The world's largest industrial auctioneer will hold its first unreserved
public auction in China at its leased site in the Tianzhu Free Trade
Zone (Shunyi, Beijing) on April 18, 2013
BEIJING, China, Feb. 1, 2013 /CNW/ - Ritchie Bros. Auctioneers (NYSE:
RBA) (TSX: RBA), the world's largest auctioneer of heavy equipment and
trucks, announced today during a press conference in Beijing that it
will be holding its first unreserved public auction in China on April
18, 2013. In addition to securing an official auction date, the Company
has started receiving its first consignments, which include a mixture
of unused international and local equipment. Current equipment
highlights include an unused 2010 Kato HD820V hydraulic excavator; a
2009 Caterpillar 320D-E hydraulic excavator; and a 2007 Caterpillar D7G
Series II crawler tractor. Today's announcement comes shortly after the
Company's initial announcement in November 2012, during a press
conference at bauma China, where Ritchie Bros. announced that it will
bring the certainty of unreserved auctions to Chinese equipment buyers
and sellers now that the Company's Wholly Owned Foreign Enterprise
application had been approved by the Chinese government.
"Now that we have received approval from the Chinese government, we are
excited to open up the global heavy equipment market to Chinese
equipment owners," said Stephen Branch, Vice President, Ritchie Bros.
Auctioneers. "Our global heavy equipment network is more than 50 years
in the making. Today, it consists of more than 40 auction sites around
the world, an industry-leading website and a suite of value added
services that make our auctions a one-stop-shop for heavy equipment
buyers and sellers. We encourage local and international equipment
owners to participate in this truly global event by contacting our
Beijing office - April is just around the corner!"
One of the first local sellers to consign equipment to the upcoming
Beijing unreserved public auction is Mr. Xie Qianbo, Owner of Shanghai
Jin Jichang Engineering Machinery Co., Ltd. - a Shanghai-based heavy
"I have known Ritchie Bros. for many years now and have attended their
auctions outside of China," said Mr. Xie. "I have seen with my own eyes
the attraction power that Ritchie Bros. has. They have the power to
bring legitimate buyers from around the world who need to buy my
machines in order to put them to work right away. This is why we are
selling our equipment at the first ever Ritchie Bros. auction in China.
The process is simple and trustworthy."
Ritchie Bros. has formally leased land in the Tianzhu Free Trade Zone
(Shunyi, Beijing) in preparation for this first unreserved public
auction in China. Strategically located within minutes of Beijing
Capital International Airport, the Tianzhu Free Trade Zone is connected
to one of China's largest roll-on, roll-off ports in Tianjin. Equipment
buyers and sellers interested in learning more about Ritchie Bros. and
the unreserved auction process are encouraged to visit rbauction.com or contact the Company's Beijing office at +86.400.810.2223.
"For many years we have been learning China's market, customer needs and
behaviors," added Chris Edwards, Ritchie Bros. General Manager for
China, Korea and Mongolia. "It's exciting that we are about to
introduce the unreserved auction process in China, which we believe is
the most fair and transparent way for heavy equipment buyers and
sellers to conduct business."
WHAT EQUIPMENT BUYERS AND SELLERS CAN EXPECT FROM RITCHIE BROS. CHINA
There is a lot of excitement for the arrival of Ritchie Bros. unreserved
public auctions in China. Here are some highlights of the Company's
unreserved auction process:
Sellers benefit from certainty of sale and global market value. In 2012,
the company sold US$3.9 billion of equipment at 328 unreserved
industrial and agricultural auctions around the world.
Chinese equipment owners will be able to dispose of surplus inventory
more efficiently and effectively, thereby generating cash flow and
facilitating sales of new and used equipment.
Ability for Chinese equipment sellers to be part of bigger marketplaces
for their equipment to be sold in.
Access to the global market will help Chinese equipment manufacturers
and sellers build their brands beyond their province: throughout China
Ability to reach on-site and online bidders: the best of both worlds.
Ritchie Bros. is a recognized leader in online equipment auctions. In
2012, 60% of the registered bidders at Ritchie Bros. industrial
auctions participated over the internet; online bidders purchased more
than US$1.3 billion of equipment in 2012.
Large selection of trucks and equipment: The average Ritchie Bros.
industrial auction features 1,300 items from 190 sellers.
Buyers are in control and determine the prices: Ritchie Bros. strictly
forbids owners from bidding on their own items. That means there's no
artificial price manipulation, so buyers can confidently purchase their
equipment at fair market value at a Ritchie Bros. unreserved auction.
Ability to inspect: interested buyers can inspect, test and compare
equipment (or they can bring a mechanic to do it for them) at the
auction site prior to the auction.
Clear titles: Ritchie Bros. identifies and arranges for the release of
any liens or encumbrances on the equipment sold at the Company's
Ritchie Bros. will be able to act as a single point of contact and a
"one stop shop" for overseas buyers looking to purchase equipment from
The opportunity to buy from a professional and reputable Company with
more than 50 years of experience holding unreserved public auctions.
Ability to purchase equipment in the business-friendly environment of
the Tianzhu Free Trade Zone (Shunyi, Beijing): minutes away from the
Beijing Capital International Airport and connected to one of China's
largest roll-on, roll-off ports in Tianjin.
The first Ritchie Bros. Beijing, China unreserved public auction is
currently receiving consignments. Equipment owners interested in
selling equipment at the April 2013 Beijing auction are encouraged to
contact the Company's Beijing office at +86.400.810.2223.
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's
largest seller of used equipment for the construction, transportation, agricultural, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. offers compelling solutions that
make it easy for the world's builders to buy and sell equipment with
confidence. The Company conducts hundreds of unreserved public auctions
each year, selling more equipment to on-site and online bidders than
any other company in the world (rbauction.com). The Company also operates an online marketplace through Ritchie
Bros. EquipmentOne (EquipmentOne.com) and a range of value-added services, including equipment financing for
customers through Ritchie Bros. Financial Services (rbauctionfinance.com). The Company has over 110 locations in more than 25 countries,
including 44 auction sites worldwide.
For photos and additional information about today's announcement, please
Members of the media can follow us on twitter @RitchieBros
SOURCE: Ritchie Bros. Auctioneers
For further information:
Kim Schulz, Manager, Corporate Communications and Events, Ritchie Bros. Auctioneers
Phone: +1.604.788.5379 or email firstname.lastname@example.org