Ritchie Bros Auctioneers, announced that it will be holding its first unreserved public auction in China during Spring 2013. Although relatively new to the Chinese heavy equipment market, unreserved industrial auctions have been a quick and easy method for equipment buyers and sellers to conduct business on a global scale. And for more than 50 years now, the Canada-based company has been helping the world?s builders to easily and confidently exchange equipment at its auction sites all over the world. Ritchie Bros announced that it will bring the certainty of unreserved auctions to Chinese equipment buyers and sellers now that the company?s wholly owned foreign enterprise application has been approved by the Chinese government - making it the first foreign auction company to receive this approval.