SACRAMENTO, CA, Aug. 7 /CNW/ - A large selection of late model heavy
equipment attracted almost 1,400 online and on-site bidders from 26 countries,
including 37 U.S. states, to an unreserved public auction in California
yesterday, helping deliver strong returns for sellers. The US$22 million
auction was conducted by Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the
world's largest industrial auctioneer, at its permanent auction site in
Sacramento on August 6, 2008. Almost 900 people registered to bid at the
auction in person, including bidders from as far away as Australia and Japan.
Another 500 people registered to bid online, live and in real time, using the
Ritchie Bros. internet bidding service rbauctionBid-Live. Internet bidders
purchased US$4.8 million of trucks and equipment.
"We had an exceptional lineup of equipment in this auction and it drew a
lot of attention from our worldwide customer base," said Mike Johnston,
Ritchie Bros. Regional Manager. "The large selection of high quality
equipment, our commitment to fair and transparent auctions, and the choice of
convenient on-site or online bidding options brought in interested buyers from
across the States and around the world. We had very active participation from
bidders on-site and online, which resulted in strong returns for our
consignors. Our unreserved public auctions create a win-win situation for both
buyers and sellers of equipment."
A longstanding Ritchie Bros. customer, Dante Ghilotti sold close to
US$1.5 million of equipment and purchased another US$2 million worth in the
Sacramento auction as part of an overall fleet upgrade.
"I've been in this business for over 20 years, and I can always rely on
Ritchie Bros.," said Mr. Ghilotti. "They provide extremely consistent service
and do everything they can for their customers. You're treated the same,
whether you're selling a big package of iron or buying just one or two pieces.
I paid a fair price for the machines I bought, and I'm very happy with the
prices I got on the equipment I sold. Ritchie Bros. gives us access to buyers
from all over the world, people we'd never reach otherwise. The number of
foreign buyers at the auction helped keep the prices strong on the equipment
that isn't in so much demand locally."
More than 200 consignors sold close to 1,000 items for the construction,
transportation and other industries in yesterday's auction. Among the
highlights: a large selection of late model equipment from Arizona-based
Schwab Sales LLC. Ritchie Bros. is conducting a complete dispersal for Schwab,
with hundreds of motor scrapers, wheel loaders, hydraulic excavators, motor
graders, articulated dump trucks and other equipment items being sold in this
and three upcoming auctions in Las Vegas, NV (on August 15, 2008), Phoenix, AZ
(August 21 & 22) and Salt Lake City, UT (August 26). For more information, go
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, Office: (604) 304-3830 or email:
email@example.com; Or Mike Johnston, Regional Manager, Ritchie Bros.
Auctioneers, Sacramento Auction Site, Tel: (530) 724-3900