Ritchie Bros. to Conduct First Combined Unreserved Industrial Auction in Dubai and Singapore

. July 24, 2007

For the first time ever, Ritchie Bros. Auctioneers is combining two unreserved industrial auctions, enabling customers in the Middle East to bid live on a wide selection of heavy equipment items being sold at auctions in Dubai and Singapore on the same day. Ritchie Bros., the world’s largest industrial auctioneer, will conduct the combined auction on September 3, 2007 as Day One of a two-day sale at the Company’s Dubai auction site.

The Dubai auction is six weeks away but already includes more than 700 items, including six 2006 Komatsu hydraulic excavators, 15 wheel loaders, nine water trucks, three 2001 Volvo articulated dump trucks and nine cranes (including a 25-ton Tadano hydraulic truck crane). On September 3, after the mobile equipment is sold in Dubai, equipment located in Singapore will be sold using the Ritchie Bros. “Virtual Ramp.” Photos of the Singapore equipment items will be projected onto a large screen and interested buyers in Dubai will be able to place bids live from the comfort of the Ritchie Bros. auction theater. Among the equipment being sold in the Singapore auction: articulated dump trucks, crawler tractors, hydraulic excavators and more than a dozen rock trucks. Equipment will be added to both sales right up until auction day.

“We’re looking forward to offering our customers in the Middle East an even greater selection of equipment through this unique combined auction,” said Stephen Branch, Ritchie Bros. Divisional Manager for the Middle East. “Our internet bidding service, rbauctionBid-Live, enables our customers to bid at auctions around the world, but most still prefer to bid live at one of our sites. By combining these auctions, we’re providing our customers with more choice and the ability to find the right piece of equipment for their needs.”

The unreserved public auction starts at 9:30 a.m. on Monday, September 3 and Tuesday, September 4, 2007 at the Ritchie Bros. auction site in Dubai. Singapore equipment items will be sold on Day One, after equipment located in Dubai is sold. The Singapore auction is a one-day sale, taking place September 3. Like all Ritchie Bros. auctions, the combined Dubai-Singapore auction will be completely unreserved-meaning everything sells to the highest bidder on auction day, regardless of price. There are no minimum bids or reserve prices. Everything is sold “as is, where is.” Registration is free. Interested bidders can find a complete listing of equipment in both the Dubai and Singapore auctions, including photos, on the Ritchie Bros. web site at www.rbauction.com.

Category: Auction News

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