NORTH EAST, MARYLAND, Oct. 5 /CNW/ - More than 20 cranes were featured at
the US$20 million unreserved public auction conducted by Ritchie Bros.
Auctioneers (NYSE and TSX: RBA), the world's largest industrial auction
company, at its permanent auction site in North East, Maryland on October 3 &
4, 2007. In total, over 2,200 construction, transportation and other
industrial equipment items were sold during the large two-day auction. More
than 1,600 lots - representing over US$16 million or 84 per cent of the total
gross auction proceeds - were sold to out-of-state buyers.
The unreserved auction attracted more than 2,000 registered bidders from
36 countries, including all 50 U.S. states and nine Canadian provinces. Close
to 600 people registered to bid over the internet, live and in real time,
using the Company's online bidding service, rbauctionBid-Live. More than US$4
million of equipment was sold to online bidders from all over the world.
"The crane market continues to be hot, with global demand still exceeding
supply," said Steve Kriebel, Ritchie Bros. Regional Manager. "The large
selection of cranes in this auction attracted interest from all over North
America, and even internationally. One highlight was a 1999 Link-Belt crawler
crane, which sold for US$485,000."
Among the other equipment sold in the North East auction: 60 dump trucks;
60 hydraulic excavators; close to 40 wheel loaders; almost 40 crawler
tractors; over 70 forklifts; 50 skid steer loaders; over 40 loader backhoes;
and almost 60 truck tractors. The equipment was sold on behalf of more than
350 consignors, including Amquip, Henkels & McCoy, Infrasource, KW1, Lafarge,
NPL Construction Co., Ryan Contracting, and Sunbelt Rentals.
"When you see internet bids coming in from all over the world, and
hundreds of onsite bidders who've traveled long distances to bid in person,
you realize that we really do create a global marketplace for our customers,"
said Mr. Kriebel. "We attracted hundreds of interested buyers to Maryland,
both on site and online, helping our local consignors achieve global market
value for their surplus assets. And we helped hundreds of people find the
right equipment for their needs, without limiting their search to the local
There are 47 unreserved industrial and 24 unreserved agricultural
auctions on the upcoming 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: Vicki Cunningham, Corporate Communications
Specialist, Ritchie Bros. Auctioneers, Tel: 1-800-663-8457 or Cell: (604)
329-7663 or Email email@example.com Or Steve Kriebel, Regional
Manager, Ritchie Bros. Auctioneers, North East auction site tel: (410)