VANCOUVER, June 25 /CNW/ - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE: RBA),
the world's largest auctioneer of trucks and industrial equipment, conducted
more than a dozen unreserved industrial and agricultural auctions in North
America, Mexico, Australia and Europe over the past week. The two largest were
a US$26 million auction in North East, Maryland and a CA$27 million
(US$25 million) auction in Grande Prairie, Alberta, both conducted on June
North East, Maryland (June 20-21, 2007)
Interested buyers from across North America and around the world
participated in the unreserved auction conducted by Ritchie Bros. Auctioneers
in North East, Maryland last week. Close to 3,100 trucks and other industrial
equipment items were sold in the US$26 million auction, including 38 truck
tractors; over 200 forklifts, scissorlifts and boom lifts; 23 articulated dump
trucks; 77 hydraulic excavators; 89 skid steer loaders; 39 trenchers; 45
crawler tractors; 33 crawler loaders; 50 wheel loaders; and 71 loader
Almost 2,000 registered bidders from 27 countries, 45 U.S. states and all
10 Canadian provinces participated in the auction-close to one-third of them
using the Company's real time internet bidding service, rbauctionBid-Live.
Nearly 350 items, representing over US$7 million worth of gross auction sales,
were sold online. Internet bidders from as far away as the United Kingdom,
Mexico and the United Arab Emirates purchased equipment in the auction.
"Although it will never replace attending an auction in person, the
internet plays an important role in our sales; it gives our consignors a wider
audience for their assets and interested buyers better access to the specific
equipment they need," said Steve Kriebel, Ritchie Bros. Regional Manager. "Our
ability to bring in serious buyers from across the country and around the
world helps our customers achieve global market value for their surplus
equipment, which is especially important when local economic conditions are
negatively impacting industry."
Chantilly, Virginia-based excavation contractors J.H. Becker Company
consigned more than 30 industrial equipment items in the North East auction,
including a number of late-model articulated dump trucks, wheel loaders and
crawler loaders. Jeff Becker, the owner of J.H. Becker, has never before
bought or sold equipment at a Ritchie Bros. auction.
"Ritchie Bros. made the experience effortless. It's a soft market right
now, and that affects the prices I can get for my equipment locally," said Mr.
Becker. "I got a much better result by selling my iron through Ritchie Bros.
and reaching the international market. Ritchie Bros. is best prepared to
market equipment in adverse local conditions. I'll sell with them again, and
I'll be buying equipment at one of their upcoming auctions."
Grande Prairie, Alberta (June 20-21, 2007)
Over 2,530 equipment items from more than 430 consignors were sold in
last week's unreserved Ritchie Bros. auction in Grande Prairie, Alberta. The
auction generated gross auction sales of more than CA$27 million
(US$25 million). Over 2,600 registered bidders from 14 countries participated
in the auction, almost 520 of them using the Company's online bidding service,
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: Ritchie Bros. Auctioneers, Kim Schulz,
Corporate Communications Manager, 1-800-663-8457, Email:
firstname.lastname@example.org, Website: www.rbauction.com