High Prices

Ken, John and Dave did.

Ken, John and Dave lived in Kelowna, BC … where they ran a used furniture store their dad had started … it was going well until one day when the bank suddenly and unexpectedly demanded payment on their outstanding $2,000 loan … the brothers didn’t have it … and were unsure how to raise the money quickly … then a friend suggested maybe holding an auction … so they rented the local scouts hall … and sold enough in one day to pay off the entire loan … and that’s when they had a great idea … while they wouldn’t get rich maybe they could earn a little extra money on the side holding auctions … and that’s what they did … selling used furniture and then used equipment … After about five years of growing success they tried their hand at selling industrial equipment …outdoors .. for one day .. in the little town of Radium, BC .. it was a massive success … so much so that the brothers thought maybe they could get rich doing auctions … so they sold the family furniture store … and the rest is history.

Today, 55 years later, the auction business Ken, John and Dave accidently started in Kelowna when the bank called their loan … is now, with 45 locations around the world, the largest seller of used industrial equipment there is with sales of almost $5 billion per year ... and it is still named after Ken, John and Dave … the Ritchie Brothers!

Ritchie Bros is a great idea .. because when life hands you lemons … auction them off and see what you get!