Cranes and a half-million-dollar lowboy the highlights of Ritchie Bros.
Houston and Moncofa, Spain auctions

    
    Busy auction week also includes first auction in Turkey and start of two
    new auction sites
    

VANCOUVER, Nov. 23 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, conducted seven unreserved public auctions in five countries last week, including a US$45 million auction in Houston, Texas (November 17 - 19, 2009); a 14 million Euro (US$21 million) auction in Moncofa, Spain (November 19 & 20); and successful auctions in Poland (November 17) and Istanbul (November 21) - the Company's first ever auction in Turkey. Ritchie Bros. (www.rbauction.com) sold more than 130 rough terrain, all terrain, hydraulic and other cranes in Houston and Moncofa, as well as a 315-ton lowboy, which sold in Houston for US$505,000: the most ever paid for a lowboy trailer at an unreserved Ritchie Bros. auction in North America.

HOUSTON, TEXAS - More than 3,160 people from 53 countries registered to bid in person or online in real time at the unreserved Ritchie Bros. auction in Houston on November 17 - 19, 2009. Ritchie Bros. sold more than 3,700 equipment items over three days, including more than 80 cranes and a US$505,000 lowboy, generating total gross auction proceeds in excess of US$45 million. Out-of-country bidders purchased more than US$14 million of equipment (31 percent). Online bidders purchased more than US$12 million of equipment (27 percent).

"We've had an incredible year in Houston and we finished strong," said Alan McVicker, Ritchie Bros. Regional Manager. "Everything about this auction was impressive: the amount of equipment, the number of bidders, the number of countries they came from, the solid prices. Our new Houston auction site has really put us on the map: we're close to the airport and the ocean port, so the international buyers love coming here, and we've got excellent highway frontage. Thanks to the high visibility of the new site we've also had a lot of first-time buyers and sellers this year, and they often comment on how professional, fair and well-run our auctions are."

MONCOFA, SPAIN - More than 950 people from 40 countries registered to bid in person or online at the unreserved public auction conducted by Ritchie Bros. in Moncofa, Spain on November 19 & 20, 2009. Ritchie Bros. sold almost 1,700 equipment items over two days, generating gross auction proceeds in excess of 14 million Euro (US$21 million). Out-of-country bidders purchased more than 6 million Euros of equipment (almost US$10 million, or 45 percent). Among the auction highlights: 50 cranes, including a 2009 Grove 220-ton all terrain crane that sold for 950,000 Euros (US$1.4 million).

"We had a successful auction in every respect: a great selection of quality equipment, lots of people at the auction site, active bidding over the internet and overall, good prices," said Jeroen Rijk, Ritchie Bros. Divisional Manager. "Buyers were happy because the bidding was fair and sellers were happy with the results. We've had consistently strong auctions over the past year, giving a lot of confidence to the market. Local sellers see the huge international crowd coming out auction after auction and they start to realize that this is normal for Ritchie Bros."

MEPPEN, GERMANY - Ritchie Bros. recently signed a long-term lease on approximately 16 hectares (41 acres) of land in Meppen, Germany, on which it intends to begin construction of a new auction site in December, with plans to complete construction by mid-2010. Meppen is located in northwest Germany, approximately 190 km (118 mi) northeast of Düsseldorf. Ritchie Bros. has been conducting unreserved public auctions in Meppen since 2004, most recently on November 19, 2009.

SALT LAKE CITY, UTAH - Ritchie Bros. recently signed a long-term lease on approximately 37 acres of land in Salt Lake City, Utah, on which it intends to begin construction of a new auction site immediately. Ritchie Bros. has been conducting unreserved public auctions in Salt Lake City since 1986, including three auctions in 2009.

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.

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.

SOURCE Ritchie Bros. Auctioneers

For further information: For further information: Kim Schulz, Manager, Corporate Communications, Ritchie Bros. Auctioneers, Mobile: (604) 788-5379; Or Alan McVicker, Regional Manager, Ritchie Bros. Auctioneers, Houston auction site tel: (713) 455-5200; Or Jeroen Rijk, Divisional Manager, Ritchie Bros. Auctioneers, Moncofa auction site tel: +34.964.580.559


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