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The brothers began conducting auctions more regularly and in 1958 incorporated Ritchie Bros. Auction Galleries Ltd. to formalize their new business. [4]: 17 Ritchie Bros. began selling used equipment in the 1960s. In 1963 Dave Ritchie moved to Vancouver, B.C. and rented an auction site on S.E. Marine Drive. He set up the company's first ...
Thomas P. Scanlan (1896–1986), was the founder and publisher of the Chicago-based Surplus Record. Mr. Scanlan was a University of Notre Dame graduate. After World War I, he began Surplus Record, which grew into a national trade publication for the used-machinery business which listed used machine tools and capital equipment.
2011 - Started e-auction of iron ore in Karnataka, and human hair. [5] 2012 - Started e-auction of chrome ore, baryte, raw pet coke. 2013 - Started e-auction of forest produces. 2014 - Started e-auction of iron ore in Goa and red sanders wood in Andhra Pradesh. [6] 2015 - E-auction of coal mine blocks [7] and regassified LNG. [8]
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In its early phases, the business offered a variety of iron-based machinery products. It traded under the names of its founders, as Merrill and Houston Iron Works. It was bought by four of its employees in 1885 and become Beloit Iron Works. [1] In 1897 and 1900 the company exported its first paper machines to Japan and China respectively. [2]