Retiring Steffan family to sell Red Deer property, car and home contents at Ritchie Bros. unreserved auction

The Steffans will fulfill their dream of taking a cross-continent road trip after the auction

RED DEER, AB, Sept. 29, 2011 /CNW/ - On October 15, 2011, Ken and Gayle Steffan will sell their residential acreage and executive home in Red Deer, Alberta, along with their car and much of the home's contents, at an on-site unreserved public auction conducted by Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer (www.rbauction.com). The Steffans are set to retire and plan on fulfilling their dream of travelling throughout Canada and the U.S. in their motor home.

The property is 1.83± title acres with a 2,650± sq. foot, four-bedroom home. The Steffans are selling close to 80 items in the auction, including their 2008 Chevrolet Corvette convertible, three flat screen TVs, furniture, a John Deere utility tractor, lawn mowers, snowmobiles, a skid steer loader and a boat. Every item will be sold to the highest bidder on auction day, with no minimum bids or reserve prices—including the house.

"The certainty of sale makes this a great opportunity for both the buyers and sellers," said Tyler Ruttan, Area Manager, Ritchie Bros. Auctioneers. "There's a fantastic selection of items at this auction, and buyers should make sure they're registered to bid so they don't miss out."

The Red Deer auction is open to the public. Anyone can bid in person on auction day, online in real time or by proxy. Auction and bidding details, including property and item photos, can be found at www.rbauction.com.

The Steffans have bought equipment at Ritchie Bros. auctions in the past, and this will be their first time selling.

"We chose to sell through Ritchie Bros. because they're honest and upfront," says Ken Steffan, "and we knew their advertising would help us reach bidders worldwide. Our house, car and other home items will all be sold to new owners in one day which makes it much easier for us."

In April of this year, Ritchie Bros. conducted an auction in Lacombe, Alberta for Dean and Vicki Gordon who sold 374 items including 10 parcels of real estate. The auction attracted almost 900 bidders from across Canada and 12 other countries, including Italy, Saudi Arabia and Sweden.

"We've had great success with high-end real estate in this area," added Mr. Ruttan, Area Manager. "We're looking forward to helping the Steffans make an easy transition to retirement—and travelling."

The auction will be held on-site at the Steffan's property in Red Deer. The auction starts at 11 a.m. on Saturday, October 15, 2011. The home and real estate will be sold at 12:00 p.m. Interested property buyers can contact Cody Rude (Ritchie Bros. Territory Manager) for more information and to arrange an inspection at 780.722.9777.

Directions to the auction:
From Gasoline Alley in Red Deer, AB, turn right (West) on McKenzie Road and go 1.9 km (1.2 miles), then right 0.2 km (North) on Waskasoo Avenue, then turn right 0.3 km (East) into Oakwood Estates. The auction site is on the right hand side of the road.

About Ritchie Bros.
Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the world's largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. Ritchie Bros. offers services that enable the world's builders to easily and confidently exchange equipment. The Company conducts hundreds of unreserved public auctions each year, selling a broad range of used and unused equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. Ritchie Bros. has over 110 locations in more than 25 countries, including 43 auction sites worldwide. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.

ATTENTION MEDIA: Photos of the Red Deer property and Chevrolet Corvette are available for download and use at http://www.rbauction.com/media. Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros.

SOURCE Ritchie Bros. Auctioneers

For further information:

Vicki Cunningham, Supervisor, Corporate Communications, Ritchie Bros. Auctioneers
Phone: +1.778.331.5464 or email vcunningham@rbauction.com

Or

Tyler Ruttan, Area Manager, Ritchie Bros. Auctioneers
Grande Prairie site phone: +1.780.538.1100


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