Company Opens New Colorado Facility, Improving Buyer Selection and
VANCOUVER, April 9 /CNW/ - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE: RBA),
the world's largest auctioneer of industrial equipment, announces the results
of two large unreserved auctions held last week. The largest was a two-day
auction in North East, Maryland, which saw buyers make purchases of over
US$42 million in gross auction sales - beating the previous Company Maryland
record of US$30 million. The other large auction held last week was the
Company's grand opening auction in their new permanent auction facility in
Denver, Colorado. Gross auction sales at that two-day auction were more than
US$29 million, beating the previous Company Colorado record of US$22 million.
NORTH EAST, MARYLAND (April 4 & 5, 2007)
The two-day auction in North East, Maryland broke a number of Company
records for that region, including the highest gross auction sales, the most
registered bidders - both in-person and on the internet - the highest online
gross auction sales, and the most auction lots sold.
More than 2,500 registered bidders participated in the two-day unreserved
North East, Maryland auction, which generated gross auction sales of over
US$42 million. Seven hundred of these bidders registered to use the Company's
real-time bidding service, rbauctionBid-Live, which allows people to
participate in the auction live and in real-time over the internet. Buyers
made online purchases of over US$9 million during the auction. More than 3,100
lots were sold throughout the two-day auction.
"We had interested buyers at our auction from 33 countries and 48 US
states," said Steve Kriebel, Ritchie Bros. Regional Manager. "There were large
crowds on both days, with a lot of interest in the car carriers that sold on
our day two truck auction day. Bidders participated in this auction from
around the world in part because our auctions are strictly unreserved.
Everything sells on sale day to the highest bidders at a Ritchie Bros.
auction, with no minimum or reserve prices. It's the only way to conduct a
fair auction, in our opinion."
DENVER, COLORADO (April 5 & 6, 2007)
The Company opened its new permanent auction facility in Mead, Colorado
with a record-breaking two-day unreserved auction, held April 5 & 6, 2007.
"Our replacement facility exceeded our expectations," said Steve Merich,
Regional Manager for Ritchie Bros. Auctioneers. "We had inclement weather on
the second day, but we were able to create an environment that was pleasing to
our buying customers with roll-down doors that kept the auction indoors. Over
and over, we heard from our customers - both buyers and sellers - what a nice
facility we have here and what a great experience it was for them."
More than 3,000 registered bidders participated in the auction, which
generated gross auction sales of over US$29 million. Over 800 of these bidders
registered to use rbauctionBid-Live to bid online. Both a Denver internet
participant record was broken as well as an online gross auction sales record
for a Denver auction, with online purchases totaling over US$5 million.
Registered bidders participated in the auction from 24 countries and 46
U.S. states, with almost half of the bidders coming from outside the state of
"We saw a lot of first-time bidders at this auction," continued Mr.
Merich. "We are in a great location, right off of I-25, and this high profile
location makes a big difference for those who are interested in selling their
equipment with us."
The new 70-acre Mead permanent auction site is one of 18 auction sites
the Company has in the United States, and is a replacement site for the
Company's former 37-acre location in Brighton, Colorado. Ritchie Bros. has a
total of 35 auction sites in the United States, Canada, Australia, Mexico,
Singapore, Europe and the Middle East, including a brand new facility the
Company is opening this week in Columbus, Ohio at its two-day unreserved
auction being held April 11 & 12, 2007.
Currently on the upcoming Ritchie Bros. auction calendar, there are over
21,300 truck and equipment items featured in 35 unreserved industrial auctions
and 95 unreserved agricultural auctions. 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 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, (604) 273-7564 or Toll free: 1-800-663-8457,
Email: firstname.lastname@example.org, Website: www.rbauction.com