Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Q3 2017 Earnings Conference Call - Final Transcript

Nov 10, 2017 • 11:00 am ET

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Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) Q3 2017 Earnings Conference Call - Final Transcript

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Presentation
Executive
Ravi Saligram

internationally, buy more have committed. We also continue to see great progress without telematics program, and are now well into integrating a dealer portal for joint telematics identification and reporting. We'll commence the North American rollout of the program in October. Through the data sharing and the telematics, we're building a solid foundation for supporting Cat dealers to grow their parts and service business.

The value in the data-sharing is significant. We've already provided thousands of buyer leads, which connects the customers to their Cat support network and the early conversion rate on these leads seems promising. I'm also excited to report that we conducted a RV Live auction at our Narita Japan facility a few days ago, in collaboration with a major Japanese Cat dealer. The auction was the largest ever in Japan and generated a record $9.5 million in GTV. Approximately double the volume of the Narita Grand Opening sale in 2010.

Let me conclude by stating that regaining growth momentum is our number one priority and our teams are committed to doing their very best. And with that, we'd like to open the call to questions from analysts and institutional investors.

As with past calls, we ask that you please limit yourself to one question and one follow up. Operator, would you please open the line to questions?