PHOENIX, Sept. 17 /CNW/ - Buyers came from as far away as Australia,
Qatar and Mexico to attend the US$28 million unreserved industrial auction
conducted by Ritchie Bros. Auctioneers (NYSE and TSX: RBA) in Phoenix, Arizona
last week. Almost 1,700 construction, transportation and other industrial
equipment items were sold on behalf of more than 250 consignors at the public
auction, attracting over 1,600 registered bidders from 27 countries, including
46 U.S. states and nine Canadian provinces. Buyers from outside the state of
Arizona purchased almost half of the equipment in the auction, representing
US$19 million in gross auction proceeds (almost 70 per cent of the total).
Ritchie Bros., the world's largest auctioneer of trucks and industrial
equipment, conducted the unreserved auction at its permanent auction facility
in Phoenix on September 13 & 14, 2007.
"We saw two days of really strong results," said Dan White, Ritchie Bros.
Regional Manager. "The global market positively impacted equipment prices at
the auction. We had a large number of out-of-town bidders and saw a lot of
equipment leaving the state of Arizona, where the market is relatively soft
right now. As a result, our local consignors were able to achieve global
market value for their surplus assets. Returns on excavators, wheel loaders
and water trucks were particularly strong."
More than 640 registered bidders participated in the auction online using
the Company's real time internet bidding service, rbauctionBid-Live. Online
bidders purchased more than US$7 million worth of trucks and equipment in the
auction, but many out-of-state bidders chose to travel to Phoenix to bid in
person. An onsite buyer from Australia purchased more than US$1.5 million
worth of equipment in the auction, including 12 wheel loaders; an onsite buyer
from Mexico purchased a number of items, including wheel loaders, a motor
grader, crawler tractor, hydraulic excavator and water truck; and another
onsite buyer from Qatar purchased a hydraulic excavator.
"Many of our customers travel a long way to attend our auctions," said
Mr. White. "Our internet bidding service is an easy and convenient service for
people who want to buy specific equipment and can't make it to our site on
auction day, but it will never replace the experience of bidding at an auction
in person. You can inspect and test the equipment yourself and meet with other
people in the industry. Coming to a Ritchie Bros. auction is an event. It's a
lot of fun."
More than 33,000 lots will be sold in 45 industrial and 15 agricultural
unreserved auctions on the upcoming Ritchie Bros. auction calendar. Details on
all upcoming Ritchie Bros. auctions are available on www.rbauction.com.
About Ritchie Bros.
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 website at www.rbauction.com.
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, Tel: 1-800-663-8457 or Email: