipmentOne, Ritchie Bros.' new secure online marketplace. The professionally-maintained, low mileage, late model trucks were listed for 10 days; all 25 trucks achieved competitive market prices and satisfied seller expectations. Four people, including three first-time EquipmentOne buyers, purchased all 25 trucks listed for sale. Swift is North America's largest full truckload carrier and a long-time Ritchie Bros. customer. This was Swift's first time selling on the EquipmentOne platform.
"We had an excellent first experience with EquipmentOne, and are already planning our next sale," said Erek Starnes, Vice President of Equipment Leasing and Sales, Swift Transportation. "We achieved great results, and particularly appreciated the speed of the sale. With EquipmentOne we can sell from our lot and base the timing on our schedule, which minimizes downtime. We felt the price would take care of itself—Ritchie Bros. has a national footprint and a remarkable advertising and marketing strategy; they are able to reach out and attract the buyers who want a particular spec truck. There's no sitting waiting for the phone to ring."
Founded in 1966, Swift Transportation operates the largest fleet of Class 8 trucks in North America. Swift maintains its fleet to the highest standards in the industry with a strict preventative maintenance program.
"We are excited to offer a company of Swift's caliber the solutions they need to manage their fleet," said Chris Holmberg, Ritchie Bros. Regional Sales Manager. "Swift has long relied on Ritchie Bros.' unreserved public auctions to turn surplus trucks and trailers into cash. For situations where they want more control over timing or price, they can now list items for sale on EquipmentOne. Whether you need certainty or control, Ritchie Bros. has a solution, including the ability to attract qualified buyers with first-class marketing plus warranty programs and in-house financing."
Ritchie Bros. offers up to 100% truck and equipment financing through Ritchie Bros. Financial Services, and was able to offer financing rates as low as 3.95% on the Swift trucks. The Swift trucks also came with factory warranties and available NTP warranties.
"We will definitely use both EquipmentOne and Ritchie Bros. auctions to sell our trucks and trailers, and would recommend them to others," said Mr. Starnes. "I have a great relationship with Chris and Don, my two Ritchie Bros. representatives. They answer every question, do all the work, and make the sale very easy. They make you feel like family—that means a lot."
Jim Barr, Ritchie Bros. Group President, Emerging Business, Brand Innovation & Information Technology, added: "Companies like Swift have varied and complex asset disposition needs, and our new multichannel approach enables us to meet those needs better than ever before. Ritchie Bros.' unmatched brand, buyer base, world-class sales and customer service, and range of solutions provide one-stop-shop convenience for equipment buyers and sellers, whether they own just a few items or a huge fleet like Swift."
Ritchie Bros. sold more than 11,000 truck tractors and 16,000 trailers in 2014, and now offers two ways to buy and sell trucks and trailers in the USA: regular unreserved public auctions at 22 permanent auction sites (visit rbauction.com for details) and an online marketplace at EquipmentOne.com.
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. TM solutions make it easy for the world's builders to buy and sell equipment with confidence, including live unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOneTM secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauction.com/financing). Ritchie Bros. has operations in 19 countries, including 44 auction sites worldwide. Learn more at RitchieBros.com.
Photos for media are available at rbauction.com/media.
SOURCE Ritchie Bros. Auctioneers