Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. Auctioneers Incorporated

May 25, 2006 07:00 ET

Ritchie Bros. Auctioneers Completes Successful Two-day Florida Sale

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 25, 2006) - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA), the world's largest industrial auctioneer, today announced the results of a two-day auction held at its permanent auction site in Orlando, Florida. This unreserved public auction, which sold over 2,200 items, generated gross auction sales in excess of US$39 million.

"We were pleased with the results of this sale," said Gary Seybold, Ritchie Bros. Florida Regional Manager. "It was our largest May sale ever at the Orlando location and was substantially larger than our May sale last year, which grossed $27 million." Over 1,500 registered bidders from all 50 states, 10 Canadian provinces and 43 countries - including the Netherlands, Saudi Arabia and Australia - participated in the May 23 and 24, 2006 auction.

According to Seybold, a wide range of equipment sold in both rings during the two-day sale, including articulated dump trucks, crawler tractors, hydraulic excavators, wheel loaders, generator sets and an extensive selection of both truck tractors and trailers.

Seybold went on to note, "People at the sale were impressed with the quantity and quality of equipment. We had a lot of buyers from Central and South America - bidding online and in person - which once again goes to show that our sales attract buyers from all over the world."

More than 580 internet bidders, using the Company's rbauctionBid-Live real-time bidding service, purchased over US$8 million worth of trucks and equipment items at the two-day sale. Internet participants were buyers or runner-up bidders on 25% of the lots available for online bidding.

There are over 26,000 truck and equipment items featured in 39 unreserved industrial auctions and 27 unreserved agricultural auctions in the upcoming Ritchie Bros. auction calendar. Details on all upcoming Ritchie Bros. auctions, including equipment that will be sold, 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 equipment including equipment 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.

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