VANCOUVER, Dec. 10 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA)
conducted 10 unreserved industrial and agricultural auctions in Canada, the
United States and Europe last week, including a record-breaking US$31 million
auction at the Company's permanent auction site in Sacramento, California (on
December 4 & 5, 2007) and a US$26 million auction at the Company's permanent
auction site in Fort Worth, Texas (on December 6 & 7).
SACRAMENTO, CALIFORNIA - Ritchie Bros. Auctioneers conducted the largest
Sacramento auction in company history on December 4 & 5, 2007, selling 2,000
trucks and other industrial equipment items for record gross auction proceeds
of US$31 million. The public auction also set new site records for total
number of bidders - almost 2,700 people from 30 countries - and number of
online bidders. Of the total number of bidders, more than 800 people
registered to bid online, live and in real time, using the Ritchie Bros.
internet bidding service, rbauctionBid-Live. More than 300 lots, representing
proceeds of US$8 million, were purchased by internet bidders.
"Local equipment owners once again benefited from our ability to attract
international and out-of-state bidders to Northern California," said Mike
Johnston, Ritchie Bros. Regional Manager. "We had a record number of bidders
at the auction, and almost a third of them were from outside California. By
attracting so many bidders, from so many regions, we were able to deliver good
returns for our consignors - despite the local economic slowdown."
Twelve Caterpillar 14H motor graders were sold in the auction - all of
them to out-of-state buyers, including an onsite bidder from Australia who
purchased three and an internet bidder from Saudi Arabia who purchased four.
Petaluma-based North Bay Construction Inc. is a family owned and
operated, full-service engineering contractor with operations across Northern
California. A Ritchie Bros. customer since 1987, North Bay sold a large
selection of equipment in the auction, including wheel loaders, motor
scrapers, hydraulic excavators and compactors.
"The great prices we get at the auctions keep us coming back," said John
Barella, president of North Bay Construction Inc. "We brought all of our
equipment that does not comply with California's new off-road diesel equipment
regulations to the auction and got significantly higher prices than we
anticipated. I think the number of out-of-state bidders had something to do
with that. I feel very comfortable selling unreserved. Selling through Ritchie
Bros. is the only way to go."
FORT WORTH, TEXAS - Ritchie Bros. finished another successful year of
unreserved auctions at its permanent Fort Worth, Texas site on December 6 & 7,
2007, selling more than 2,700 trucks and other industrial equipment items for
total gross auction proceeds of US$26 million. The unreserved public auction
attracted over 2,200 registered bidders from 41 countries, including 44 U.S.
states and nine Canadian provinces. More than 800 people registered to bid
over the internet using rbauctionBid-Live. Internet bidders purchased more
than 300 lots, and were runner-up bidder on almost 200 more.
"Overall, it was a strong sale, with very good returns on transportation
equipment," said David Hobbs, Ritchie Bros. Division Manager. "The highlight
was probably the sale of a 1992 Krupp 190-ton all-terrain crane for US$480,000
to an internet bidder from Saudi Arabia. The crane was consigned late, but we
advertised it on our web site, which receives thousands of unique visitors
every day, and through a direct email campaign to our customers - and the
results demonstrate that our marketing efforts were successful."
One of approximately 400 consignors at the auction was Austin Bridge &
Road, a division of Austin Industries and a leading producer of concrete
paving. The company has been building landmark structures in the southwestern
U. S. for nearly 100 years and operates asphalt plants in three Texas cities.
Austin Bridge & Road has sold millions of dollars of equipment at Ritchie
Bros. auctions over the past decade, including more than 60 items last week in
"I was really happy with the results of the auction; I received more for
my equipment than I thought I would," said Clay Jones, equipment manager with
Austin Bridge & Road. "I've dealt with a number of auction companies and
Ritchie Bros. is the cream of the crop. They have a good name in the industry,
and they attract a lot of buyers. The more people you have looking at your
equipment, the more you're going to get for it. I get good returns through
Ritchie Bros. auctions and I wouldn't sell my equipment any other way."
There are 21 unreserved industrial and 55 unreserved agricultural
auctions on the Ritchie Bros. auction calendar. 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 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 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: Kim Schulz, Corporate Communications Manager,
Ritchie Bros. Auctioneers, Tel: (604) 304-3830 or 1-800-663-8457 or email
email@example.com; Or Mike Johnston, Regional Manager - N. California & N.
Nevada, Ritchie Bros. Auctioneers, Sacramento Auction Site, Tel: (530)
724-3900; Or David Hobbs, Division Manager - South Central U.S., Ritchie Bros.
Auctioneers, Fort Worth Auction Site, Tel: (817) 237-6544