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International bidders keep equipment pricing strong at Ritchie Bros. Houston auction

Posted on: Monday, 31 August 2009, 06:00 CDT

HOUSTON, TX, Aug. 31 /PRNewswire-FirstCall/ - More than 2,700 on-site and online bidders from 44 countries registered to bid at the unreserved equipment auction conducted by Ritchie Bros. Auctioneers (NYSE and TSX: RBA) in Houston, Texas last week (August 26 27, 2009). Ritchie Bros., the world's largest industrial auctioneer, sold almost 3,000 items from the construction, transportation, pipeline and other industries over two days, generating gross auction proceeds in excess of US$36 million.

Bidders from outside Texas purchased more than US$20 million of equipment (56 percent of the total). Out-of-country bidders purchased more than US$9 million (26 percent). Approximately 1,500 people registered to bid in person at the Houston auction site; the other 1,200 registered to bid online in real time at www.rbauction.com. Online bidders purchased more than US$9 million of equipment and trucks (25 percent of the total).

"We had another excellent sale at our new permanent auction site in Houston," said Alan McVicker, Ritchie Bros. Regional Manager. "The large selection of good quality equipment and trucks - and the knowledge that every item would be sold to the highest bidder on auction day in a fair, transparent manner - attracted thousands of bidders to Houston. There is so much doom and gloom out there but, thanks to the participation of a large global bidding audience, prices were strong across the board at our Houston auction. Pipeline equipment and cranes sold particularly well."

Among the equipment sold at the Houston auction: 30 cranes, over 30 crawler pipelayers, almost 50 wheel loaders, over 80 crawler tractors, over 70 hydraulic excavators, more than 60 loader backhoes, over 70 skid steer loaders and over 120 truck tractors.

Ritchie Bros. will conduct the next unreserved public auction at its Houston auction site from November 17-19, 2009. There are 62 other unreserved Ritchie Bros. auctions on the upcoming auction calendar at 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 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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