Internet bidders set records at CA$58 million Ritchie Bros. auction in Edmonton

    EDMONTON, Dec. 17 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA)
sold over 3,000 lots during a two-day unreserved public auction in Edmonton,
Alberta last week, generating gross auction proceeds of CA$58 million (US$57
million) - and setting new site records for online bidding and buying. The
auction attracted over 3,800 registered bidders from 20 countries, including
34 U.S. states and 12 Canadian provinces and territories -including a record
1,000 people who registered to bid online, live and in real time, using the
Ritchie Bros. internet bidding service rbauctionBid-Live. Almost CA$13 million
(US$12 million) of equipment and other assets were sold to online bidders -
another new Edmonton site record. Ritchie Bros., the world's largest
industrial auctioneer, conducted the auction at its permanent auction site in
Nisku (Edmonton), Alberta on December 13 & 14, 2007.
    "This was our largest December auction in Edmonton, and the number of
active bidders on site and online helped us deliver strong returns for our
consignors - despite the lull in the local market," said Brian Glenn, Ritchie
Bros. Regional Manager. "Our internet bidding service benefits interested
buyers who can't make it to our site on auction day, but it also benefits
sellers, increasing the audience of potential buyers for their assets."
    The auction featured a large selection of late-model earthmoving and
oilfield transportation equipment, as well as more than 60 recreational,
industrial and commercial properties in Alberta and Saskatchewan. Pioneer
Truck Lines Ltd. and Pro Pipe Oilfield Services were among the almost 400
consignors at the auction. Pioneer, an Edmonton-based oilfield transportation
service company, is winding down its rig moving division. The company sold two
heavy industrial properties in Coronation, Alberta and almost 60 equipment
items in the auction.
    "Selling at an unreserved auction is a great way to sell everything in
one or two days," said Pioneer's Dale Dubinsky. "Ritchie Bros. did a really
good job from start to finish. Their appraisals were right on the money, they
took care of all the details of the sale, and their auctioneers worked hard to
sell the equipment. I was impressed with the whole process. I'm happy with the
    Close to 100 items were sold as part of a complete dispersal for Pro Pipe
Oilfield Services of Erskine, Alberta.
    "Ritchie Bros. runs a good operation: they are very professional and
fair," said Pro Pipe owner Sherwin Flanders. "I have been to other companies'
auctions where the owners were bidding up their equipment, and I don't like
that. Selling unreserved doesn't concern me in the least. Ritchie Bros. took
care of all the details and everything was sold by the end of the auction - so
I could relax. The prices we got were also a bit higher than we expected."
    Ritchie Bros. is proud to be a Driller Sponsor of the 2008 Alberta Winter
Games, taking place February 14-17, 2008 in Leduc, Alberta. Ritchie Bros. has
been conducting auctions in Leduc County for more than 30 years.

    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, Tel: (604) 304-3830 or 1-800-663-8457 or email; Or Brian Glenn, Regional Manager - Prairie Division,
Ritchie Bros. Auctioneers, Edmonton sale site tel: (780) 955-2486

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890