Media Advisory - Ritchie Bros. co-founder to sell 220-ft luxury megayacht in
Ritchie Bros. unreserved auction in Grand Cayman

Apoise - the world's 89th largest yacht - will be sold to the highest bidder, regardless of price

GRAND CAYMAN, Cayman Islands, March 25 /CNW/ - Next week, Dave Ritchie, co-founder of Vancouver, Canada-based Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will sell his 220-ft (67 m) luxury megayacht Apoise at an unreserved auction in Grand Cayman. Ranked as the 89th largest yacht in the world, Apoise was built by world-renowned Lurssen Yachts. It will be sold to the highest bidder on auction day, regardless of price. Ritchie Bros. will conduct the auction at 11:00 a.m. (Eastern) on March 30, 2010. Anyone can watch the auction online at www.rbauction.com.

Dave Ritchie purchased Apoise new when he retired from Ritchie Bros. in 2006. He spent the last four years cruising around the world on Apoise, with the intention of selling the yacht at a Ritchie Bros. unreserved auction after completing his travels. "I really believe in the auction system. An unreserved auction, with no restrictions and no limitations, gives the fairest, most honest valuation of any item," Mr. Ritchie said.

Dave Ritchie, along with his brothers Ken and John, founded Ritchie Bros. Auctioneers in 1958 on two core principles: conducting strictly unreserved auctions and treating every customer with fairness and respect. He led the Company to its current position as the world's largest auctioneer of heavy equipment, with billions of dollars in annual sales and operations worldwide, including 40 auction sites.

    
    WHO:    Dave Ritchie, co-founder of Ritchie Bros. Auctioneers and
            current owner of Apoise
            Ritchie Bros. Auctioneers, the world's largest industrial
            auctioneer

    WHAT:   One-item unreserved megayacht auction in Grand Cayman

    WHEN:   Tuesday, March 30, 2010 at 11:00 a.m. (Eastern)

    WHERE:  Watch the auction online in real time at www.rbauction.com
            The auction will be conducted at the Ritz-Carlton Hotel, Grand
            Cayman, Cayman Islands
    

Find photos, video and more information about Apoise and the auction at www.rbauction.com/theapoise.

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 40 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.

Photos for media: Download high-resolution photos of Apoise and Dave Ritchie from www.rbauction.com/media.

SOURCE Ritchie Bros. Auctioneers

For further information: For further information: Kim Schulz, Manager, Corporate Communications, Ritchie Bros. Auctioneers, Mobile: (604) 788-5379 or email: kschulz@rbauction.com; Or - Stephen Branch, Vice President, Ritchie Bros. Auctioneers, Mobile: (604) 377-2030 or email sbranch@rbauction.com; Or - Ellen Engelsbel, Manager, Ritchie Bros. Auctioneers, Mobile: (604) 790-6678 or email: eengelsbel@rbauction.com


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