Ritchie Bros. Auctioneers Ends Week With Large Auction

. March 5, 2007

Ritchie Bros. Auctioneers (TSX: RBA)(NYSE: RBA), the world’s largest auctioneer of industrial equipment, today announces the results of three large auctions held last week – including a record-breaking auction in Fort Worth, Texas.

Los Angeles, California

On February 27 and 28, 2007, Ritchie Bros. held an unreserved industrial auction at the Company’s permanent auction site in Los Angeles (Perris), California. Over 2,700 truck and equipment items were sold at the auction, generating gross auction sales in excess of US$25 million.

“We had a good selection of equipment and the buyers traveled from near and far,” said Richard Aldersley, Area Manager for Ritchie Bros. Auctioneers. “There was strong sales and prices were solid — an indication that the market for used trucks and equipment is still very strong.”

Over 2,450 bidders from 22 countries, as well as 43 U.S. states, and 10 Canadian provinces registered to take part in the unreserved industrial auction. More than 700 of these bidders registered for the auction using the Company’s real-time internet bidding service, rbauctionBid-Live. Internet buyers purchased over US$4.5 million worth of trucks and equipment items and were winner or runner-up bidder on 32% of the items available for online purchase.

Moerdijk, The Netherlands

The Company held a large auction at its permanent auction site in Moerdijk, The Netherlands on February 28, March 1 and 2, 2007. More than 3,100 truck and equipment items were sold at the unreserved auction, generating gross auction sales in excess of 20 million euro (US$26 million).

“It is normal for our auctions to attract bidders from around the world,” said Ralf Harders, Regional Manager for Ritchie Bros. Auctioneers. “But lately we have been noticing more and more people attending from Poland and Romania – countries where we have recently opened offices. Our marketing strategies are working well in those countries as people there are seeing the benefits of purchasing at a Ritchie Bros. auction.”

More than 950 bidders from 71 countries registered to take part in the unreserved industrial auction. More than 110 of these bidders registered for the auction using the Company’s internet bidding service, rbauctionBid-Live.

Fort Worth, Texas

Wrapping up the auction week was a three-day unreserved auction held at the Company’s permanent auction site in Fort Worth, Texas on February 28, March 1 and 2, 2007. More than 3,650 truck and equipment items were sold at the record-breaking auction for Fort Worth, generating gross auction sales in excess of US$46 million, a new record for the Fort Worth site.

“This auction attracted more registered bidders than any of our previous sales in Texas,” said David Hobbs, Division Manager for Ritchie Bros. Auctioneers. “While all categories of trucks and equipment sold well over the three days, the results for motor graders, larger crawler tractors and loader backhoes were particularly strong.”

Over 3,100 bidders from 34 countries, as well as 49 U.S. states, and eight Canadian provinces registered to take part in the unreserved industrial auction. Close to 1,000 of these bidders registered for the auction using the Company’s internet bidding service, rbauctionBid-Live. Internet buyers purchased over US$9 million worth of trucks and equipment items and were winner or runner-up bidder on 26% of the items available for online purchase. This is the most online registered bidders and the highest online gross auction sales for a Ritchie Bros. auction in Fort Worth.

Currently on the upcoming Ritchie Bros. auction calendar, there are over 38,000 truck and equipment items featured in 40 unreserved industrial auctions and over 100 unreserved agricultural auctions. Details on all upcoming Ritchie Bros. auctions, including equipment that will be sold, are available on www.rbauction.com.

The Company also announces that it filed its 2006 Annual Report on Form 40-F, including its audited consolidated financial statements for the year ended December 31, 2006, with the United States Securities and Exchange Commission on February 22, 2007, and posted it on the Company’s website at www.rbauction.com. These documents are also available on the SEC website at www.sec.com. Shareholders wishing to receive a free-of-charge hard copy of the Company’s complete audited consolidated financial statements may do so by contacting the Company’s Corporate Secretary at 6500 River Road, Richmond, BC, Canada, V6X 4G5.

About Ritchie Bros.

Ritchie Bros. is the world’s largest auctioneer of industrial equipment, operating through over 110 locations in more than 25 countries around the world. The Company sells, through unreserved public auctions, a broad range of used and unused industrial equipment including equipment and other assets utilized in the construction, transportation, material handling, mining, forestry, petroleum, marine, real estate, and agricultural industries. The Company maintains a website at www.rbauction.com.

Category: Auction News

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