Company also attracts record number of bidders to US$28 million auction
in AtlantaVANCOUVER, March 30 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX:
RBA), the world's largest industrial auctioneer, attracted more than 4,400
bidders to the record-breaking US$66 million Grand Opening auction at its new
permanent auction site in Houston, Texas last week (March 25 - 27, 2009). The
unreserved public auction broke every Houston auction record for Ritchie
Bros., including total sales, online sales, number of lots sold, number of
bidders and number of online bidders, as well as being the largest three-day
auction in Company history. Ritchie Bros. conducted seven other auctions
around the world last week, including a US$28 million auction in Atlanta,
Georgia that set site records for on-site and online bidder registrations
(March 26 & 27).
HOUSTON, TEXAS - Ritchie Bros. sold US$66 million of heavy equipment and
trucks during the Grand Opening auction at its new Houston auction site on
March 25 - 27, attracting more than 4,400 on-site and online bidders from 49
countries, including 48 U.S. states. Buyers from outside Texas purchased $34
million of equipment (52 percent of the total), including US$17 million
purchased by customers from outside the U.S. (25 percent).
"Our Grand Opening auction was a tremendous success: we welcomed a record
number of bidders from around the world to Houston, including more than 1,000
first-time customers, and delivered record results for our consignors," said
Alan McVicker, Ritchie Bros. Regional Manager. "The size and location of our
new site makes it perfect for our local and international customers. We've got
exceptional highway visibility, a yard that's large enough to display a wide
range of equipment and close proximity to one of the world's largest ports.
Last week's record crowds show there are lots of people working around the
world; they come to our auctions because we have the equipment they need and
we sell it all in a fair, transparent manner. Our ability to consistently
attract large, diverse bidding audiences gives equipment owners the confidence
to sell their surplus assets through us."
Pipeline Machinery International, a Caterpillar dealer, has sold
equipment in Ritchie Bros. auctions in Fort Worth, Houston, Edmonton and Dubai
as part of their plan to keep their equipment current and up-to-date. They had
millions of dollars worth of crawler tractors, hydraulic excavators and pipe
layers in the Houston auction.
"Traditionally we haven't sold too much equipment in the Ritchie Bros.
Houston location, but now with a state-of-the-art new auction facility we see
Houston as being a great place to do business," said Tony Fernandez, vice
president of Pipeline Machinery. "With the ports of Galveston and Houston
located so close to the yard, and the easy access from the airports, it's
obvious that the new site is helping to attract more buyers and consignors. A
great crowd was at the auction and our equipment prices were very good."HOUSTON AUCTION RESULTS (MARCH 25 - 27, 2009)
Total gross auction proceeds: US$66 million
Amount sold online: US$12 million
Lots sold: 4,300+
Bidders (total): 4,400+
Bidders (online): 1,410+Ritchie Bros.' new 130-acre Houston site replaces its 40-acre permanent
auction site on I-10 in Houston. Ritchie Bros. will sell its former Houston
auction site during its next unreserved public auction in Houston (June 3 -
5). The 40-acre site will be sold with no minimum bids or reserves. Visit
www.rbauction.com for more information.PHOTOS: Download Houston Grand Opening auction photos and site aerials at
www.rbauction.com/media.ATLANTA, GEORGIA - A record number of bidders turned out to bid on almost
US$28 million of heavy equipment and trucks sold on March 26 & 27 at Ritchie
Bros.' Atlanta, Georgia auction site. Close to 2,000 people from 32 countries
registered to bid (900 online, 1,100 on-site), setting new Atlanta site
records for both on-site and online bidder registrations. Buyers from outside
Georgia purchased $21 million of equipment (76 percent of the total),
including US$4 million purchased by customers from outside the U.S. -
including buyers who came from as far away as the U.K., Venezuela and Canada
to bid in person at the auction site.
"It was great to see so many people bidding at our Atlanta auction site,
especially with the Grand Opening taking place in Houston at the same time,"
said Darrin Hogeboom, Ritchie Bros. Regional Manager. "With record numbers of
bidders at the site and on the internet, we were able to help our customers
turn their surplus equipment into cash - quickly, efficiently and for maximum
value. Right now, cash is king, and that's making our unreserved auctions the
preferred selling channel for many banks, dealers and companies who can't
afford to wait for their assets to sell. And the huge selection of used
equipment being sold is making our auctions even more appealing to buyers."
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. 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.
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.
For further information: Kim Schulz, Corporate Communications Manager,
Ritchie Bros. Auctioneers, Mobile: (604) 788-5379 or email:
kschulz@rbauction.com; Or Alan McVicker, Regional Manager, Ritchie Bros.
Auctioneers, Houston auction site tel: (713) 455-5200; Or Darrin Hogeboom,
Regional Manager, Ritchie Bros. Auctioneers, Atlanta auction site tel: (770)
304-3355
