Ritchie Bros. conducts largest Dubai and Denver auctions in company history



    
    Thousands bid at 11 Ritchie Bros. auctions worldwide, including large
    unreserved auction in Moncofa, Spain
    

    VANCOUVER, June 8 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA),
the world's largest industrial auctioneer, conducted the largest Dubai, United
Arab Emirates and Denver, Colorado auctions in Company history last week.
Ritchie Bros. (www.rbauction.com) sold almost US$46 million of equipment in
Dubai (June 1 - 3, 2009) and almost US$35 million of equipment in Denver (June
4 & 5). The Company conducted nine other unreserved public auctions around the
world last week, including an auction in Moncofa, Spain that generated almost
(euro)21 million (US$29 million) in gross auction proceeds (June 4 & 5).

    DUBAI, UAE - Almost 700 people from 50 countries registered to bid in
person or online at the unreserved auction conducted by Ritchie Bros. at its
auction site in Dubai from June 1 - 3, 2009. Ritchie Bros. sold almost 2,300
heavy equipment items and trucks over three days, generating almost US$46
million in gross auction proceeds. Out-of-country bidders purchased more than
US$30 million of equipment (67 percent). The majority of the equipment went to
buyers from the Middle East, and there were buyers on-site at the auction from
as far away as Australia, India and Singapore.
    "The auction went exceptionally well," said Steve Barritt, Ritchie Bros.
Regional Manager. "This was our first Dubai auction in which we sold more
equipment to buyers from outside the United Arab Emirates than within. Demand
for equipment has been so high for so long in the UAE. While that demand has
slowed recently, it is still strong in the surrounding Gulf countries and
elsewhere in the world. By selling through Ritchie Bros., our local consignors
were still able to reach those areas of strength and achieve strong returns on
their surplus assets, despite the local slowdown."

    DENVER, COLORADO - Ritchie Bros. conducted the largest Colorado auction
in Company history last week, selling almost US$35 million of equipment and
trucks at its permanent auction site in Denver on June 4 & 5, 2009. Almost
3,000 people from 24 countries, including 48 U.S. states, registered to bid in
the unreserved public auction. About 1,900 registered to bid in person; the
other 1,100 registered to bid online in real time. Online bidders purchased
more than US$11 million of equipment - another Denver site record. Bidders
from as far away as Australia, France and the United Arab Emirates registered
to bid on almost 1,900 items, including more than a dozen cranes.
    "A record-breaking auction needs two things: a quality lineup of
equipment and competing bidders who want to own it; we had both in Denver last
week," said Steve Merich, Ritchie Bros. Regional Manager. "Our global
marketing strategy reaches potential buyers from across the U.S. and around
the world. People will look far afield to find the right equipment at fair
market prices. That's what our unreserved auctions offer, whether the auction
is in Denver or Dubai. There was a lot of talk about the strength of pricing
here in Denver last week, which underscores the importance of reaching that
global bidding audience when you're selling in a slow economy."

    MONCOFA, SPAIN - Ritchie Bros. welcomed an international crowd to the
three-day unreserved public auction at its auction site in Moncofa, Spain on
June 3 - 5, 2009. More than 1,000 people from 45 countries registered to bid
in person or online on more than 2,900 heavy equipment items and trucks. The
auction generated almost (euro)21 million (US$29 million) in gross auction
proceeds. Bidders from outside Spain purchased close to (euro)12 million
(US$17 million) of equipment. The auction featured equipment from Hertz and
about 290 other dealers, rental companies and contractors.
    "Once again, we attracted a large international crowd of on-site and
online bidders to our Moncofa auction site," said Jeroen Rijk, Ritchie Bros.
Divisional Manager. "Active bidding from a diverse audience of bidders helped
us deliver strong returns for our consignors. Trucks and truck cranes sold
particularly well. With the local slowdown, awareness of our unreserved
auctions and demand for our services has increased in Spain. That's why we're
opening a second auction site in Spain, in Ocana. We're looking forward to
conducting our first auction there in July."
    There are 73 unreserved Ritchie Bros. auctions on the auction calendar at
www.rbauction.com, including the first auction at the Company's new auction
site in Ocana, Spain (July 3, 2009).

    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
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.





For further information:

For further information: Kim Schulz, Corporate Communications Manager,
Ritchie Bros. Auctioneers, Mobile: (604) 788-5379 or email:
kschulz@rbauction.com; Or Steve Barritt, Regional Manager, Ritchie Bros.
Auctioneers, Dubai auction site tel: +971.4.812.0600; Or Steve Merich,
Regional Manager, Ritchie Bros. Auctioneers, Denver auction site tel: (970)
535-6700; Or Jeroen Rijk, Divisional Manager, Ritchie Bros. Auctioneers,
Moncofa auction site tel: +34.964.580.559


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