Earthmoving equipment attracts international bidders to unreserved CA$26 million dollar Ritchie Bros. auction in Toronto, Ontario

    TORONTO, Dec. 13 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA)
conducted one of the largest Toronto auctions in company history this week,
selling more than 2,500 lots over two days for total gross auction proceeds
exceeding CA$26 million (US$26 million). The unreserved public auction
featured complete dispersals for two major earthmoving companies, Caledon,
Ontario-based H. Davis Equipment Rental Ltd. and Hamilton, Ontario-based
D.V.C. Contracting, as well as trucks and industrial equipment from almost 400
other consignors. Over 2,900 people from 31 countries, including 37 U.S.
states and 12 Canadian provinces and territories, registered to bid in the
auction - including over 600 people who registered to bid online, live and in
real time, using the Ritchie Bros. internet bidding service rbauctionBid-Live.
Ritchie Bros., the world's largest industrial auctioneer, conducted the
auction at its permanent auction site in Bolton (Toronto), Ontario on December
11 & 12, 2007.
    "The auction was a great success," said Brian Dykstra, Ritchie Bros. Area
Manager. "We had more than two thousand people bidding onsite, plus hundreds
over the internet, and were able to deliver strong returns for our consignors.
H. Davis and D.V.C. Contracting have reputations for maintaining their
equipment well, and Ritchie Bros. was able to bring in the bidders from all
over the world, resulting in two good days of good prices."
    Ritchie Bros. sold a large selection of equipment on behalf of H. Davis
and D.V.C. Contracting, including crawler tractors, hydraulic excavators,
wheel loaders, articulated dump trucks, motor graders, motor scrapers and
    "The auction went really well. We're very happy," said Bob Davis, one of
the owners of H. Davis. "Our equipment got the prices we were hoping for or
above. It was sold to buyers from Austria, Colombia, all over North America;
equipment moves around the world so easily these days. If I was doing this
again, I would do it the same way. I would recommend Ritchie Bros. to anyone."
    "Ritchie Bros. did an excellent job," said David Van Camp, owner of
D.V.C. Contracting. "We were happy with the results, but selling everything
over two days was the biggest benefit of selling by unreserved auction.
Everything was settled quickly and easily. Ritchie Bros. were good people to
deal with, they treated us well, and I wouldn't hesitate in recommending
    This coming Friday, December 14, Ritchie Bros. will conduct an unreserved
agricultural equipment auction at Podolinsky Equipment Ltd., a John Deere
dealership in Petrolia, Ontario. Over 250 equipment items will be sold on
auction day, including late model MWFD and 2WD tractors, headers, balers,
mowers and seeding equipment.
    There are 27 unreserved industrial and 56 unreserved agricultural
auctions on the upcoming Ritchie Bros. auction calendar. Details on all
upcoming Ritchie Bros. auctions are available at

    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

    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: Kim Schulz, Corporate Communications Manager,
Ritchie Bros. Auctioneers, Head office, tel: (604) 304-3830, 1-800-663-8457,
or email; Or Brian Dykstra, Area Manager, Ritchie Bros.
Auctioneers, Toronto auction site, tel: (905) 857-2422

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