• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Ritchie Bros. Orlando site hosts Company's largest three-day U.S. auction

Posted on: Monday, 1 June 2009, 06:00 CDT

ORLANDO, FL, June 1 /PRNewswire-FirstCall/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA) conducted the largest three-day U.S. auction in Company history last week, selling almost US$75 million of heavy equipment and trucks during an unreserved public auction at its permanent auction site in Orlando, Florida. The auction attracted more than 2,300 on-site and online bidders from 57 countries, including 49 U.S. states. Bidders from outside Florida purchased US$56 million of equipment (75 percent of the total gross auction proceeds), including US$20 million purchased by out-of-country buyers (26 percent). Ritchie Bros. (www.rbauction.com), the world's largest industrial auctioneer, conducted the record-breaking auction from May 27 - 29, 2009.

"The size of this auction demonstrates that our consignors have confidence in our unreserved auctions, regardless of the local market conditions, and shows that their confidence is well placed," said Gary Seybold, Ritchie Bros. Divisional Manager. "We had a great selection of late model equipment in last week's auction, and the knowledge that every item would be sold in a fair, unreserved manner brought in thousands of domestic and international bidders. We saw active bidding on-site and online, with strong prices as a result. Cranes attracted a lot of international attention - one bidder from Mexico purchased five hydraulic truck cranes over the internet."

Orlando auction quick facts - May 27 - 29, 2009 - Orlando, FL - Almost US$75 million in gross auction proceeds - More than US$17 million in online gross auction proceeds - 3,300+ lots sold - 2,300+ unique bidders (total) - 1,200+ unique bidders (online)

Ritchie Bros.' Orlando auction site also hosted the largest auction in Company history in February 2008 (a US$190 million, five-day auction). There are 84 unreserved auctions in 10 countries on the Ritchie Bros. auction calendar at www.rbauction.com. The next auction at the Orlando auction site takes place on October 14 & 15, 2009.

About Ritchie Bros.

Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the world's largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. The Company has over 110 locations in more than 25 countries including 38 auction sites worldwide. Ritchie Bros. sells, through unreserved public auctions, a broad range of used and unused industrial assets, including equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.

Investors and potential investors should note that this information may not be indicative of the overall financial performance of the Company for this or any period.

SOURCE Ritchie Bros. Auctioneers

Source: PR Newswire

More News in this Category