Ritchie Bros. Breaks Record for Internet Sales at Forth Worth Site During Multi-Million Dollar Unreserved Auction

Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA), the world’s largest auctioneer of trucks and industrial equipment, conducted a large unreserved auction at its permanent auction facility in Fort Worth, Texas on May 9-11, 2007. The three-day public auction featured more than 3,700 lots and generated close to US$40 million in gross auction sales. More than 2,800 registered bidders from 36 countries, including 48 U.S. states and all 10 Canadian provinces attended the auction either in person or via the internet.

More than 900 of the registered bidders participated in the auction over the internet, live and in real time, using the Company’s online bidding service, rbauctionBid-Live. Internet bidders purchased more than 440 lots in the auction, representing close to US$10 million worth of trucks and equipment-the largest internet sales ever recorded at a Ritchie Bros. auction in Fort Worth. eBidders were winner or runner-up bidder on 32 per cent of the items offered through rbauctionBid-Live.

“We had a huge selection of equipment in this sale, and it brought in a great crowd,” said David Hobbs, Ritchie Bros. Division Manager. “Once again we saw a large number of foreign buyers, from places as far away as Israel, India and Vietnam. The global marketplace continues to take advantage of our regularly scheduled auctions here in Fort Worth and at our other 34 permanent auction sites around the world.”

The auction featured a range of construction, transportation and other equipment from Ranger Excavating Inc., Austin Bridge and Road, Capital Aggregates, Ingram Materials, Glenn Fuqua Inc., Martin Gas Transport Inc., Patterson UTI Drilling, Ryan Materials, Sunbelt Rentals, TeCo Excavation LLC, T J Lambrecht, Zachary Construction Corp., and more than 500 other consignors.

Ranger Excavating, a major excavation and site development contractor in Central Texas, has been consigning equipment with Ritchie Bros. for several years. “We feel it’s a good system and we’re happy with the service-that’s why we keep on coming back,” said Mark McKenzie, president of Ranger Excavating. “We feel Ritchie Bros. auctions get us the best price for our equipment; it’s the most predictable method for selling and the timing of the sales is known, which has real value to us. The prices are better because Ritchie Bros. attracts buyers from around the world.”

More than 31,800 items will be sold in 44 unreserved industrial auctions and 43 unreserved agricultural auctions coming up on the Ritchie Bros. auction calendar. Details on all upcoming Ritchie Bros. auctions are available on 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.

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.

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