Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. Auctioneers Incorporated

April 12, 2007 00:24 ET

Media Advisory: Ritchie Bros. Auctioneers Holds Largest Canadian Unreserved Agricultural Auction

SASKATOON, SASKATCHEWAN--(CCNMatthews - April 12, 2007) - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA), the world's largest industrial and agricultural equipment auctioneer, held what it believes is Canada's largest-ever unreserved agricultural auction April 11th at its new permanent auction facility in Saskatoon, Saskatchewan. More than 3,000 registered bidders participated in the auction, with gross auction sales of more than CA$14 million.

"More than 5,000 people attended our Saskatoon auction, it was unbelievable," said Kevin Tink, Vice President of Ritchie Bros. Auctioneers western division. "There was a large volume of extremely high calibre agricultural equipment and with the strong demand, it made for a great auction. We had bidders participating in the auction from all over Canada and the United States, and from as far away as Italy, Germany, Australia, and the United Arab Emirates. Most of the equipment sold to buyers in Canada and the United States, with the majority of the equipment staying in Canada."

The Company's new 20-acre, state-of-the-art auction facility is one of 35 auction sites that Ritchie Bros. has around the world. More than 1,200 lots were sold on auction day - with the auction starting at 8am and ending at approximately 7pm.

More than 400 of the bidders registered to use the Company's real-time bidding service, rbauctionBid-Live, which allows people to participate in the auction live and in real-time over the internet. Buyers made online purchases of over CA$2 million and internet participants were buyer or runner-up bidder on 23 percent of the lots available to be sold online.

The Company sold equipment for Miller Farm Equipment, Agricenter Sales, Power Sports Regina/Bobcat of Regina, and other owners. Ritchie Bros. also conducted complete dispersals for Heritage Valley Farms Ltd. and Gagnon Farms Ltd., as well as sold real estate by unreserved auction for Albert Hannah, Ken & Marilyn Danielson, and Velvet Enterprises.

"We are really pleased to have this new permanent auction facility here in Saskatoon, with our customers being able to count on us to hold regularly scheduled auctions throughout the year," said Mr. Tink.

Ritchie Bros.' next unreserved agricultural auction in Saskatoon is being held July 9, 2007. The auction is open to the public, and anyone interested in buying or selling their equipment is asked to contact the Saskatoon office at: 306-933-9333.

Currently on the upcoming Ritchie Bros. auction calendar, there are 85 unreserved agricultural auctions and 41 unreserved industrial auctions. 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 and agricultural 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 equipment including equipment and other assets utilized in the agricultural, real estate, construction, transportation, material handling, mining, forestry, petroleum, and marine industries. The Company maintains a website at www.rbauction.com.

Attention Media: Photos from this auction are available for your publications. Please contact Kim Schulz for info.

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