Last updated on April 18, 2014 at 17:24 EDT

Ritchie Bros. to conduct fundraising auction during Las Vegas World of Concrete event

February 1, 2013

LAS VEGAS, NV, Feb. 1, 2013 /PRNewswire/ – Ritchie Bros. Auctioneers (NYSE and
TSX: RBA), the world’s largest industrial auctioneer, will sell more
than 50 items generously donated by various members of the concrete
industry at an upcoming unreserved fundraising auction, all proceeds to
benefit Concrete Industry Management (CIM) programs. The auction takes
place on Wednesday, February 6 at 1:00 p.m. in the north hall of the
Las Vegas Convention Center (N262), and is a part of the four-day World
of Concrete event. On auction day, all items will be sold to the
highest bidders–there are no minimum bids or reserve prices. Bidders
can participate in the auction in-person, online in real time at www.rbauction.com or by proxy.

“All of the funds raised at this charity auction will greatly benefit
the future leaders of the concrete industry,” said Mike Johnston,
Senior Vice President, Sales, Ritchie Bros. Auctioneers. “World of
Concrete and the CIM fundraising auction are great events that we and
our customers look forward to every year. To save our customers time
and money we always try to schedule our first Las Vegas equipment
auction around these annual events. Our bidders have the benefit of
tying two trips into one and our equipment consignors benefit from the
larger, more diverse crowd of potential buyers attending our equipment

The purpose of the Concrete Industry Management (CIM) Program is to
produce graduates grounded in the basics of concrete’s production
techniques and its use in a multitude of construction applications. All
proceeds from the 2013 CIM Auction will benefit the CIM National
Steering Committee (NSC) and support the current CIM programs, the new
Executive MBA program, as well as help fund future program expansion.

Some of the donated auction items include:

        --  2012 Mack Granite Ready Mix Truck
        --  Los Angeles sports weekend getaway (Lakers and Clippers tickets
        --  Ten truck-loads of Portland cement
        --  Chicago sports weekend getaway (Bulls and Blackhawks tickets
        --  New York vacation, including Yankees and Broadway tickets
        --  Indianapolis 500 Motor Speedway experience
        --  Sawgrass golf and beach holiday
        --  Texas golf and relaxation package

For detailed item information, photos and more information about the CIM
auction, visit http://www.rbauction.com/heavy-equipment-auctions/cim-fundraising-auction . The Ritchie Bros. auction calendar currently features more than 100
unreserved public auctions around the world. Visit www.rbauction.com for a complete list of upcoming auctions.

In addition to the CIM fundraising event, Ritchie Bros. will be
conducting an unreserved public auction at its permanent auction site
in Las Vegas, Nevada on February 8, 2013. More than 1,000 heavy
equipment items and trucks are already featured in this auction – with
new items being added daily. The auction also includes a great
selection of specialized concrete paving equipment. For detailed
equipment information, photos and more information about the Las Vegas
auction, visit http://www.rbauction.com/heavy-equipment-auctions/las-vegas-nv.

About Ritchie Bros.

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world’s
largest seller of used equipment for the construction, transportation, agricultural, material handling, energy, mining, forestrymarine and other industries. Ritchie Bros. offers compelling solutions that
make it easy for the world’s builders to buy and sell equipment with
confidence. The Company conducts hundreds of unreserved public auctions
each year, selling more equipment to on-site and online bidders than
any other company in the world (rbauction.com).  The Company also operates an online marketplace through Ritchie
Bros. EquipmentOne (EquipmentOne.com) and a range of value-added services, including equipment financing for
customers through Ritchie Bros. Financial Services (rbauctionfinance.com). The Company has over 110 locations in more than 25 countries,
including 44 auction sites worldwide.

SOURCE Ritchie Bros. Auctioneers

Source: PR Newswire