Ritchie Bros. Consignors Benefit from Global Participation at Multi-Million Dollar Sacramento and Fort Worth Auctions

Ritchie Bros. Auctioneers (NYSE:RBA) (TSX:RBA) conducted 10 unreserved industrial and agricultural auctions in Canada, the United States and Europe last week, including a record-breaking US$31 million auction at the Company’s permanent auction site in Sacramento, California (on December 4 & 5, 2007) and a US$26 million auction at the Company’s permanent auction site in Fort Worth, Texas (on December 6 & 7).

SACRAMENTO, CALIFORNIA – Ritchie Bros. Auctioneers conducted the largest Sacramento auction in company history on December 4 & 5, 2007, selling 2,000 trucks and other industrial equipment items for record gross auction proceeds of US$31 million. The public auction also set new site records for total number of bidders – almost 2,700 people from 30 countries – and number of online bidders. Of the total number of bidders, more than 800 people registered to bid online, live and in real time, using the Ritchie Bros. internet bidding service, rbauctionBid-Live. More than 300 lots, representing proceeds of US$8 million, were purchased by internet bidders.

“Local equipment owners once again benefited from our ability to attract international and out-of-state bidders to Northern California,” said Mike Johnston, Ritchie Bros. Regional Manager. “We had a record number of bidders at the auction, and almost a third of them were from outside California. By attracting so many bidders, from so many regions, we were able to deliver good returns for our consignors – despite the local economic slowdown.”

Twelve Caterpillar 14H motor graders were sold in the auction – all of them to out-of-state buyers, including an onsite bidder from Australia who purchased three and an internet bidder from Saudi Arabia who purchased four.

Petaluma-based North Bay Construction Inc. is a family owned and operated, full-service engineering contractor with operations across Northern California. A Ritchie Bros. customer since 1987, North Bay sold a large selection of equipment in the auction, including wheel loaders, motor scrapers, hydraulic excavators and compactors.

“The great prices we get at the auctions keep us coming back,” said John Barella, president of North Bay Construction Inc. “We brought all of our equipment that does not comply with California’s new off-road diesel equipment regulations to the auction and got significantly higher prices than we anticipated. I think the number of out-of-state bidders had something to do with that. I feel very comfortable selling unreserved. Selling through Ritchie Bros. is the only way to go.”

FORT WORTH, TEXAS – Ritchie Bros. finished another successful year of unreserved auctions at its permanent Fort Worth, Texas site on December 6 & 7, 2007, selling more than 2,700 trucks and other industrial equipment items for total gross auction proceeds of US$26 million. The unreserved public auction attracted over 2,200 registered bidders from 41 countries, including 44 U.S. states and nine Canadian provinces. More than 800 people registered to bid over the internet using rbauctionBid-Live. Internet bidders purchased more than 300 lots, and were runner-up bidder on almost 200 more.

“Overall, it was a strong sale, with very good returns on transportation equipment,” said David Hobbs, Ritchie Bros. Division Manager. “The highlight was probably the sale of a 1992 Krupp 190-ton all-terrain crane for US$480,000 to an internet bidder from Saudi Arabia. The crane was consigned late, but we advertised it on our web site, which receives thousands of unique visitors every day, and through a direct email campaign to our customers – and the results demonstrate that our marketing efforts were successful.”

One of approximately 400 consignors at the auction was Austin Bridge & Road, a division of Austin Industries and a leading producer of concrete paving. The company has been building landmark structures in the southwestern U. S. for nearly 100 years and operates asphalt plants in three Texas cities. Austin Bridge & Road has sold millions of dollars of equipment at Ritchie Bros. auctions over the past decade, including more than 60 items last week in Fort Worth.

“I was really happy with the results of the auction; I received more for my equipment than I thought I would,” said Clay Jones, equipment manager with Austin Bridge & Road. “I’ve dealt with a number of auction companies and Ritchie Bros. is the cream of the crop. They have a good name in the industry, and they attract a lot of buyers. The more people you have looking at your equipment, the more you’re going to get for it. I get good returns through Ritchie Bros. auctions and I wouldn’t sell my equipment any other way.”

There are 21 unreserved industrial and 55 unreserved agricultural auctions 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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