VANCOUVER, Sept. 22 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA)
attracted thousands of on-site and online bidders to eight multi-million
dollar unreserved public auctions in four different countries last week -
including the largest Spain auction in Company history. Ritchie Bros.
(www.rbauction.com), the world's largest industrial auctioneer, also launched
the world's first heavy equipment-specific wiki today at www.RitchieWiki.com.
Highlights of Ritchie Bros.' busy week included the following unreserved
public auctions at the Company's auction sites:
- a (euro)23 million (US$33 million) auction in Moncofa, Spain (on
September 18 & 19) - the largest Spain auction in Company history;
- a US$31 million auction in Atlanta, Georgia (September 18 & 19);
- a US$28 million auction in Chicago, Illinois (September 17 & 18),
which set a new Chicago site record for internet sales;
- a US$24 million auction in Olympia, Washington (September 16 & 17,
2008), which set a new Olympia site record for internet sales; and
- an AU$22 million (US$18 million) auction in Brisbane, Australia
(September 16 & 17), as well as a record-breaking auction in
Melbourne (September 18).
"Ritchie Bros. has been at the forefront of innovation in the auction
business since it was founded in 1958," said Peter Blake, Ritchie Bros. CEO.
"We have a history of being able to take leading edge technologies and apply
them to enhance the services we provide to both bidders and consignors - like
supplementing our live auctions with internet bidding, which enables people to
bid in real time at auctions around the world when they can't make it to the
auction site in person. We're proud to be launching RitchieWiki today: the
world's first collaborative web site all about construction, transportation
and agricultural equipment, along with a related Equipment Specifications
tool. This will be an excellent free resource for our customers and equipment
users around the world."
Later today, Ritchie Bros. will host a news conference at the MINExpo
trade show in Las Vegas, Nevada to launch RitchieWiki. The Company-sponsored
equipment wiki - the first of its kind in the world - was made available to
the public this morning at www.RitchieWiki.com. For more information, visit
www.rbauction.com/media after 1:00 p.m. PDT today (September 22, 2008).
MONCOFA, SPAIN - Despite challenging local economic conditions, Ritchie
Bros. conducted the largest Spain auction in Company history last week,
selling (euro)23 million (US$33 million) of equipment during a two-day
unreserved public auction at its Moncofa auction site (on September 18 & 19,
2008). The auction attracted almost 900 on-site and online bidders from 43
countries. Buyers from outside the country purchased almost (euro)15 million
(US$22 million) of equipment in the auction. The auction featured more than
2,100 items for the construction, transportation and other industries.
ATLANTA, GEORGIA - Buyers from outside the state of Georgia purchased
more than US$25 million of equipment (82 percent) from Ritchie Bros.' US$31
million auction in Atlanta, Georgia on September 18 & 19, 2008. More than US$7
million of equipment (24 percent) went to buyers from outside the United
States. The unreserved public auction attracted more than 1,300 on-site and
online bidders from 27 countries, including 45 U.S. states. Internet bidders
purchased more than US$7 million of trucks and heavy equipment.
Ritchie Bros. sold more than 1,700 lots for close to 140 consignors
during the two-day Atlanta auction. Prices were particularly strong on cranes
and large agricultural tractors. For example, a 1994 Link Belt hydraulic truck
crane sold for US$260,000 and two 2006 Challenger MT865B belted agricultural
tractors sold for US$200,000 each.
CHICAGO, ILLINOIS - Stock market uncertainty and storms across the U.S.
had little impact on pricing or bidder registrations at Ritchie Bros.' auction
in Chicago, Illinois on September 17 & 18, 2008. The unreserved public auction
set a new Chicago site record for internet sales, with internet bidders
purchasing US$7 million of equipment. The unreserved public auction generated
total gross auction proceeds of US$28 million and attracted more than 2,200
registered bidders from 28 countries, including 46 U.S. states.
Buyers from outside the state purchased more than US$20 million of
equipment at the auction, including more than US$4 million of equipment that
went to buyers from outside the United States. Among the equipment highlights:
16 late model Cat 627G motor scrapers that sold to online and on-site bidders
from Canada and the U.S. for prices ranging from US$305,000 to US$385,000.
OLYMPIA, WASHINGTON - Ritchie Bros. set a new Olympia site record for
internet sales last week, selling more than US$6 million of equipment to
online bidders at an unreserved public auction at its Olympia, Washington site
on September 16 & 17, 2008. The auction generated total gross auction proceeds
of US$24 million and attracted more than 2,200 registered bidders from 18
countries, including 37 U.S. states. Buyers from outside the state purchased
more than US$15 million (60 percent) of equipment.
BRISBANE, AUSTRALIA - Almost 900 on-site and online bidders from 14
countries registered to bid on hundreds of earthmoving and transportation
equipment items in Ritchie Bros.' most recent Brisbane, Australia auction (on
September 16 & 17, 2008). The auction generated total gross auction proceeds
of AU$22 million (US$18 million) and featured a large selection of unused and
late model earthmoving equipment, including a 2008 Komatsu D155AX-6 crawler
tractor that sold for AU$625,000 (US$502,000), two 2006 Caterpillar D8T
crawler tractors that sold for AU$585,000 (US470,000) and AU$575,000
(US$462,000), and two 2007 Doosan hydraulic excavators that sold for
AU$270,000 (US$217,000) each. Ritchie Bros. also conducted the largest
Melbourne auction in Company history last week, selling AU$18 million (US$15
million) of equipment during its September 18th auction.
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 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:
firstname.lastname@example.org; Or Jeroen Rijk, Divisional Manager, Ritchie Bros.
Auctioneers, Moncofa auction site, tel: +34.964.580.559; Or Darrin Hogeboom,
Regional Manager, Ritchie Bros. Auctioneers, Atlanta auction site, tel: (770)
304-3355; Or Rich Evans, Regional Manager, Ritchie Bros. Auctioneers, Chicago
auction site, tel: (815) 941-6400; Or Rob Giroux, Regional Manager, Ritchie
Bros. Auctioneers, Olympia auction site, tel: (360) 956-1500; Or Simon Ross,
Regional Manager, Ritchie Bros. Auctioneers, Brisbane auction site, tel: