Ritchie Bros. Auctioneers
RB Global has evolved into a leading global marketplace that connects buyers and sellers of commercial assets and vehicles. It is the result of the 2023 combination of Ritchie Bros. and IAA. Ritchie Bros.' roots were as an auctioneer facilitating transactions of commercial, construction, and transportation equipment (excavators, bulldozers, forklifts, and commercial trucks and trailers). However, it has evolved into an omnichannel marketplace. IAA has similar roots, though primarily focused on the salvage auction segment for consumer automobiles. The group provides ancillary services including title processing, transportation/towing, financing, data and appraisal, and so on. Its activities are international, though skewing approximately two-thirds to North America.www.rbauction.com
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Search complete. 13 mentions across 10 episodes found for "Ritchie Bros. Auctioneers".
Oct 30, 2026
Brianne GardnerGUEST
So I think, again, this is why we remain one of our preferred Canadian equity holdings in the portfolio.
Lindsay BiscayHOST
Okay, next up is RB Global.
Lindsay BiscayHOST
So when you recommended this, it was at $139.16. Now it's at $124.51.
Lindsay BiscayHOST
I see, like I'm looking at the chart, it looks like midsummer this year is when it really started to drop and fall off.
Lindsay BiscayHOST
Did you take some profits here? Are you still holding RB Global? What do you think?
Brianne GardnerGUEST
Yeah, we are still holding this name.
Brianne GardnerGUEST
Again, Richie Brose was their former name.
Jimmy ClarkHOST
Traveling north of the border on October 26th in Rock Glen, Canada.
Jimmy ClarkHOST
A sale by Ritchie Brothers.
Jimmy ClarkHOST
Machinery Pete highlights a few big ticket items.
Jimmy ClarkHOST
A 2022 Vanderstat.
Chip FloryHOST
Let's go north of the border up to Saskatchewan.
Greg PetersonGUEST
Yeah, Saskatchewan, our good friends at Ritchie Brothers had a very nice farm auction Thursday.
Greg PetersonGUEST
Rock Glen, Saskatchewan.
Greg PetersonGUEST
I confess I do not know off the top of my head where Rock Glen is in Saskatchewan.
Kristjan HebertHOST
Yeah, 600 and some rotor hours on it.
Kristjan HebertHOST
Yeah, and I won't share exact numbers, but you can say that I traded it in for well north of $800, and we did an internal little project on it that I think the crew thought was pretty fun, that we pulled all the data we could pull from Ritchie Brothers and Steph's.
Kristjan HebertHOST
And I think the reason I decided to pull the pin early, and we discussed this as a group, was that I truly felt that harvest in general on the East side of the province was going to get long.
Kristjan HebertHOST
And I've been saying for a long time, there was a used combine problem on the lots, but I felt that if I waited another 10 days, um, that problem might go away.
32 MINS LATER
Evan ShoutHOST
My Yukon just came out of the shop, and it took a week and a half to get the control arms for the tire that I was waiting on because it was stuck in the U.S., and obviously a nice little tear for what we've got.
Evan ShoutHOST
I'm not saying that was the entire reason, but any thoughts around that on parts on the farm?
Kristjan HebertHOST
Well, I think that's our big reason for having those seed cans stocked for seeding and harvest, right? We can have a semi go down for a week while we wait for parts, but we can't have one of the big machines, right? And at the same time, though, I think it's also why – If you would have bought all of your farm from Ritchie Brothers and you have something go down, your local dealership is not going to help you out.
Kristjan HebertHOST
We have two or three examples this year where we had some header issues where the parts, a gearbox that they don't have in stock and it's going to be three days that we were able to go get a header from them, a replacement header for two and a half days.
Kristjan HebertHOST
Yeah, 600 and some rotor hours on it.
Kristjan HebertHOST
Um, yeah, and I won't, you know, I won't share exact numbers, but we-- You can say that, you know, I traded it in for nor- well north of 800, and we did an internal little project on it that I think the crew thought was pretty fun, that we pulled all the data we could pull from Ritchie Brothers and Steffes.
Evan ShoutHOST
Yep.
Kristjan HebertHOST
And, uh, and I think the reason I decided to pull the pin early, and, and we discussed this as a group, was that I truly felt that harvest in general on the east side of the province was gonna get long.
32 MINS LATER
Kristjan HebertHOST
Yep.
Evan ShoutHOST
I'm not saying that was the entire reason, but any thoughts around that on parts on the farm?
Kristjan HebertHOST
Well, I think that's our big reason for having those seek ends stocked for seeding and harvest, right? We can have a semi go down for a week while we wait for parts, but we can't have one of the big machines, right? And at the same time, though, I think it's also why, you know, if you would've bought all of your farm from Ritchie Brothers and you have something go down, your local dealership is not gonna help you out.
Evan ShoutHOST
No.
Mark Le DainGUEST
And there have been lots of kind of providers and marketplaces that have existed there for decades.
Mark Le DainGUEST
If you think about a Ritchie Brothers, for example, a lot of that is existed and there isn't much friction.
Mark Le DainGUEST
But outside that, once you get into complex energy equipment, complex power equipment, manufacturing equipment, the given buyer for that specific model and type of equipment, especially if it's purpose-built, we even see this a lot in clean tech, some of the smaller clean tech companies, you may only have two or three buyers globally that are looking for that given piece of equipment at that point in time.
Mark Le DainGUEST
And if you aren't aware of them, which you likely aren't, you're focused on growing your own business as any SMB operator is, uh, you're not going to get full value for that equipment if you want to sell it as surplus, uh, or if you want to look for a partner on it, uh, or even if you say, okay, I want to like replace this with a used unit that has slightly different applications.
TrevorHOST
And I think you're right in that They might carry it at one price on their book, but in reality, the current market value is probably multiples higher than what it's being carried at.
TrevorHOST
And I think it really sets them apart from their major competitor, IAA, which is owned by Ritchie Brothers because IAA doesn't own much of their land and they lease it.
TrevorHOST
And those leases are going to go up with inflation, right? And so you're going to have ever increasing expenses linked to inflation, where if you own the land like Copart does, you have that inflation protection.
RyneHOST
It's an interesting dichotomy where real assets are generally inflation
Mike MurphyGUEST
There's no more pen and paper as well as a passport mode, I call it.
Mike MurphyGUEST
So when you trade or sell your machines or assets back to the dealer or a private buyer or Ritchie Brothers, whoever, um, the potential new buyer or someone at the dealership can also walk up to that same QR code, and it opens a web browser for them, and they can see the history of services and inspections, um, of that machine or unit to kinda help with those negotiations, transparency, you know, the health, the overall health of that machine or asset.
Mike MurphyGUEST
So, um, you know, inspection services now is, is less than 10 seconds.
Mike MurphyGUEST
It's, it's awesome.
Brian SullivanHOST
They may be stocks that RBC still likes, but just aren't liked enough to be in this really select group.
Brian SullivanHOST
The deletions are Airbnb, Air Products, Diageo, Merck, Moody's, RB Global, Schneider Electric, and Ventas.
Brian SullivanHOST
So you don't care about that.
Brian SullivanHOST
You care about this, the stocks that RBC is adding, the ones they really, really love.
Greg PetersonGUEST
And it was already cascading that direction for a number of reasons.
Greg PetersonGUEST
Um, I know I was up in Canada two weeks ago hanging out with the Ritchie Brothers at their, uh, exhibit at the Canadian Outdoor Farm Show in Water.
Greg PetersonGUEST
Uh, what was that? Uh, it was on Ontario, central Ontario.
Greg PetersonGUEST
But-