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Large selection of late model cranes to be sold in Denver unreserved auction

Posted on: Tuesday, 6 October 2009, 08:30 CDT

DENVER, Oct. 6 /PRNewswire-FirstCall/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will be conducting a large, multi-million dollar unreserved public equipment auction at its permanent auction site in Denver, Colorado on Tuesday, October 20, 2009 starting at 8:00 a.m. The auction will feature more than 450 construction and transportation equipment items and a large selection of cranes, including unused and late model self-erecting crawler cranes and several late model rough terrain cranes. Every item in the auction, including the cranes, will be sold to the highest bidders on auction day with no minimum bids or reserve prices.

"This sale is gearing up to be one of the largest groupings of cranes we've sold in an auction this year," said Steve Merich, Regional Manager, Ritchie Bros. Auctioneers. "We started with a very good initial package of 16 cranes from Energy Transportation Inc., the Wyoming-based heavy-haul and crane & rigging company. The cranes were used to erect wind turbine projects."

The package of cranes signed by Energy Transportation Inc. includes three 2008 Manitowoc self-erecting crawler cranes and ten Grove rough terrain cranes. Most of the cranes in the package are late model. The retail asking price of one of the crawler cranes, an unused 2008 Manitowoc 14000 220 Ton is $1.6 million. "The unused Manitowoc crawler crane comes with a full factory warranty and has never even been put into service," says Merich. "The first time it will be erected will be in our yard."

Additional crane packages have also been signed to the auction by Girardi's Heavy Haul LLC, RMS Cranes LLC and Honnen Equipment Co. Cranes being sold by the three companies include rough terrain, crawler and hydraulic truck cranes and an all-terrain crane, conventional truck crane and boom truck.

According to Merich, a number of local crane companies have also expressed interest in the cranes. "Our auction site is centrally located and these cranes will attract both local and international buyers to the auction. We'll also be able to introduce the buyers of these cranes with transport companies that will assist them in moving them wherever they need to go."

The Denver auction site is still accepting equipment consignments for the sale; owners interested in selling their equipment can phone the Denver auction site at +1.907.535.6700 for further details.

Auction details: ---------------- - Location: Ritchie Bros. Auctioneers permanent auction site, 4444 Ritchie Drive, Longmont, CO 80504 - Denver auction site phone: + 1.970.535.6700 Denver auction site fax: +1.970.535.0168 - Time and date: Tuesday, October 20, 2009 starting at 8:00 a.m. - Open to the public; registration to bid is free - Visit the auction site to register to bid in person; photo I.D. is required. First-time bidders from the U.S. and Canada must place a refundable US$1,000 deposit when they register. 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. - Phone the auction site to place a proxy bid. Phone +1. 1.970.535.6700 - Equipment details, including photos, are available 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 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.

ATTENTION MEDIA: Photos of the late model cranes including the unused 2008 Manitowoc 14000 220 Ton crawler crane are available for your use at www.rbauction.com/media or by calling Kim Schulz at the contact number below.

SOURCE Ritchie Bros. Auctioneers

Source: PR Newswire

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