Ritchie Bros. Auctioneers announced it sold approximately $4.2 billion of equipment through 349 unreserved auctions and its online equipment marketplace during 2014. The company said this is a new annual record and represents a 10.5% increase in gross auction proceeds compared to 2013.

The company said Ritchie Bros. Financial Services (RBFS) provided over $175 million of financing to equipment buyers so far this year, a new record for this growing business and a 75% increase in financing activity compared to 2013. RBFS works with select lending partners to find financing solutions for customers purchasing equipment, including loans and lease-to-own programs. RBFS does not utilize company capital in its financing activities.

During the fourth quarter of 2014, the company said it achieved gross auction proceeds of $1.2 billion, a record for the fourth quarter and an increase of 11.7% compared to the previous fourth quarter record achieved last year.

Ritchie noted that it attracted record online bidder registrations and sold approximately $1.8 billion of equipment, trucks and other assets to online auction bidders and EquipmentOne customers in 2014, a 17.5% increase over 2013 and the highest amount ever sold online by the company in one year. EquipmentOne, the company’s online equipment marketplace, has generated approximately $100 million in gross transaction value so far this year. EquipmentOne celebrated its first anniversary in 2014 and is viewed as a future growth engine for Ritchie Bros.

To view the full Ritchie Bros. news release, click here.