Ritchie Bros to Open Auction Site in Medford

Ritchie Bros. Auctioneers , the world’s largest on-site and online industrial auctioneer, will be celebrating the Grand Opening of its new permanent auction site located between Medford and Owatonna just outside Minneapolis, Minnesota. To mark the opening of the new site, Ritchie Bros. will be conducting an unreserved industrial equipment auction on March 19, 2009 starting at 8:00 a.m. with an official ribbon cutting ceremony scheduled for mid-morning.

The new 120-acre (70 developed acres) Minneapolis auction site located at 6000 Frontage Rd. W. in Medford replaces the Company’s former 28-acre Minneapolis auction site located in Lakeville. The Lakeville site, where the Company held auctions since 1991, will be sold in the Company’s second unreserved auction at the new location in June. Of the 120 acres, 70 are developed with 50 acres left to facilitate future expansion. The new Minneapolis site features a new 30,653-square foot auction building housing a 561-seat auction theater as well as a 27,291-square foot building for refurbishing equipment. Four of the Company’s 340 unreserved auctions are held annually in Minneapolis. The opening of the new site is just one of 20 auction sites Ritchie Bros. has in the United States and one of 38 auction sites it operates globally.

“We are really excited to be able to provide this top-notch facility to our buying and selling customers in the region and around the world,” said Andy Artley, Regional Manager for Ritchie Bros. Auctioneers. “We are located in a very visible and convenient location for people to transport their equipment and trucks to and from our new yard. We have a large auction theater building, which will keep our buying customers comfortable on auction day, and we have a very large yard to accommodate acres and acres of equipment for customers to test out and inspect prior to the auction. It’s a great location to have an auction facility and a great place to do business.”

During the unreserved public auction hundreds of industrial equipment items will be sold including agricultural tractors, crawler tractors, compaction machinery, hydraulic excavators, motor scrapers, skid steer loaders, dump trucks, wheel loaders, truck tractors and trailers. New items will be added to the sale right through to auction day. The unreserved auction will be open to the public and interested buyers can register in person at the new Minneapolis site a few days before auction day or over the internet if they plan on bidding online during the auction. The auction will be completely unreserved, with no minimum bids or reserve prices. Every item is sold to the highest bidder regardless of price.

About Ritchie Bros.

Established in 1958, Ritchie Bros. Auctioneers is the world’s largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. The Company has over 110 locations in more than 25 countries, including 38 auction sites worldwide. Ritchie Bros. 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, agricultural, material handling, mining, forestry, petroleum and marine industries. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.

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