Pender Harbour waterfront acreages will sell to highest bidders at unreserved auction next week



    PENDER HARBOUR, BC, Aug. 27 /CNW/ - Five oceanfront and ocean-view
acreages in Pender Harbour on BC's Sunshine Coast will be sold to the highest
bidders - regardless of price - at an unreserved (absolute) auction in
Vancouver (Richmond), BC next week. Ritchie Bros. Auctioneers (NYSE and TSX:
RBA) will be conducting the unreserved public auction of the five lots - which
range in size from 1.64+/- to 5.58+/- acres - at the River Rock Casino in
Richmond on Wednesday, September 3, 2008. Interested bidders may also register
at the Ritchie Bros. permanent auction site in Edmonton (Nisku), AB where the
auction will be simulcast live.
    The Pender Harbour waterfront acreages have been selectively cleared and
many feature the area's distinctive arbutus trees. They are part of the brand
new 324-acre+/- Sakinaw Ridge subdivision: the only development on the
Sunshine Coast offering large lakefront, oceanfront and ocean view estate
acreages.
    The subdivision offers paved roads and full underground services. The
developer's building scheme encourages a contemporary West Coast building
style featuring natural colors, heavy wood and stone accents. Ten lots have
been sold to date; two multi-million dollar homes are nearing completion.
    Next week's auction will be unreserved, meaning there are no minimum bids
or reserve prices. Every lot will be sold to the highest bidder on auction
day, regardless of price.

    
    WHO    Vancouver-based Ritchie Bros. Auctioneers (www.rbauction.com)

    WHAT   An unreserved real estate auction: five oceanfront and ocean-view
           acreages in Pender Harbour on BC's Sunshine Coast will be sold to
           the highest bidders on auction day, regardless of price

    WHEN   Wednesday, September 3, 2008
       -   Registration starts: 4:00 pm (PT) River Rock Casino
           (8811 River Road), Richmond, BC
       -   Auction-buying seminars: 5:30 pm (PT) River Rock Casino
           (8811 River Road), Richmond, BC
       -   Auction start time: 6:00 pm (PT) River Rock Casino
           (8811 River Road), Richmond, BC

    WHERE
       -   Auction: Fraser Room, River Rock Casino Resort Conference Centre -
           behind the main hotel building (8811 River Road, Richmond, BC)
       -   Live auction simulcast: Ritchie Bros. permanent auction site in
           Edmonton - 1500 Sparrow Drive, Nisku, AB
    

    For more information about the properties or the auction, phone Ellen
Engelsbel at Ritchie Bros.: +1.604.790.6678. Or visit the Ritchie Bros. web
site at www.rbauction.com/property/2008237_pender_harbour_bc.
    The 324+/- acre Sakinaw Ridge development is located in Pender Harbour on
the Sechelt Peninsula, an area renowned for its coastal beauty, arbutus trees,
outdoor recreation opportunities - and abundance of sunshine. The subdivision
is being completed in four phases. Phase One has 28 lots, totaling 75+/-
acres. Ten lots in Phase One have been sold. Five will be sold in the upcoming
Ritchie Bros. auction:
    
           -  Lot 18 - oceanfront - 1.64+/- acres
           -  Lot 19 - oceanfront - 1.69+/- acres
           -  Lot 27 - ocean view - 2.49+/- acres
           -  Lot 28 - ocean view - 3.55+/- acres
           -  Lot 10 - 5.58+/- acres
    

    About Ritchie Bros.

    Established in 1958, Ritchie Bros. is the world's largest auctioneer of
industrial equipment, operating through over 110 locations in more than 25
countries around the world. The Company 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, material handling, mining, forestry, petroleum, marine, real
estate, and agricultural industries. The Company maintains a web site at
www.rbauction.com.





For further information:

For further information: Kim Schulz, Corporate Communications Manager,
Ritchie Bros. Auctioneers, Cell: (604) 788-5379 or email kschulz@rbauction.com
Or Kevin Tink, Senior Vice President, Ritchie Bros. Auctioneers, Office: (780)
538-1100


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