General Information	12 Months Ended
Dec. 31, 2021
General Information
General Information	1. General information Ritchie Bros. Auctioneers Incorporated and its subsidiaries (collectively referred to as the “Company”) provide a marketplace for insights, services and transaction solutions for commercial assets. The Company offers its customers end-to-end transaction solutions for used commercial and other durable assets through its omnichannel platform, which includes auctions, online marketplaces, listing services, and private brokerage services. The Company also offers a wide array of value-added services connected to commercial assets as well as asset management software and data as a service solutions to help customers make more accurate and reliable business decisions. Ritchie Bros. Auctioneers Incorporated is a company incorporated in Canada under the Canada Business Corporations Act, whose shares are publicly traded on the Toronto Stock Exchange (“TSX”) and the New York Stock Exchange (“NYSE”). On November 2, 2021, the Company acquired all the issued and outstanding common shares of SmartEquip Inc. (“SmartEquip”), which has been consolidated from the date of acquisition. SmartEquip is an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both original equipment manufacturers and dealers. SmartEquip generates its revenues by delivering to its customers a real-time service and diagnostic support for the assets in their fleets and enables the electronic procurement of parts from original equipment manufacturers and their dealers. Please refer to Note 4 for further information.

General Information

12 Months Ended

Dec. 31, 2021

1. General information

Ritchie Bros. Auctioneers Incorporated and its subsidiaries (collectively referred to as the “Company”) provide a marketplace for insights, services and transaction solutions for commercial assets. The Company offers its customers end-to-end transaction solutions for used commercial and other durable assets through its omnichannel platform, which includes auctions, online marketplaces, listing services, and private brokerage services. The Company also offers a wide array of value-added services connected to commercial assets as well as asset management software and data as a service solutions to help customers make more accurate and reliable business decisions. Ritchie Bros. Auctioneers Incorporated is a company incorporated in Canada under the Canada Business Corporations Act, whose shares are publicly traded on the Toronto Stock Exchange (“TSX”) and the New York Stock Exchange (“NYSE”).

On November 2, 2021, the Company acquired all the issued and outstanding common shares of SmartEquip Inc. (“SmartEquip”), which has been consolidated from the date of acquisition. SmartEquip is an innovative technology platform that supports customers' management of the equipment lifecycle and integrates parts procurement with both original equipment manufacturers and dealers. SmartEquip generates its revenues by delivering to its customers a real-time service and diagnostic support for the assets in their fleets and enables the electronic procurement of parts from original equipment manufacturers and their dealers. Please refer to Note 4 for further information.