VANCOUVER, British Columbia -

Ritchie Bros. Auctioneers is launching a bundle of new value-added services for its customers in the U.S., Canada and throughout the world.

These new services — which include detailed equipment information, real-time auction results through its website, equipment financing, powertrain service warranties and property and cargo insurance — are geared to complement and further enhance the wide range of customer services already offered by the company, including comfortable first-class auction facilities, flexible bidding options, convenient on-site refurbishing services and a 21-language website.

Ritchie Bros. went into more detail about each enhanced service area.

Detailed Equipment Information

Beginning this past Friday, Ritchie Bros. said it will collect and provide more equipment information online for all of its industrial auctions around the world.

Available in 21 languages exclusively through the company’s website, officials highlighted that their detailed equipment information will include up to 50 high-resolution photographs of each item, allowing customers to clearly see key components of an item, along with a multi-point summary of those components and comments on basic functionality.

Richie Bros. believes this new service can enable customers to assess equipment online more efficiently and in greater detail, prior to inspecting it at the auction site in person.

For more information on detailed equipment information, visit www.rbauction.com/confidence.

Real-Time Auction Results

Also starting last Friday, Ritchie Bros. intends to provide real-time auction results for all customers viewing its auctions online through its website.

Executives pointed out that customers should be able to see instantly how much items have sold for and will be able to scroll back to see pricing for items they may have missed earlier in the day.

Equipment Financing

Ritchie Bros. Financial Services (RBFS) has partnered with leading equipment finance providers to bring fast, convenient, no-obligation financing options to auction company customers.

Financing options include equipment loans and lease-to-own programs.

Available now in the U.S. and Canada, RBFS plans on rolling out its services to customers in Europe and remaining global operations next year.

Powertrain Service Warranties

Ritchie Bros. customers are now able to purchase an optional powertrain service warranty for select equipment available at company auctions in the U.S. and Canada. However, the warranty excludes equipment sold at on-the-farm agricultural auctions.

Executives noted all warranties are underwritten by AmTrust Group, a subsidiary of AmTrust Financial Services, a multi-national insurance company.

Buyers can purchase a powertrain service warranty for select equipment purchased in Ritchie Bros. auctions held in Europe and the rest of the world beginning in 2012.

On-site Property & Cargo Insurance

Finally, Ritchie Bros. customers can secure optional on-site property and cargo insurance for equipment purchased or sold at company auctions in the U.S., Canada, Europe and Australia.

“On-site property insurance will protect a customer’s equipment while it is on a Ritchie Bros. auction site,” officials explained. “Cargo insurance will protect a customer’s equipment while it is in transit to or from a Ritchie Bros. auction site.”

They added both of these insurance products are brokered by Marsh, one of the world’s leading insurance brokers and risk advisors.

For more information on equipment financing, powertrain service warranties and/or on-site property and cargo insurance, visit www.rbauction.com/services.

Reasons for Enhancements

In highlighting all of these initiatives, chief executive officer Peter Blake, declared, “At Ritchie Bros., it’s all about our customers, and we’ve run our business with that in mind for more than 50 years.

“Our company’s mission is to provide compelling business solutions that enable the world’s builders to easily and confidently exchange equipment,” Blake continued. “We believe with the launch of these new services we have taken another large step in that direction.”