Ritchie Bros. Sells US$258+ Million of Heavy Equipment Assets and Vehicles in its 2024 Premier Global Auction in Orlando, FL

Five-day public auction attracted 22,000+ bidders from 80+ countries competing for 16,500+ items

ORLANDO, Fla. and WESTCHESTER, Ill., Feb. 27, 2024 /PRNewswire/ - RB Global, Inc. (NYSE: RBA) (TSX: RBA), the trusted global marketplace for insights, services and transaction solutions for commercial assets and vehicles, today announced that Ritchie Bros. Auctioneers sold 16,500+ equipment items, trucks and vehicles at its Feb. 19-23 premier global auction event in Orlando, FL, generating US$258+ million in gross transaction value (GTV).

The premier global auction event attracted 22,000+ people from 80+ countries, with approximately 83% of the equipment selling to U.S. buyers, including 22% purchased by Floridians. The remaining 17% of the equipment was purchased by international buyers from as far away as Poland, India and Vietnam.

In addition to producing results for customers in Orlando last week, the Ritchie Bros. online auction platform featured the Australia National Online Auction, Feb. 21-22, and an IronPlanet weekly auction. In Australia, 2,400+ equipment items, generated US$27+ million in GTV, while the IronPlanet weekly auction saw 1,100+ heavy equipment items sell for US$13 million in GTV. Ritchie Bros. continues to prove that it is the leading destination for buying and selling heavy equipment and transportation assets globally, with over US$300 million in GTV sold last week alone.

"It was another successful year of onsite and online bidding and buying at our premier global auction in Florida, helping us drive strong results for the massive selection of equipment and vehicles available," said Jim Kessler, Chief Executive Officer for RB Global. "Our 200-acre yard was busy all week with customers viewing and inspecting equipment and it was great to be able to meet and connect with customers in person. At the same time, many more were participating online or through our mobile app from the convenience of their home or office.

"I'd like to offer a huge thank you to all our customers participating onsite and online last week. Our talented team, unique approach to yards, and innovative technology platform give buyers the confidence to purchase from around the world and give sellers the very best returns for their assets."

RB Global, Inc. (NYSE: RBA) (TSX: RBA) is a leading, omnichannel marketplace that provides value-added insights, services and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Through its auction sites in 14 countries and digital platform, RB Global serves customers in more than 170 countries across a variety of asset classes, including automotive, commercial transportation, construction, government surplus, lifting and material handling, energy, mining and agriculture. The company's marketplace brands include Ritchie Bros., the world's largest auctioneer of commercial assets and vehicles offering online bidding, and IAA, a leading global digital marketplace connecting vehicle buyers and sellers. RB Global's portfolio of brands also includes Rouse Services, which provides a complete end-to-end asset management, data-driven intelligence and performance benchmarking system; SmartEquip, an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both OEMs and dealers; Xcira, a leader in live simulcast auction technologies; and VeriTread, an online marketplace for heavy haul transport. 

Certain statements contained in this release contain include forward-looking information within the meaning of Canadian securities legislation and forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). Forward-looking statements may include statements relating to future events and anticipated results of operations, business strategies, the expected timing and associated benefits with respect to the February 2024 Orlando Auction Event and other subjects of this release on our business and plans regarding our growth strategies, and to our customers and company generally, and other aspects of RBA's or IAA's respective businesses, operations, financial condition or operating results and other statements that are not historical facts. 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SOURCE RB Global