Fractional ownership shares in luxury Radium Hot Springs resort to be sold without reserves at Ritchie Bros. auction



    RADIUM HOT SPRINGS, BC, May 12 /CNW/ - In under three weeks, four
fractional ownership shares in the luxury Bighorn Meadows Resort in Radium Hot
Springs, B.C., will be sold to the highest bidders - regardless of price - at
an unreserved auction being conducted by Ritchie Bros. Auctioneers (NYSE and
TSX: RBA). Situated alongside the platinum-rated Springs at Radium golf
course, Bighorn Meadows offers all the amenities of a luxury resort with a
wealth of nearby recreational opportunities at Lake Windermere, Kootenay
National Park and the Rocky Mountains. The resort is a three-hour drive from
Calgary. Two one-quarter shares and two one-eighth shares will be sold without
reserve prices or minimum bids during an unreserved public auction in
Vancouver, B.C. on May 30, 2009. Interested buyers who are unable to attend
the Vancouver auction in person can bid online in real time, or by proxy.
    "This is probably the first time we've sold fractional ownership shares
at one of our unreserved auctions, and it's a fantastic opportunity for anyone
looking to invest in recreational property near the Rockies," said Ellen
Engelsbel of Ritchie Bros. "We're selling four shares in a high-end resort on
May 30 and every share will be sold to the highest bidder on auction day, with
no minimum bids or reserve prices. Bidding in person or online is easy.
Potential buyers can find all the information they need on our web site at
www.rbauction.com."
    The nine-acre Bighorn Meadows Resort has 123 spacious, self-contained
suites featuring designer fixtures and furnishings, walkout balconies and
stunning views. The first nine phases of the development are complete and 85
percent of the units have been sold, primarily to Albertans. The resort has an
outdoor pool, hot tub, BBQ facilities and other amenities; an indoor water
park and recreation centre will be added during phase 10.
    "Our vision is to provide high end, hassle free luxury living for our
guests and owners," said Randy Trapp, Bighorn Meadows Vice President of Real
Estate. "The resort is in a beautiful natural setting, easily accessible from
major centres in B.C. and Alberta but miles away from the bustle and stress of
city life. Guests at the Bighorn Meadows can relax and unwind at the resort or
enjoy the numerous year-round recreational opportunities in the area. If our
owners don't use their allotted vacation weeks at the resort, they can rent
out their property or use their time at one of our affiliated resorts around
the world. Fractional ownership offers the flexibility and ease of a time
share property, with the benefit of actually owning a piece of real estate."
    Several other recreational and residential properties will also be sold
in the unreserved auction on May 30, including five fully-serviced lakefront
and lake view home sites in the Nicola Lakeshores Estates in Merritt, B.C.;
seven fully-serviced home sites in the Merritt Plateau overlooking B.C.'s
Nicola Valley; and a luxury condo in the Onyx at Craig Bay in Parksville, B.C.
    Four fractional ownership shares in the Bighorn Meadows Resort will be
sold in the May 30 auction:

    
    -   Two one-quarter shares in No. 800 - 835 Bighorn Blvd. (one bedroom +
        loft)
    -   Two one-eighth shares in No. 700 - 713 Bighorn Blvd. (two bedroom)

    Auction details:

    -   Auction location: Grand Villa Hotel (4331 Dominion Street, Burnaby,
        B.C. -   alongside Highway One at the Willingdon exit)
    -   Saturday, May 30, 2009
    -   9 a.m. registration starts
    -   10 a.m. "How to Bid" seminar
    -   11 a.m. auction

    How to bid:

    -   In person at the Grand Villa Hotel in Burnaby
    -   In person during a live auction simulcast at the Florentine in
        Merritt, B.C. (4100 Belshaw Street)
    -   Online in real time - register online at least one week in advance at
        www.rbauction.com/onlinebidding
    -   By proxy

    More information:
        Online:
http://www.rbauction.com/property/2009310-vancouver_bc/radium.jsp
        Or phone Ellen Engelsbel, Ritchie Bros. Auctioneers: 604.273.2135

    PHOTOS of the Bighorn Meadows Resort are available to use with your
articles at www.rbauction.com/media.

    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.





For further information:

For further information: Ellen Engelsbel, Manager, Real Estate Business
Services, Ritchie Bros. Auctioneers, Office: (604) 273-2135 or email:
eengelsbel@rbauction.com; Or Kim Schulz, Corporate Communications Manager,
Ritchie Bros. Auctioneers, Mobile: (604) 788-5379 or email:
kschulz@rbauction.com


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