Scott Group of Companies Engages Worlds Largest Industrial Auctioneer to Conduct Unreserved Transportation Auction in Adelaide

. October 25, 2007

AuctionPublicity.com Next week Ritchie Bros. Auctioneers will conduct a multi-million dollar unreserved truck and equipment auction for the Scott Group of Companies and other owners in a unique but appropriate location: Cheltenham Park Racecourse in Adelaide, South Australia. Allan Scott, founder and Chairman of the Scott Group, is almost as well known for his support of Australian horseracing as he is for building the Scott Group into one of Australia’s largest transportation companies. He is a major sponsor of the South Australian Jockey Club, which operates three racetracks: Cheltenham Park, Victoria Park and Allan Scott Park Morphettville.

The unreserved public auction starts at 9 a.m. on Tuesday, October 30 and features more than 330 lots, including a large selection of prime movers, tautliner trucks, tanker trailers and flat top trailers. Like every Ritchie Bros. auction, the sale will be completely unreserved, with no minimum bids and no reserves; every item sells to the highest bidder on auction day, regardless of price. The Scott Group has purchased a large amount of equipment at Ritchie Bros. auctions in the past, but has never sold a package of this size by auction.

“We’ve built up a relationship with Ritchie Bros. over the years and feel comfortable doing business with them, which is very important,” said Raymond Scott, Director of the Scott Group. “We’ve put a lot of good quality equipment in this auction that would be suitable for transportation companies or farmers, but we don’t know what everything will sell for on auction day – it all depends on the bidders.”

“It is a pleasure to be working with the Scott Group again,” said Finlay Massey, Ritchie Bros. Area Manager. “Allan Scott and Raymond Scott are first class individuals. They have been customers for many years and know that we take our commitment to unreserved auctions very seriously. There are no reserves, no minimum bids, and owners are not allowed to bid on their own equipment – so our bidders can be sure it’s a fair auction.”

Established in 1958, Ritchie Bros. is the world’s largest auctioneer of industrial equipment. The Company has 37 auction sites worldwide, including Brisbane and Melbourne. Ritchie Bros. recently conducted two record-breaking auctions in Australia. The Company’s September 18 Brisbane auction generated gross auction proceeds of AU$36 million, setting a new company record for an Australian sale. One buyer purchased AU$16 million worth of equipment at the auction – the largest single-buyer purchase in Ritchie Bros. worldwide history. The Company’s September 20 Melbourne auction generated gross auction proceeds of AU$16 million, setting a new sale record for that site. Ritchie Bros. will conduct its next auctions in Brisbane and Melbourne on November 27 & 29 respectively.

The unreserved public auction in Adelaide starts at 9 a.m. on Tuesday, October 30, 2007 at the Cheltenham Park Racecourse (Torrens Road, Cheltenham, South Australia). The auction is open to the public; registration is free. Interested buyers who are unable to attend the auction 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). A complete listing of equipment being sold, including photos, is available on the Ritchie Bros. web site at www.rbauction.com.

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.

Category: Auction News

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