New feature consolidates services of IronPlanet and Asset Appraisal Services to provide comprehensive inspections for the world’s largest fleets
Global machinery auctioneer Ritchie Bros. (RB) has consolidated the machinery inspection offerings of its constituent brands to offer Ritchie Bros. Inspection Services, a new, comprehensive facility available to customers as part of its Ritchie Bros. Asset Solutions.
According to RB, IronPlanet and Asset Appraisal Services – two brands it acquired in 2017 – have for years been leaders in the equipment inspection business. IronPlanet has offered inspection content and technology for customers of its online marketplaces, including its IronClad Assurance(R) equipment condition certification, which ensures buyers receive the equipment they expect. Asset Appraisal Services is a leader in the commercial truck inspection market.
Since both were acquired by RB, the company has continued to enhance the inspection capabilities and the number of inspections has increased significantly. Now RB is consolidating these two inspection service organisations to formally launch Ritchie Bros. Inspection Services as part of its Ritchie Bros. Asset Solutions.
Karl Werner, Interim Co-CEO and president, International, at RB, said: “We inspect hundreds of thousands of items every year. We believe we have the best inspection team and technology in the industry and are uniquely positioned to innovate and develop targeted solutions for our increasingly-sophisticated customer base.”
In 2016, prior to the acquisition, IronPlanet and Asset Appraisal Services inspected more than 100,000 items. For 2019, post-acquisition, the team is expected to surpass 215,000 items, taking 7.5 million photos and analysing approximately 30,000 oil samples, with more than 300 full-time and contract inspectors.
“We continue to enhance the capabilities of RB Asset Solutions and Ritchie Bros. Inspection Services is a key extension to these solutions,” said Randy Berry, who serves as senior VP of Digital Operations and oversees the inspection team for Ritchie Bros.
“We are privileged to already serve the inspection needs of many of the world’s largest fleets and we are now positioned to better scale our inspection services offerings and help even more customers with inspections in support of lease returns, financing, trade-ins, repossessions, private sale, asset verification, and more.”
According to the company, Ritchie Bros. Asset Solutions is a complete end-to-end asset management and disposition solution. Its suite of tools includes an inventory management system, personalised web stores, data analytics, valuation tools, and now Ritchie Bros. Inspection Services, giving customers the capabilities and insights to make better disposition decisions.