Ritchie Bros. attracts international buyers and sellers to unreserved truck and equipment auction in Brisbane

    BRISBANE, Australia, March 20 /CNW/ - Ritchie Bros. Auctioneers (NYSE and
TSX: RBA), the world's largest auctioneer of industrial equipment, attracted
an international audience of bidders and sellers to its first Australian
auction of 2008. The unreserved public auction on March 18 at the Company's
permanent auction site in Yatala on Queensland's Gold Coast generated gross
auction proceeds in excess of AU$24 million (US$22 million) and attracted over
1,200 registered bidders from 17 countries, including every Australian state
and territory. Ritchie Bros. sold more than 1,000 used and unused
transportation, construction and other industrial equipment items at the
unreserved auction on behalf of almost 100 consignors from Australia, Japan,
China and the United States.
    "Once again we showed that attracting large numbers of interested buyers
from the local region and around the world helps us deliver strong returns for
our consignors," said Simon Ross, Ritchie Bros. Regional Manager. "We held an
excellent auction. The theatre was completely full and the crowd was bidding
actively all day. Prices were strong on both construction and transportation
equipment, with particularly good returns on the trailers in the sale."
    The auction featured a complete dispersal for Von Drehnen Transport. The
NSW-based heavy hauling business sold more than $1 million of equipment at the
auction, including prime movers (truck tractors), trailers and jeeps.
    "The auction was unbelievable; the prices we got were far higher than I
expected," said company owner Robert von Drehnen. "Everything was sold 100
percent unreserved, with no reserve prices. I had never sold equipment through
Ritchie Bros. before but I was always impressed by how professional their
operation was. I enjoyed dealing with them. Doing this dispersal through a
Ritchie Bros. auction was a good choice because I sold everything in one day.
At the end of the auction it was all gone, finished. I had closure. I would
recommend Ritchie Bros.' services to anybody."
    Among the other equipment sold at the unreserved public auction: crawler
tractors, wheel loaders, motor graders, motor scrapers and skid steer loaders.
Ritchie Bros. is conducting six other unreserved industrial auctions in three
countries this week, including a large auction at the Company's sale site in
Melbourne on March 20.

    About Ritchie Bros.

    Established in 1958, 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) 273-7564 or mob: (604)
788-5379 or email: kschulz@rbauction.com; Or Simon Ross, Regional Manager,
Ritchie Bros. Auctioneers, Gold Coast auction site, tel: +61.7.3382.4444

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