Ritchie Bros. Proves Strength in Diverse Industries and Regions With Multi-Million Dollar Unreserved Auctions

. June 25, 2007

Ritchie Bros. Auctioneers (TSX: RBA)(NYSE: RBA), the world’s largest auctioneer of trucks and industrial equipment, conducted more than a dozen unreserved industrial and agricultural auctions in North America, Mexico, Australia and Europe over the past week. The two largest were a US$26 million auction in North East, Maryland and a CA$27 million (US$25 million) auction in Grande Prairie, Alberta, both conducted on June 20-21, 2007.

North East, Maryland (June 20-21, 2007)

Interested buyers from across North America and around the world participated in the unreserved auction conducted by Ritchie Bros. Auctioneers in North East, Maryland last week. Close to 3,100 trucks and other industrial equipment items were sold in the US$26 million auction, including 38 truck tractors; over 200 forklifts, scissorlifts and boom lifts; 23 articulated dump trucks; 77 hydraulic excavators; 89 skid steer loaders; 39 trenchers; 45 crawler tractors; 33 crawler loaders; 50 wheel loaders; and 71 loader backhoes.

Almost 2,000 registered bidders from 27 countries, 45 U.S. states and all 10 Canadian provinces participated in the auction-close to one-third of them using the Company’s real time internet bidding service, rbauctionBid-Live. Nearly 350 items, representing over US$7 million worth of gross auction sales, were sold online. Internet bidders from as far away as the United Kingdom, Mexico and the United Arab Emirates purchased equipment in the auction.

“Although it will never replace attending an auction in person, the internet plays an important role in our sales; it gives our consignors a wider audience for their assets and interested buyers better access to the specific equipment they need,” said Steve Kriebel, Ritchie Bros. Regional Manager. “Our ability to bring in serious buyers from across the country and around the world helps our customers achieve global market value for their surplus equipment, which is especially important when local economic conditions are negatively impacting industry.”

Chantilly, Virginia-based excavation contractors J.H. Becker Company consigned more than 30 industrial equipment items in the North East auction, including a number of late-model articulated dump trucks, wheel loaders and crawler loaders. Jeff Becker, the owner of J.H. Becker, has never before bought or sold equipment at a Ritchie Bros. auction.

“Ritchie Bros. made the experience effortless. It’s a soft market right now, and that affects the prices I can get for my equipment locally,” said Mr. Becker. “I got a much better result by selling my iron through Ritchie Bros. and reaching the international market. Ritchie Bros. is best prepared to market equipment in adverse local conditions. I’ll sell with them again, and I’ll be buying equipment at one of their upcoming auctions.”

Grande Prairie, Alberta (June 20-21, 2007)

Over 2,530 equipment items from more than 430 consignors were sold in last week’s unreserved Ritchie Bros. auction in Grande Prairie, Alberta. The auction generated gross auction sales of more than CA$27 million (US$25 million). Over 2,600 registered bidders from 14 countries participated in the auction, almost 520 of them using the Company’s online bidding service, rbauctionBid-Live.

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 assets, including equipment, trucks and other assets utilized in the construction, transportation, material handling, mining, forestry, petroleum, marine, real estate, and agricultural industries. The Company maintains a web site at www.rbauction.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.

Contacts:
Ritchie Bros. Auctioneers
Kim Schulz
Corporate Communications Manager
1-800-663-8457
Email: kschulz@rbauction.com
Website: www.rbauction.com

Category: Auction News

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