Ritchie Bros. Pivots to Hybrid Marketplace to Ease Equipment Liquidity
AI-generated image · Bay Street Wire
The company is introducing 'Buy Now' and 'Make Offer' options to move inventory faster than traditional auction cycles.
Ritchie Bros., an RB Global, Inc. company, is expanding its rbauction.com platform to include fixed-price and negotiation-based purchasing, according to a report from Financial Post. The company has launched "Buy Now" and "Make Offer" options across North America, adding over 10,000 listings to the site.
While the platform continues to support unreserved auctions, these new tools allow buyers to secure equipment immediately or name their own price. For sellers, the shift provides a way to move inventory without waiting for a scheduled auction date, while maintaining 24/7 exposure to registered users.
Shiv Dutt, Chief Digital and Strategy Officer at RB Global, stated that the updates address specific customer pain points, noting that buyers requested more options that didn't require waiting for auction day, while sellers sought more ways to put inventory in front of a wider audience.
To support the hybrid model, RB Global is utilizing a single account login for all transaction formats. Additionally, a dedicated marketplace sales team is available to assist buyers with shipping and optional warranty coverage via third-party providers.