Ritchie Bros. breaks Fort Worth records during busy auction week

    
    Nine successful auctions held last week, including first-ever India
    auction
    

VANCOUVER, Sept. 28 /CNW/ - For the second time this year, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) - the world's largest industrial auctioneer - conducted a US$66 million unreserved public auction in the state of Texas. From September 23-25, 2009, the Company held its Fort Worth, Texas auction at the Company's permanent auction site and broke Fort Worth records for largest gross auction proceeds (total and online), most registered bidders (total and online), and most buyers (total and online). Ritchie Bros. conducted a slightly larger auction this year at its Houston Grand Opening sale in March. Nine unreserved public auctions were conducted by Ritchie Bros. last week, including a CA$22 million (US$20 million) two-day auction in Grande Prairie, Alberta; a 37 million Euro (US$55 million) three-day auction in Moerdijk, the Netherlands; as well as auctions in Morris, Illinois; Cargill, Ontario; Statesville, North Carolina and Montreal, Quebec. Last week also marked the Company's return to Perth, Australia with a successful multi-million dollar unreserved public auction. A highlight of last week's auction calendar was the Company's first-ever auction in India, which took place on Friday, September 25th in Hyderabad.

    
    Fort Worth, Texas - September 23-25, 2009
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More than 3,600 bidders from 40 countries, including 48 US states, 10 Canadian provinces and one Canadian territory, registered for the US$66 million Fort Worth auction. Two-thirds of the equipment was purchased by out of state buyers.

"We have never had two auction sites in the same state hold auctions this large within months of each other," said Kieran Holm, Area Manager for Ritchie Bros. Auctioneers in Fort Worth, Texas. "We had big crowds all three days, with very active bidding both in-person and online. The bidders were here to buy and they traveled to our auction site from as far away as Australia to bid in-person on auction day."

Mart Jordan, president of Jordan Paving in Fort Worth, sold an asphalt plant with components in the auction last week for over US$1.1 million.

"We sold with Ritchie Bros. because they seem to have the most buyers and you've got to have a crowd full of buyers to get the price you need. Ritchie Bros. did a good job and got us the most money for our items on the day."

    
    Fort Worth auction quick facts
     -  Over US$66 million of equipment sold
     -  Online bidders purchased close to US$16 million of equipment
     -  3,700+ equipment items
     -  3,650+ bidders (total)
     -  1,150+ online bidders
    

J&K Dozer Inc., based in Oklahoma, sold their equipment in a complete dispersal as they are realigning their business.

"I've always dealt with Ritchie Bros. when selling equipment," said Jon Diehl, president of the company. "We had quality equipment to sell and the auction went quite well. We were pleased with the diversity in the crowd. My items even sold to people in Australia and Papa New Guinea."

    
    Moerdijk, the Netherlands - September 23-25, 2009
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More than 1,300 bidders from 63 countries around the world registered for the 37 million Euro (US$55 million) Moerdijk auction. Close to 2,900 items were sold to 600 buyers during the three day unreserved public auction. More than 80 percent of the equipment was purchased by out of country buyers.

"There was a very good atmosphere at the Moerdijk auction last week," said Ralf Harders, Regional Manager for Ritchie Bros. Auctioneers. "Equipment prices were stable and even better than expected in some cases. Contractors were some of the biggest buyers."

    
    Grande Prairie, Alberta - September 21-22, 2009
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More than 2,550 bidders from 14 countries, including 26 US states and all Canadian provinces and territories, registered for the CA$22 million (US$20 million) Grande Prairie, Alberta auction. It was the last auction to take place at the Company's current location in Grande Prairie, prior to the grand opening of its new permanent auction site in the city, taking place on November 25-26, 2009. More than 1,950 items were sold to close to 800 buyers during the two-day auction.

"We had a very successful auction in Grande Prairie last week, with quality trucks and equipment being sold for good prices," said Brian Podruzny, Regional Manager for Ritchie Bros. Auctioneers. "Specialized oilfield trucks and trailers sold very strongly; there was a lot of excitement on auction day. Seventy-nine per cent of the trucks and equipment was sold to Alberta buyers."

    
    Hyderabad, India - September 25, 2009
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Hundreds of bidders from all over India, as well as from the United Arab Emirates, Japan, Lebanon, Singapore, Thailand and Canada, registered for the Company's first ever auction in India.

"It was a great auction," said Sameer Malhotra, Area Manager for Ritchie Bros. Auctioneers. "We welcomed hundreds of visitors to the auction site, of which more than 200 registered to bid. Even though we welcomed so many new customers, they felt comfortable placing bids and clearly came to Hyderabad to buy equipment. Everyone at the auction, including our own staff, enjoyed the excitement of the first ever Ritchie Bros. auction in India and this resulted in a fantastic atmosphere."

There are 79 unreserved Ritchie Bros. auctions on the upcoming auction calendar at www.rbauction.com, including the grand opening auction at the Company's new Grande Prairie permanent auction site (November 25-26); the Company's next Moerdijk auction (November 25-27); and the next auction in Fort Worth (December 2-4).

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 39 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 www.RitchieWiki.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.

Attention Media: Aerial photos taken last week at the Fort Worth auction yard are available for your use at www.rbauction.com/media

SOURCE Ritchie Bros. Auctioneers

For further information: For further information: Kim Schulz, Manager, Corporate Communications, Ritchie Bros. Auctioneers, Mobile: (604) 788-5379, email: kschulz@rbauction.com


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