New regulations passed by the California Air Resources Board (CARB) on July 26, 2007 are expected to impact most California-based equipment owners, including those participating in two Ritchie Bros. Auctioneers unreserved industrial auctions in California in the coming month. Considered the toughest regulations of their kind in the United States, the new rules effectively require all off-road diesel-fueled equipment with engines greater than 25 horsepower to be retrofitted, re-powered or replaced if they are not in compliance with the new regulations. Approximately 180,000 pieces of equipment in California are affected, including construction equipment. Ritchie Bros., the world’s largest auctioneer of industrial equipment, will conduct the unreserved public auctions at its permanent auction sites in Los Angeles (on August 28 & 29) and Sacramento (on September 6 & 7).

“No one knows what the long-term impact of the regulations will be on the construction industry or on equipment values in California,” said Richard Aldersley, Ritchie Bros. Regional Manager. “But right now, California is probably the best place for out-of-state buyers to find good quality construction equipment. And for California buyers looking to upgrade their fleets to satisfy the new regulations, we’re selling a large selection of tier-compliant construction equipment at the auctions - and it all goes to the highest bidders, regardless of price.”

Among the more than 1600 equipment items being sold in the Los Angeles auction are hydraulic excavators, wheel loaders, loader backhoes, motor scrapers, motor graders, crawler tractors, mixer trucks and a large selection of transportation equipment. The Sacramento auction is still three weeks away but already includes several hundred equipment items. Highlights include two 2006 Cat 623G motor scrapers, a number of late model wheel loaders, and a large selection of crushing equipment, including a 2007 Terex cone crusher.

“We conduct eight regular industrial auctions in California each year, attracting interested buyers from across North America as well as overseas, helping our consignors achieve global market value for their equipment assets,” said Mr. Aldersley. “Owners can contact our sale sites to discuss having their equipment included in the Los Angeles or Sacramento auctions. We’ll be adding equipment right up until sale day.”

Like all Ritchie Bros. auctions, the Los Angeles and Sacramento auctions will be open to the public and 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 auctions, including photos, on the Ritchie Bros. web site at www.rbauction.com. Bidders can also visit Ritchie Bros.’ Los Angeles or Sacramento sites to inspect and test equipment prior to auction day. Equipment owners wanting to have their equipment included in either auction can contact the Los Angeles sale site at 951-940-9441 or the Sacramento sale site at 530-724-3900.

BID ONLINE - Interested buyers who are unable to attend the auctions in person are able to bid online, live and in real time, using the Ritchie Bros. internet bidding service, rbauctionBid-Live. Internet bidders must register online before auction day at www.rbauction.com (at least 2-3 business days is recommended for first-time registrants).

Posted: 08|13|07 at 4:30 pm. Filed under: Press Release.