September 10, 2018 - 7:00 AM EDT
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U.S. Department of Defense extends its rolling-stock contract with GovPlanet

All U.S. DoD rolling stock assets will be sold through GovPlanet until at least September 2019

PLEASANTON, CA, Sept. 10, 2018 /PRNewswire/ - For the past four years, the GovPlanet marketplace has helped the U.S. Department of Defense sell thousands of its rolling stock surplus assets, including Humvees, utility trailers, cargo trucks and more. In 2018, the U.S. DoD also began selling its non-rolling stock assets through GovPlanet—this includes industrial machinery, electrical equipment, textiles, spare parts and other miscellaneous surplus assets. After seeing consistently strong returns, the U.S. DoD has decided to extend its rolling stock contract with GovPlanet, until at least September 2019.

"We now sell hundreds or thousands of items per week for the U.S. Department of Defense through our GovPlanet marketplace, with non-rolling stock auctions on Tuesdays and rolling stock auctions on Wednesdays," said Conner Humphrey, VP, Government Services, Ritchie Bros. "Over the past four years, we've sold more than 57,000+ items for the U.S. DoD, including 10,500+ Humvees, 13,750+ utility trailers, and 13,000+ cargo trucks."

The rolling stock contract has multi-year extension options, to be revisited annually.

For more information about GovPlanet and assets from the U.S. Department of Defense, visit GovPlanet.com.  

About GovPlanet:
GovPlanet, a Ritchie Bros. solution, was launched in 2014 to address the specialized equipment disposition needs of public entities, from federal, including military, to state, local and municipal. Each week, on average, GovPlanet draws close to 90,000 attendees to its online auctions. Items go into preview two weeks in advance and bidders can view photos, video and inspection reports. All items sold on GovPlanet have been inspected and come with IronPlanet's exclusive IronClad Assurance® equipment condition certifications, which give bidders the confidence to buy online from anywhere in the world.

About Ritchie Bros.:
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance® equipment condition certification; Marketplace-E, an online marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers, and Cat® auctions, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media

Cision View original content:http://www.prnewswire.com/news-releases/us-department-of-defense-extends-its-rolling-stock-contract-with-govplanet-300709433.html

SOURCE Ritchie Bros. Auctioneers


Source: PR Newswire (September 10, 2018 - 7:00 AM EDT)

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