VANCOUVER, April 6 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA),
the world's largest industrial auctioneer, conducted 13 unreserved public
auctions across North America last week, including the largest Reno, Nevada
auction in Company history. In addition to the US$23 million Reno auction on
April 3, 2009, Ritchie Bros. conducted a US$26 million auction at its
permanent auction site in North East, Maryland on April 1 & 2.
NORTH EAST, MARYLAND - Almost 3,000 people from 31 countries, including
49 U.S. states, registered to bid on-site or online at the US$26 million
auction conducted by Ritchie Bros. in North East, Maryland on April 1 & 2,
2009. About one-third of the bidders participated online, purchasing US$8
million of equipment (31 percent of the total). Out-of-state buyers spent
US$22 million at the auction, with almost US$3 million of equipment being sold
to buyers from outside the United States - including on-site buyers from as
far away as India, Ireland and Ghana.
"We had an excellent sale, with active on-site and online bidding and
decent prices across the board," said Steve Kriebel, Ritchie Bros. Regional
Manager. "There were thousands of people at the site. Most of them were
looking for equipment to put to work, but many of them are also thinking of
selling equipment in the near future. The strength of the global bidding
created an air of optimism; a lot of people said the results gave them the
confidence to sell at our next auction."
Close to 300 consignors sold almost 2,700 truck and equipment items at
the unreserved auction, including Manassas, Virginia-based Summit USA Land
"For us, the auction was all about cash flow," said Thomas Knight, Vice
President of Summit. "We've had three rounds of equipment disposal in the past
year. As far as we're concerned, if equipment isn't making us money, it's
costing us money. If it's idle, we sell it. We were pleasantly surprised by
the prices we achieved. It was a positive result for us - and if things pick
up, we'll be back at Ritchie Bros. buying the equipment we need."
RENO, NEVADA - Last week Ritchie Bros. conducted the largest Reno, Nevada
auction in over 25 years of conducting auctions at temporary auction sites in
the region. The April 3, 2009 auction generated gross auction proceeds in
excess of US$23 million. Almost 1,800 people from 23 countries registered to
bid on auction day, including more than 870 people who registered to bid
online in real time. Internet bidders purchased US$9 million of equipment (40
percent of the total amount sold). Out-of-state bidders purchased US$21
million of equipment (89 percent of the total), including US$4 million of
equipment purchased by out-of-country bidders (16 percent).
"The great selection of quality equipment and our commitment to truly
unreserved auctions brought the bidders out to Reno and helped us deliver
exceptional results for our consignors," said Mike Johnston, Ritchie Bros.
Divisional Manager. "It was a fun auction: there was so much energy among the
bidders at the auction site. There's a lot of equipment for sale right now,
but the people who are looking to buy choose to come to our auctions because
they know we don't play games and we sell every item to a new owner on auction
day, with no minimum bids. When you've got people from all over the world
bidding on the same equipment, it means you can generate the best possible
returns for the sellers, and buyers get a fair price."
CAORSO, ITALY - Ritchie Bros. is also very pleased to announce the
completion of the purchase of approximately 62 acres of land in Caorso, Italy
(near Piacenza), on which it intends to build a new permanent auction site to
replace its existing regional auction unit in that region.
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
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:
For further information: Kim Schulz, Corporate Communications Manager,
Ritchie Bros. Auctioneers, Mobile: (604) 788-5379 or email:
firstname.lastname@example.org; Or Steve Kriebel, Regional Manager, Ritchie Bros.
Auctioneers, North East auction site tel: (410) 287-4330; Or Mike Johnston,
Divisional Manager, Ritchie Bros. Auctioneers, Reno auction site tel: (775)
342-6031; Or Guylain Turgeon, Managing Director - Europe, Ritchie Bros.
Auctioneers, Office tel: +31.168.392.200