Ritchie Bros

In 1958, three entrepreneurial brothers, Ken, John, and Dave Ritchie, embarked on a journey that would transform the auction industry. Starting in Kelowna, British Columbia, Canada, they conducted their first unreserved auction, a novel concept at the time, selling surplus inventory from their family’s furniture store. This marked the inception of Ritchie Bros. Auctioneers.

Over the years, the Ritchie brothers honed their auctioneering skills, expanding their operations beyond local borders. Their commitment to transparency and integrity in auctions set them apart, attracting a growing clientele. By the 1970s, Ritchie Bros. had established a strong foothold in North America, conducting auctions across the continent.

The pivotal moment in their journey came in 1998 when Ritchie Bros. went public, listing on the New York Stock Exchange. This move not only provided the capital needed for further expansion but also solidified their reputation as a leader in the auctioneering industry. The IPO was a testament to their growth and the trust they had built with customers worldwide.

Today, Ritchie Bros. stands as a global leader in asset management and disposition, with operations in over 20 countries. Their innovative approach, including the adoption of online auctions, has kept them at the forefront of the industry. The legacy of the Ritchie brothers lives on, as the company continues to connect buyers and sellers of heavy equipment, trucks, and other assets around the world.