Over US$30 million worth of equipment sold to buyers from across
North America and around the world
ATLANTA, June 29 /CNW/ - Buyers from around the world helped set global
market prices at a record-breaking US$30 million unreserved industrial auction
in Atlanta, Georgia this week. The unreserved public auction was conducted by
Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest auctioneer
of trucks and industrial equipment, at the Company's permanent auction site in
Atlanta on June 27-28, 2007. More than 2,300 items from close to 190
consignors were sold at the two-day auction, resulting in gross auction sales
of US$30 million - the Company's highest-grossing Atlanta auction since it
starting conducting auctions in the area in 1986.
The unreserved auction attracted registered bidders from 38 countries, 45
U.S. states, and nine Canadian provinces. Of the more than 1,600 registered
bidders, close to 700 participated in the auction over the internet, live and
in real time, using the Company's online bidding service, rbauctionBid-Live.
More than US$9 million worth of trucks and other industrial assets were
purchased using the service, setting new company records for online bidders,
online buyers and online gross auction sales for that site.
"The broad selection of equipment in our auctions and fair bidding
process attract interested buyers from all over the world, both online and in
person," said Darrin Hogeboom, Ritchie Bros. Area Manager. "We had a large
selection of high quality, late model equipment available in this auction, and
it created a lot of interest. The local market has softened for some equipment
categories, but we were able to achieve strong results by appealing to a wide
audience of international buyers. The over-the-road trucks did particularly
Internet bidders from across North America and as far away as the United
Arab Emirates and Poland purchased equipment in the auction. Despite the ease
and convenience of rbauctionBid-Live, many interested buyers continue to
prefer the experience of attending an auction in person and bidding onsite.
Many international buyers attended this week's Atlanta auction to bid in
person, including a Belgian customer who purchased over 40 truck tractors; a
Dominican buyer who bought several motor graders; and an Australian who
traveled over 8,000 miles to the Atlanta auction and purchased several
equipment items, including a 2006 John Deere wheel loader.
County Engineer Robert English of Monroe County (Alabama) consigned a
number of late model construction equipment items in the auction, including
five 2005 Cat motor graders, a pair of 2006 Cat wheel loaders, a 2006 Cat
loader backhoe, a 2006 Komatsu hydraulic excavator, and two 2006 crawler
"We received excellent service from Ritchie Bros.," said Mr. English.
"They were very accommodating and worked within our timeframes. The
international bidding audience helped us achieve excellent values for our
equipment. I was very pleased with the results of the auction."
More than 11,050 items will be sold in 30 industrial and 13 agricultural
unreserved auctions coming up on the Ritchie Bros. calendar. Details on all
upcoming Ritchie Bros. auctions are available on www.rbauction.com.
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 www.rbauction.com.
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: 1-800-663-8457 or email:
email@example.com; Or Darrin Hogeboom, Area Manager, Ritchie Bros.
Auctioneers, Sale Site, Tel: (770) 304-3355