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Bidders from 33 countries participate in Ritchie Bros. auction in North East

Posted on: Monday, 29 June 2009, 06:00 CDT

NORTH EAST, MD, June 29 /PRNewswire-FirstCall/ - More than 2,400 people from 33 countries registered to bid in the unreserved public auction conducted by Ritchie Bros. Auctioneers (NYSE and TSX: RBA) in North East, Maryland on June 24 & 25, 2009. Ritchie Bros. (www.rbauction.com), the world's largest industrial auctioneer, sold more than 3,200 heavy equipment items and trucks over two days, generating gross auction proceeds in excess of US$25 million. The auction featured a large selection of aerial and lifting equipment, including more than 750 scissorlifts, 250 boom lifts, 100 telescopic forklifts, 90 forklifts and 25 cranes.

Almost 1,600 people registered to bid in person; more than 800 other people registered to bid online in real time. Online bidders purchased almost US$8 million of equipment and trucks (31 percent of the total gross auction proceeds). Out-of-state bidders purchased more than US$21 million of equipment (85 percent), including more than US$5 million of equipment that went to buyers from outside the United States (21 percent).

"The auction went extremely well," said Steve Kriebel, Ritchie Bros. Regional Manager. "The variety and quality of the equipment, and the fact that every item was being sold in a fair, unreserved manner, attracted a global bidding audience to North East. A lot of equipment went to buyers in the United Kingdom, Africa, the Middle East, Mexico and Central America. That international participation helped us deliver strong pricing for our local consignors."

Ritchie Bros. conducted 18 other unreserved public auctions in four countries last week, including the Grand Opening of a new permanent agricultural auction site in London, Ontario on June 24, 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

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