Page 37 - Port of Baltimore Magazine May/June 2013

To subscribe or renew, visit www.marylandports.com May/June 2013 ■ The Port of Baltimore [35]
— one of 44 Ritchie Bros. sites around the
world.
The 55-year-old auction company also
sells other equipment-related items, such
as air compressors, light towers, genera-
tors, equipment attachments and more.
In 2012, Ritchie Bros.’ North East
auctions attracted close to 11,500 bidders
from across the United States and Canada,
as well as more than 60 other countries,
including Australia, Bolivia, Egypt, Malaysia,
Paraguay and Singapore.
“More than 85 percent of the equip-
ment we sold last year went to buyers from
outside the state of Maryland, from as far
away as Thailand, Peru and the United
Kingdom,” said Iacoboni. “The majority
of the equipment purchased by overseas
buyers goes through the Port of Baltimore.
Our proximity to the Port plays a huge
factor in our auctions; it’s a big reason
why we see a large amount of international
participation.”
Steve Jarczynski, Trade Development
Ritchie Bros.
Auctioneers
AT-A-GLANCE:
t Headquartered in Vancouver,
British Columbia.
t 44 auction sites worldwide,
including one in North East, Md.
t More than 1,400 full-time
employees.
t Holds public unreserved
auctions for construction,
transportation, mining and
agricultural equipment.
t The highest bid ever placed:
$46 million for the 220-foot
megayacht Apoise, at an
auction in Grand Cayman,
Cayman Islands.
t Highest bid placed on a piece
of equipment: $3.7 million for a
Liebherr LR 1800 800-ton
crawler crane sold in California.
t Company started in 1958 by
brothers Ken, Dave and John
Ritchie. At their first auction,
they sold $2,000 in surplus
assets from their furniture
store to pay off a bank debt.
They conducted their first
equipment auction in 1963.
*All amounts are in U.S. dollars
www.rbauction.com