Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. Auctioneers Incorporated

May 12, 2006 07:00 ET

Ritchie Bros. Auctioneers Holds Large Texas Auction

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 12, 2006) - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA), the world's largest industrial auctioneer, today announced that it held a large unreserved auction at its permanent Fort Worth, Texas facility on May 9 and 10, 2006, with gross auction sales in excess of US$39 million.

"It was a great auction," said David Hobbs, Ritchie Bros. Division Manager. "There were strong prices on both days of the auction, but especially on our truck day. The truck tractors, in particular, sold quite high. We also sold a condominium located at the Texas Motor Speedway that attracted quite a bit of interest. It sold for $340,000 within a few minutes. The original owner of the condo, Ed Banser, was quite pleased with the results."

More than 2,400 registered bidders from 38 countries, 44 U.S. states and seven Canadian provinces registered to bid on over 3,000 trucks, equipment items, and real estate at the two-day auction. Sixty-two percent of sales went to buyers located outside the state of Texas.

Over 730 internet bidders, using the Company's real-time bidding service, rbauctionBid-Live, purchased over US$7 million worth of truck and equipment items. The internet participants were buyers or runner-up bidders on 25% of the lots available for online bidding.

There are currently over 22,000 truck and equipment items featured in more than 35 unreserved industrial auctions and 20 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.

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