Ritchie Bros. moves Lower Mainland auction site to expanded location in
Chilliwack, B.C.

New 24-acre Chilliwack site replaces Surrey location; grand opening auction March 24

VANCOUVER, March 9 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer with head offices in Burnaby, B.C., will celebrate the Grand Opening of its new Chilliwack, B.C. permanent auction site with an unreserved public auction and ribbon-cutting ceremony on Wednesday, March 24, 2010. The new Chilliwack site, located approximately one hour east of Vancouver, B.C., will replace the Company's 30-year-old Surrey auction site.

The new, 24-acre (9.7-ha) Chilliwack auction site is approximately three times the size of the former Surrey site in order to service more bidders and consignors, and a larger selection of equipment.

"Our new Chilliwack site is a world-class auction facility that will attract people from around the world. It features a 28,000-square foot auction building with two auction theatres and capacity for more than 900 people," said Adam Pruss, Area Manager, Ritchie Bros. Auctioneers. "We have a great selection of equipment being sold on March 24th, with more items being added to the auction daily. Clearly consignors see the potential of our new site-it is conveniently located next to Highway 1 for easy equipment transportation, the new auction theatre is able to hold large crowds, the larger yard will display more equipment...it's a win-win for both buyers and sellers."

More than 1,450 equipment items are already listed to be sold in the March 24th auction, including hydraulic excavators, crawler tractors and a selection of crushing and transportation equipment, with more items added right up to sale day. Every item will be sold to the highest bidder on auction day, with no minimum bids or reserve prices.

Interested auction buyers can bid in person, online in real time at rbauction.com, or by proxy. This will be the first time Ritchie Bros. customers in the Lower Mainland will attend the auction and stay indoors the entire day - self-propelled equipment will be sold over the ramp in front of a seated bidding audience in the auction theater and stationary items will be sold by photo in the Virtual Ramp room.

Many smaller items, such as attachments and consumer goods, will be sold through a new online Timed Auction format. Bidding for these Timed Auction lots begins on Monday, March 22 and closes on Wednesday, March 24. Bids can be placed on the Timed Auction lots online at rbauction.com, and also through internet kiosks at the auction site or by proxy. For more information visit www.rbauction.com/timedauctions.

Equipment consignments are still being accepted; owners interested in selling their equipment in the March 24th auction can contact the Chilliwack auction site at +1.604.823.2700 to discuss their options.

    
    Chilliwack Grand Opening auction details:
    -----------------------------------------
    -  Location: Ritchie Bros. Auctioneers' new Chilliwack auction site at
       42275 Industrial Way, Chilliwack, B.C., V3V 3T2 (located approximately
       one hour east of Vancouver, B.C.)
    -  There is no customer parking available on site. Parking is available
       at Chilliwack Heritage Park (44140 Luckakuck Way, Chilliwack, B.C.).
       Shuttle service to and from the auction site is provided. There are a
       few media parking spots available upon request to Kim Schulz.
    -  Chilliwack auction site tel: +1.604.823.2700
    -  Time and date: Wednesday, March 24, 2010 at 8:00 a.m.
    -  Unreserved auction is open to the public; registration to bid is free
    -  Anyone can come to the auction site the week before auction day to
       inspect, test and compare items.
    -  Bids for the live auction can be made in person at the auction site,
       online in real time at rbauction.com or by proxy.
    -  Bids can be placed on the Timed Auction lots online at rbauction.com,
       through internet kiosks at the auction site or by proxy. For more
       information visit www.rbauction.com/timedauctions.
    -  More information, including equipment details and photos, is available
       at www.rbauction.com
    -  Ritchie Bros. will be holding a free How to Buy information seminar at
       the Chilliwack auction site on Tuesday, March 23, from 4 to 5 p.m. For
       more details, or to reserve your seat for the seminar, call the
       auction site at +1.604.823.2700.
    

ATTN MEDIA (Photos): Auction facility photos are available for you to download at www.rbauction.com/media.

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 40 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.

SOURCE Ritchie Bros. Auctioneers

For further information: For further information: Kim Schulz, Manager, Corporate Communications, Ritchie Bros. Auctioneers, Phone: (778) 331-5442 or email kschulz@rbauction.com Or Adam Pruss, Area Manager, Ritchie Bros. Auctioneers, Phone: (604) 823-2700 or email apruss@rbauction.com


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