Ritchie Bros. Auctioneers to open new auction facility in Fort Worth, Texas next week

September 24, 2010

Two-day unreserved public auction features 300-Ton Conventional Truck Crane capable of lifting 24 end-zone score boards at Cowboys Stadium

FORT WORTH, TX, Sept. 24 /PRNewswire-FirstCall/ – Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest industrial auctioneer, will celebrate the official Grand Opening of its new facility at the Company’s permanent auction site located at 6050 Azle Avenue in Lake Worth with a two-day unreserved public auction next Wednesday and Thursday, September 29 and 30, 2010. Ritchie Bros. has been holding auctions in the state of Texas since 1983 and at its permanent 112 +/–acre site in Fort Worth since 1993. Next week, the Company will welcome customers, neighbors and local dignitaries to help celebrate the Grand Opening of a new auction theater and check-in building at their permanent location in Fort Worth. An official ribbon-cutting ceremony, including speeches from Company officials as well as local dignitaries, will take place mid-morning of Day One (Wednesday, September 29) of the auction. Complete auction details, including up-to-date listings and equipment photos, are available at www.rbauction.com.

“We are growing due to the needs of both our local and international customers who participate at our auctions from around the world to find the equipment that best fits their needs,” said David Hobbs, Vice President, Ritchie Bros. Auctioneers. “As we continue to expand in the state of Texas, we look forward to welcoming these loyal buyers and sellers, as well as any new customers, at our brand new facility – while we remain at the same physical location where we have held auctions for almost two decades.”

Customers from more than 100 countries, including every U.S. states as well as all Canadian provinces and territories, have participated at Ritchie Bros. Fort Worth auctions over the last 17 years. And with a current inventory of more than 2,500 heavy equipment items to be sold in next week’s auction, the Company is again set to welcome customers from all around the world.

The September 29 & 30 Fort Worth Grand Opening auction features a large selection of trucks, trailers, aggregate and compaction equipment, wheel loaders, crawler tractors and a large selection of hydraulic excavators, pipelayers and trenchers. The auction also features a selection of cranes and rigging equipment, including a 2000 Link-Belt HC278H 300-Ton 12X6X6 Conventional Truck Crane-capable of lifting 24 of the 25,000-pound end-zone score boards at Cowboys Stadium at the same time. This Crane is located at the auction site and stands with a maximum tip height of 404 ft (approx. 123 m). Also featured in the auction is a 2000 Manitowoc 888 Epic 230-Ton Self Erecting Crawler Crane. Every item in the auction will be sold unreserved to the highest bidder-regardless of price-with no minimum bids or reserve prices.

The auction is open to the public; registration is free. First-time bidders are encouraged to register prior to auction day, due to a refundable deposit requirement. Bids can also be placed online in real time at www.rbauction.com or by proxy by contacting the auction site at +1.817.237.6544. To bid online, bidders need to register online at least two days in advance of the live auction. Certain smaller items at the Fort Worth auction will be sold in an online Timed Auction, with no auctioneer; interested bidders can bid on these smaller items on-site or online. For more details about Ritchie Bros. Timed Auctions, please visit www.rbauction.com/timedauctions.

    Fort Worth Grand Opening auction details:
    -   Location: Ritchie Bros. Auctioneers' Fort Worth permanent auction
        site at 6050 Azle Avenue, Fort Worth, TX 76135
    -   Fort Worth permanent auction site tel: +1.817.237.6544
    -   Grand Opening auction date & time: Wednesday & Thursday, September 29
        & 30, 2010. Auction begins at 8:00 a.m. (local time) each day
    -   Official ribbon-cutting date & time: Wednesday, April 29, 2010-mid-
        morning (exact time TBD)
    -   Unreserved auction is open to the public; registration to bid is free
    -   Anyone can come to the auction site the week before auction day to
        inspect, test and compare items
    -   Bids for the live auction can be made in person at the auction site,
        online in real time at rbauction.com or by proxy
    -   More information, including equipment details and photos, is
        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 42 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 and other media resources, including visuals that can be expected to be seen during the auction as well as images of the HC278H Self-Erecting Conventional Truck Crane, are available for use at http://www.rbauction.com/media.

Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros

SOURCE Ritchie Bros. Auctioneers

Source: newswire

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