VANCOUVER, March 5 /CNW/ - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE: RBA),
the world's largest auctioneer of industrial equipment, today announces the
results of three large auctions held last week - including a record-breaking
auction in Fort Worth, Texas.
Los Angeles, California
On February 27 and 28, 2007, Ritchie Bros. held an unreserved industrial
auction at the Company's permanent auction site in Los Angeles (Perris),
California. Over 2,700 truck and equipment items were sold at the auction,
generating gross auction sales in excess of US$25 million.
"We had a good selection of equipment and the buyers traveled from near
and far," said Richard Aldersley, Area Manager for Ritchie Bros. Auctioneers.
"There was strong sales and prices were solid - an indication that the market
for used trucks and equipment is still very strong."
Over 2,450 bidders from 22 countries, as well as 43 U.S. states, and
10 Canadian provinces registered to take part in the unreserved industrial
auction. More than 700 of these bidders registered for the auction using the
Company's real-time internet bidding service, rbauctionBid-Live. Internet
buyers purchased over US$4.5 million worth of trucks and equipment items and
were winner or runner-up bidder on 32% of the items available for online
Moerdijk, The Netherlands
The Company held a large auction at its permanent auction site in
Moerdijk, The Netherlands on February 28, March 1 and 2, 2007. More than
3,100 truck and equipment items were sold at the unreserved auction,
generating gross auction sales in excess of 20 million euro (US$26 million).
"It is normal for our auctions to attract bidders from around the world,"
said Ralf Harders, Regional Manager for Ritchie Bros. Auctioneers. "But lately
we have been noticing more and more people attending from Poland and Romania -
countries where we have recently opened offices. Our marketing strategies are
working well in those countries as people there are seeing the benefits of
purchasing at a Ritchie Bros. auction."
More than 950 bidders from 71 countries registered to take part in the
unreserved industrial auction. More than 110 of these bidders registered for
the auction using the Company's internet bidding service, rbauctionBid-Live.
Fort Worth, Texas
Wrapping up the auction week was a three-day unreserved auction held at
the Company's permanent auction site in Fort Worth, Texas on February 28,
March 1 and 2, 2007. More than 3,650 truck and equipment items were sold at
the record-breaking auction for Fort Worth, generating gross auction sales in
excess of US$46 million, a new record for the Fort Worth site.
"This auction attracted more registered bidders than any of our previous
sales in Texas," said David Hobbs, Division Manager for Ritchie Bros.
Auctioneers. "While all categories of trucks and equipment sold well over the
three days, the results for motor graders, larger crawler tractors and loader
backhoes were particularly strong."
Over 3,100 bidders from 34 countries, as well as 49 U.S. states, and
eight Canadian provinces registered to take part in the unreserved industrial
auction. Close to 1,000 of these bidders registered for the auction using the
Company's internet bidding service, rbauctionBid-Live. Internet buyers
purchased over US$9 million worth of trucks and equipment items and were
winner or runner-up bidder on 26% of the items available for online purchase.
This is the most online registered bidders and the highest online gross
auction sales for a Ritchie Bros. auction in Fort Worth.
Currently on the upcoming Ritchie Bros. auction calendar, there are over
38,000 truck and equipment items featured in 40 unreserved industrial auctions
and over 100 unreserved agricultural auctions. Details on all upcoming Ritchie
Bros. auctions, including equipment that will be sold, are available on
The Company also announces that it filed its 2006 Annual Report on Form
40-F, including its audited consolidated financial statements for the year
ended December 31, 2006, with the United States Securities and Exchange
Commission on February 22, 2007, and posted it on the Company's website at
www.rbauction.com. These documents are also available on the SEC website at
www.sec.com. Shareholders wishing to receive a free-of-charge hard copy of the
Company's complete audited consolidated financial statements may do so by
contacting the Company's Corporate Secretary at 6500 River Road, Richmond, BC,
Canada, V6X 4G5.
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 equipment including equipment 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: Ritchie Bros. Auctioneers, Kim Schulz,
Corporate Communications Manager, 1-800-663-8457 or (604) 273-7564, Email:
firstname.lastname@example.org, Website: www.rbauction.com