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Ritchie Bros. to conduct unreserved equipment auction in Grand Junction, Colorado

Posted on: Wednesday, 8 July 2009, 13:03 CDT

GRAND JUNCTION, CO, July 8 /PRNewswire-FirstCall/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, is conducting an unreserved public equipment auction on Thursday, July 30, 2009 starting at 8:00 a.m. in the city of Grand Junction situated close to the Utah and Colorado state border. It's the first time in more than 50 years of business that the Company has held an auction in Grand Junction.

Close to 100 equipment items are being sold in the auction for various owners including Dirtmeister, Rifle Equipment Inc., Riverbend Machinery Inc. and Screaming Eagle Trucks & Excavating. Rifle Equipment Inc., a rental dealer based in Rifle, Colorado, located east of Grand Junction, has consigned just over 20 pieces of equipment to the sale, including four late-model Peterbilt vacuum trucks, one of which is an unused 2009 Peterbilt 340 80 BBL. The vacuum trucks are used to dispose of hazardous material from gas and oil fields.

"The oil and gas industry here has declined during the past year, which is evident from the amount of idle equipment in the area right now," said Steve Merich, Regional Manager, Ritchie Bros. Auctioneers. "The good thing about a Ritchie Bros. auction is that we take local equipment and sell it to the world on auction day. The equipment we're selling in the unreserved auction is in excellent condition and we're planning to add more equipment over the next few weeks - we'll be taking consignments all month."

The large quantity of construction equipment to be sold in the unreserved public auction includes: crawler tractors, wheel loaders, hydraulic excavators, motor graders and compaction equipment. The auction will also feature a selection of different trucks including winch, water, dump and fuel & lube trucks as well as various trailers. Each item in the auction will be sold unreserved on auction day to the highest bidders with no minimum bids or reserve prices.

Auction details --------------- - Location: 2012 River Road, Grand Junction, CO 81505 - Sale Site Phone: +1.970.535.6700 - Time and date: 8:00 a.m. auction start on Thursday, July 30, 2009 - Open to the public; registration to bid is free - On-site registration starts on July 25, 2009 after 12:00 p.m. The auction site will also be open at that time for customers to come to inspect, test and compare the equipment - Interested buyers can register to bid in person or over the internet days before the auction. Visit the auction site to register to bid in person; photo I.D. is required. Customers can inspect equipment during regular business hours leading up to the auction. Internet bidders must register online before auction day at www.rbauction.com; at least 2-3 business days is recommended for first-time internet bidders - Equipment details, including photos, are available on the Ritchie Bros. web site: www.rbauction,com

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 39 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.

SOURCE Ritchie Bros. Auctioneers

Source: PR Newswire

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