Company sets new site record for number of bidders
DUBAI, Dec. 17 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA),
the world's largest industrial auctioneer, conducted a US$41 million
three-day unreserved public equipment auction at its auction site in
Dubai, UAE on December 13 - 15, 2010. The auction attracted more than
770 registered bidders from more than 55 countries - a new site record.
Bidders participated both in person at the auction site and online in
real time at www.rbauction.com. Out-of-country buyers purchased approximately 50 percent of the
The three-day Dubai auction featured more than 1,600 used and unused
equipment items, including 55+ hydraulic excavators, 55+ wheel loaders,
25+ articulated dump trucks, 30+ crawler tractors, 25 cranes, 25+ rock
trucks, 20+ pipelayers, 35 truck tractors, rollers, asphalt pavers,
trenchers, lifts, motor graders, generators sets and many other
equipment items and trucks used in the construction, mining and
transportation industries. As with every Ritchie Bros. auction, all
items were sold without minimum bids or reserve prices.
"We ended 2010 on a high note with our fifth and final Dubai auction of
the year," said Guylain Turgeon, Ritchie Bros. Auctioneers Managing
Director, Europe, Middle East and Africa. "We welcomed a record number
of bidders to the auction, and saw active bidding both online and
on-site for the equipment items being sold. The competitive bidding,
particularly among bidders here on-site, helped raise the selling
prices to high levels for our consigning customers. Among the bidders
were several contractors getting geared up for projects related to the
World Cup 2022 in Qatar."
Most of the equipment was sold in the live auction: registered bidders
could bid in person at the auction site, online in real time at rbauction.com, or by proxy. For the first time at the Ritchie Bros. Dubai auction
site, smaller items, such as attachments and consumer goods, were sold
in an online Timed Auction. Bids were placed on the Timed Auction lots
online at rbauction.com, through internet kiosks at the auction site, or by proxy.
Strong auctions in 2010
"Looking back on 2010, it has been a strong year for our auctions," said
Mr. Turgeon. "We've taken many steps forward to make it easier and more
efficient for people to exchange assets through our auctions. In Europe
and the Middle East regions we've grown from 28 auctions last year, to
37 auctions this year. Every quarter in 2010, we've seen the overall
equipment prices steadily increase. In 2011, Ritchie Bros. will
continue to make used and unused equipment available in its transparent
and unreserved auction environment to on-site and online bidders."
There are currently over 70 unreserved auctions on the Ritchie Bros.
auction calendar at www.rbauction.com.
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. Ritchie
Bros. offers services that enable the world's builders to easily and
confidently exchange equipment. The Company conducts hundreds of
unreserved public auctions each year, selling a broad range of used and
unused equipment, trucks and other assets utilized in the construction,
transportation, agricultural, material handling, mining, forestry,
petroleum and marine industries. Ritchie Bros. has over 110 locations
in more than 25 countries, including 43 auction sites worldwide. 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:
Vicki Cunningham, Corporate Communications Specialist, Ritchie Bros. Auctioneers
Tel: +1.778.331.5464 or email firstname.lastname@example.org
Alexander Ypeij, Communications Specialist Europe, Ritchie Bros. Auctioneers
Tel: +31.765.242.600 or email: email@example.com
Guylain Turgeon, Managing Director EMEA, Ritchie Bros. Auctioneers