LOS ANGELES, May 26 /CNW/ - More than 2,700 people from 31 countries
registered to bid on more than US$23 million of trucks and heavy equipment
sold at an unreserved public auction conducted by Ritchie Bros. Auctioneers
(NYSE and TSX: RBA) in Los Angeles, California last week. Bidders from outside
the state spent almost US$13 million at the auction (54 percent of the total
gross auction proceeds), with equipment going to buyers from as far away as
Australia, Japan and Saudi Arabia.
More than 1,800 people registered to bid in person at the auction site;
the other 900 registered to bid online in real time. Internet bidders
purchased more than US$8 million of equipment and trucks (36 percent). Ritchie
Bros. (www.rbauction.com), the world's largest industrial auctioneer, sold
almost 2,900 items from close to 400 consignors over three days at its
permanent auction site in Perris (Los Angeles) on May 20 - 22, 2009.
"Thanks to the participation of thousands of bidders from all over North
America and overseas, equipment and truck pricing was quite strong at our
recent L.A. auction," said Richard Aldersley, Ritchie Bros. Divisional
Manager. "The best way to maximize the return on your equipment assets is to
reach as many potential buyers from as many regions and industries as possible
- especially during an economic downturn, when used equipment pricing tends to
soften. Equipment sellers choose Ritchie Bros. because they know our worldwide
marketing and fair, unreserved auction methods attract large international
bidding audiences, and because they know their surplus assets will be sold for
the best possible returns on auction day."
There are 85 unreserved Ritchie Bros. auctions on the auction calendar at
www.rbauction.com, including three auctions in California: in Bakersfield
(June 23), Sacramento (July 21 - 22) and Los Angeles (July 28 - 29).
About Ritchie Bros.
Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the
world's largest industrial auctioneer, selling more equipment to on-site and
online bidders than any other company in the world. The Company has over 110
locations in more than 25 countries including 38 auction sites worldwide.
Ritchie Bros. 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, agricultural, material handling,
mining, forestry, petroleum and marine industries. The Company maintains a web
site at www.rbauction.com and sponsors an equipment wiki 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 Mobile: (604) 788-5379 or
email: email@example.com; Or Richard Aldersley, Divisional Manager,
Ritchie Bros. Auctioneers, Los Angeles auction site, tel: (951) 940-9441