Thousands of equipment items sold in $29 million unreserved Ritchie Bros. Dubai auction



    
    More than one third of equipment sold to buyers outside United Arab
    Emirates
    

    DUBAI, UAE, Aug. 17 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX:
RBA), the world's largest industrial auctioneer, conducted a three-day
unreserved auction in Dubai, UAE from August 10-12, 2009, generating gross
auction proceeds in excess of US$29 million. More than 440 on-site and online
bidders from 48 countries participated in the auction, which featured more
than 2,100 equipment items and trucks. Highlights of the auction included a
large selection of 2009 unused Komatsu equipment, including a PC400 excavator
and several WA470 wheel loaders, which sold for US$230,000 each.
    "This successful August sale built on momentum from our record breaking
sale in June. It is gratifying to know we've surpassed US$100 million in gross
auction proceeds in Dubai for the first three quarters of the year - the first
time we've achieved this since we started conducting auctions in Dubai," said
Steve Barritt, Regional Manager, Ritchie Bros. Auctioneers.
    Buyers from as far away as Canada, Australia, the United States and the
United Kingdom purchased in excess of US$12 million of equipment and trucks
(41 per cent of gross auction proceeds).
    Ritchie Bros. has 58 unreserved auctions on its upcoming auction calendar
at www.rbauction.com, including the next public auction at its permanent
auction site in Dubai (December 14 - 16, 2009) and the Company's first auction
in Hyderabad, India on September 25, 2009.

    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.

    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 39 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.





For further information:

For further information: Kim Schulz, Manager, Corporate Communications,
Ritchie Bros. Auctioneers, Cell: (604) 788-5379 or email
kschulz@rbauction.com; Or Steve Barritt, Regional Manager, Ritchie Bros.
Auctioneers, Dubai auction site, tel: +971.4.812.0600


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