Ritchie Bros. creates global marketplace for equipment buyers and sellers at multi-million dollar Los Angeles and Moerdijk auctions

    VANCOUVER, March 3 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA),
the world's largest auctioneer of industrial equipment, attracted bidders from
around the world to its unreserved public auctions in Los Angeles, California
and Moerdijk, the Netherlands last week. The two-day event at the Company's
permanent auction site in Los Angeles on February 26 & 27, 2008 generated
gross auction proceeds in excess of US$24 million and attracted bidders from
25 countries. The three-day auction held February 27-29, 2008 at the Company's
permanent auction site in Moerdijk generated more than (euro)32 million
(US$49 million) in gross auction proceeds and attracted bidders from 58

    LOS ANGELES, CALIFORNIA - More than 2,500 people from 25 countries,
including 40 U.S. states and 12 Canadian provinces and territories, registered
to bid at the unreserved Ritchie Bros. auction in Perris (Los Angeles),
California on February 26 & 27, 2008. The unreserved public auction featured
more than 2,100 lots - including industrial and transportation equipment,
heavy machinery, and real estate - and generated gross auction proceeds in
excess of US$24 million. More than US$12 million of equipment went to
out-of-state buyers. Over 730 of the registered bidders participated online,
live and in real time, using the Ritchie Bros. internet bidding service
rbauctionBid-Live. Internet bidders were winner or runner-up bidder on almost
one-third of the lots available online.
    "Once again we noticed that the new CARB regulations covering off-road
diesel equipment are influencing the buying and selling decisions of people in
the California construction industry," said Richard Aldersley, Ritchie Bros.
Regional Manager. "Equipment users are accelerating the turnover of their
fleets and our large unreserved auctions help them do so cost-effectively.
Since interested buyers from around the world participate in our auctions both
on site and online, sellers can be confident that their equipment will be sold
for global fair market value, regardless of what's happening locally."
    El Cajon, California-based Cass Construction Inc. was one of almost
430 consignors at the auction. The company sold more than 100 industrial and
transportation equipment items as part of a major fleet realignment.
    "Due to the California Air Resources Board regulations that are coming
into play over the next couple of years, we need to replace some of our older
machines with new equipment to reduce our average fleet emissions," said
Stephen Johnson, Equipment Manager for Cass Construction. "I've used Ritchie
Bros. for over 30 years because I like the way they do business: their
honesty, integrity, professionalism, and the exposure they generate for your
equipment. Ritchie Bros. brings in buyers from all over the world, which is
very important with these new regulations impacting equipment values in

    MOERDIJK, THE NETHERLANDS - Almost 1,000 people from 58 countries
registered to bid on more than 3,600 industrial and transportation equipment
items that were sold at the unreserved Ritchie Bros. auction in Moerdijk, the
Netherlands on February 27 - 29, 2008. The unreserved public auction generated
gross auction proceeds in excess of (euro)32 million (US$49 million), more
than (euro)27 million (US$41 million) of which came from out-of-country
buyers, including many from Eastern Europe. Buyers from Romania purchased more
than (euro)4.3 million (US$6.6 million) of equipment, while buyers from Poland
purchased more than (euro)2.7 million (US$4.2 million) worth.
    "We are seeing an increasing number of consignors and bidders from
Eastern Europe at our Moerdijk auctions," said Ralf Harders, Ritchie Bros.
Regional Manager. "Our unreserved public auctions create a fast, efficient and
transparent global marketplace for buyers and sellers of equipment. There is
nothing like a Ritchie Bros. auction in Eastern Europe, but the need and
demand for our services is increasingly apparent. We have established offices
in a number of Eastern European countries and hope to begin conducting
auctions there in the future."
    Among the equipment sold to buyers from Eastern Europe: crawler tractors,
hydraulic excavators, wheel loaders, vibratory rollers, skid steer loaders,
lifting equipment and more.

    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, Cel: (604) 788-5379 or 1-800-663-8457 or email:
kschulz@rbauction.com; Or Richard Aldersley, Regional Manager, Ritchie Bros.
Auctioneers, Los Angeles auction site, tel: (951) 940-9441; Or Ralf Harders,
Regional Manager, Ritchie Bros. Auctioneers, Moerdijk auction site, tel:

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