VANCOUVER, June 23 /CNW/ - Last week, Ritchie Bros. Auctioneers (NYSE and
TSX: RBA) helped hundreds of equipment, truck and real estate consignors
overcome challenging market conditions by attracting large numbers of
out-of-region bidders to its unreserved public auctions around the world.
Ritchie Bros., the world's largest industrial auctioneer, conducted 13
auctions in four countries during the week, including a (euro)24 million
(US$38 million) auction in Moerdijk, the Netherlands (on June 18, 19 & 20,
2008); a CA$30 million (US$29 million) auction in Grande Prairie, Alberta,
Canada (on June 18 & 19); a US$26 million auction in Phoenix, Arizona, USA (on
June 19 & 20); and a US$20 million auction in Chicago, Illinois, USA (on June
19 & 20). At all 13 auctions, interested buyers had the choice of bidding in
person, by proxy or over the internet.
"Regional market conditions can have an enormous impact on used equipment
values," said Peter Blake, Ritchie Bros. CEO. "Whether it's the dwindling
forestry industry in Canada, the slow housing construction market in the U.S.
or the summer holiday season in Europe, local conditions can make it difficult
for people to realize good returns when selling their valuable assets. That's
why an increasing number of truck and equipment sellers are turning to Ritchie
Bros. We undertake extensive international marketing campaigns and
consistently attract bidders from out-of-region and around the world to our
auctions, both in person and over the internet. As we saw at our auctions last
week, this type of international participation helps support pricing,
regardless of the local market conditions."
Interested buyers from 54 countries in Europe, North America, the Middle
East, Africa and the South Pacific registered to bid in the (euro)24 million
Moerdijk auction on June 18, 19 & 20. Almost 2,500 truck and equipment items -
from skid steer loaders to wheel loaders - were sold over three days.
Out-of-country buyers purchased more than 1,600 items, representing (euro)19
million (US$30 million) of the total gross auction proceeds.
The CA$30 million (US$29 million) Grande Prairie auction on June 18 & 19
featured almost 2,600 equipment items for the construction, transportation,
agricultural, forestry and other industries, as well as a five-acre industrial
property. The unreserved public auction attracted almost 2,700 bidders from 15
countries - including buyers from as far away as Australia and Egypt. Sylvain
Provost sold a large selection of logging equipment and trucks in the auction
as part of a complete dispersal for his Fort Nelson, B.C.-based company, PTR
"I've been buying equipment at Ritchie Bros. auctions for years, but this
was my first time selling," said Mr. Provost. "Ritchie Bros. is a great
organization. The auctions are fair and the sales people are very professional
and honest. We have a good relationship, so I felt comfortable selling through
them. When you're selling a lot of equipment, you've got to go with the best
in the business - and that's Ritchie Bros."
Bidders from out-of-state and around the world purchased almost
US$19 million of equipment at the June 19 & 20 unreserved Ritchie Bros.
auction in Phoenix, Arizona - close to 75 percent of the total amount sold
(US$26 million). Ritchie Bros. sold more than 1,600 heavy equipment items and
trucks over two days, attracting buyers from as far away as Australia and
South Africa. Bidders from Mexico bought more than US$3.7 million of
equipment. Wheel loaders and dozers achieved particularly strong prices, as
did three 2006 Mack concrete pump trucks - two of which were sold to a proxy
bidder from the United Arab Emirates. The internet helped bring many local and
out-of-region bidders to the auction, with US$8 million of equipment being
Ritchie Bros. sold almost 2,000 used and unused truck and equipment items
at its unreserved public auction in Chicago on June 19 & 20. The US$20 million
auction attracted more than 1,700 registered bidders from 24 countries,
including 44 U.S. states. More than 1,100 people registered to bid in person
at the auction site; the other 600 registered to bid online. Bidders from
outside of the local Illinois market represented almost half the total number
of bidders; they purchased two-thirds of the equipment in the auction
(accounting for more than US$13 million). Among the auction highlights: eight
2005 Caterpillar D8T crawler tractors - all of which sold to out-of-state
About Ritchie Bros.
Established in 1958, 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 assets, including
equipment, trucks and other assets utilized in the construction,
transportation, material handling, mining, forestry, petroleum, marine, real
estate, and agricultural industries. The Company maintains a web site at
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:
email@example.com; Or Brian Podruzny, Regional Manager, Ritchie Bros.
Auctioneers - Grande Prairie auction site tel: (780) 538-1100; Or Ralf
Harders, Regional Manager, Ritchie Bros. Auctioneers - Moerdijk auction site
tel: +31-168-39-22-00; Or Chris Holmberg, Area Manager, Ritchie Bros.
Auctioneers - Phoenix auction site tel: (602) 269-5631; Or Rich Evans,
Regional Manager, Ritchie Bros. Auctioneers - Chicago auction site tel: (815)