Ritchie Bros. to sell large inventory of agricultural equipment at upcoming unreserved auctions in the Central U.S.

From January 2010 to March 2011, the Company generated close to US$69 million in U.S. agricultural equipment sales

ST. LOUIS, MO, June 13, 2011 /CNW/ - Ritchie Bros. Auctioneers (NYSE: RBA) and (TSX: RBA), the world's largest industrial auctioneer, is gearing up for a busy summer in the U.S. agricultural equipment marketplace with more than 360 pieces of agricultural machinery and other assets being sold at upcoming auctions in the Central U.S. While almost all Ritchie Bros. auctions include some agricultural equipment, the following auctions have an exceptionally large amount: Minneapolis, MN (June 17), Houston, TX (June 22 - 23), St. Louis, MO, (June 30) and Chicago, IL (August 2). The assortment of agricultural items featured in the auctions includes tractors, combines, headers, sprayers, seed drills and tillage equipment. Bids can be made in person, online in real time at www.rbauction.com or by proxy (with Ritchie Bros. bidding on behalf of the customer).

Ritchie Bros. auctions are open to the public and unreserved, which means every item is sold to the highest bidder with no minimum bids or reserve prices. Equipment owners are also prohibited from buying back their own equipment.

"We have a fair, open and transparent auction method that enables bidders to compete on the items they need with confidence," said Nick Nicholson, Senior Vice President, Ritchie Bros. Auctioneers. "In addition, bidders have the ability to inspect and test multiple items in one central and secured location. Our reputation and the convenience we provide are why buyers have been participating in Ritchie Bros. auctions from distant locations for more than 50 years."

The Ritchie Bros. agricultural equipment marketplace
On a global scale, Ritchie Bros. conducted 106 agricultural auctions in 2010 with average gross auction proceeds of US$1.8 million per auction, which has doubled from US$900,000 in 2009.

From January 2010 to the end of March 2011, the Company sold more than 3,500 agricultural items to 1,900 buyers at unreserved auctions in the U.S. alone. Agricultural equipment sales in the U.S. for that same time period totalled close to US$69 million in gross auction proceeds, with MFWD tractors, 2WD tractors and combines being the top three agricultural equipment items purchased.

"With today's changing agricultural environment including floods, droughts and high commodity prices, it's imperative not only to focus on local or regional markets to sell your equipment, but also to reach national and international buyers in the global market too," explains Mr. Nicholson. "Agricultural equipment values are higher today compared to 10 years ago and with the number of small farms shrinking and large farms growing, the demand for agricultural equipment outside local markets is increasing. It also takes a broader reach today to ensure all potential users are aware of the agricultural equipment available, within and outside their local markets."

Some of the upcoming Central U.S. agricultural auction highlights include:

Minneapolis, MN - June 17
Ritchie Bros. will sell more than 80 agricultural items during an unreserved equipment auction in Minneapolis, MN. Highlights of the auction include 12 late model 9870 & 9770 John Deere combines, 15 Case & New Holland combines, agricultural tractors, headers, seed drills and tillage equipment.
Auction site phone: +1.507.774.5050

Houston, TX - June 22- 23
More than 80 agricultural equipment items will be sold at the upcoming Ritchie Bros. two-day auction in Houston, TX starting on Wednesday, June 22. The auction features more than 1,600 lots, including forestry equipment, trucks and a large selection of heavy equipment. Agricultural equipment highlights include: 38 late model John Deere Premium and Case MX275 tractors most are 2010 and 2009, combines, headers and tillage equipment.
Auction site phone: +1.713.455.5200

St. Louis, MO - June 30
More than 180 agricultural equipment items will be sold at the Ritchie Bros. unreserved auction in St. Louis, MO on June 30, surpassing the number of items sold during the site's Grand Opening auction in June 2009—when 170 agricultural items were sold for close to US$10 million. The line-up of agricultural items in the June 30 St. Louis auction includes: 32 combines, 40+ agricultural tractors, 30+ headers and 10+ sprayers, most of which are 2009 and 2010 models. The agricultural equipment is matched with a similar quantity of construction and transportation equipment.
Auction site phone: +1.618.688.1625

Chicago, IL - August 2
Many late model John Deere combines and Case and John Deere tractors will be sold alongside other industrial and construction assets at the upcoming Chicago auction on August 2.
Auction site phone: +1.815.941.6400

Consignments are still being accepted for all of these auctions; owners interested in selling agricultural or other industrial equipment in the auctions can contact each auction site directly. Complete agricultural equipment listings, photos and auction details are available at www.rbauction.com

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 and other media resources are available for 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:

Jose Vargas, Corporate Communications Specialist, Ritchie Bros. Auctioneers
Phone: +1.778.331.5439 or email jvargas@rbauction.com

Or

Nick Nicholson, Senior Vice President, Ritchie Bros. Auctioneers
Email: nnicholson@rbauction.com


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