Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. Auctioneers Incorporated

October 12, 2006 07:00 ET

Ritchie Bros. Auctioneers Beats USA Fourth Quarter Auction Record

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2006) - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA), the world's largest industrial auctioneer, today announced that it conducted a large, two-day unreserved auction October 10-11, 2006, in Orlando, Florida, generating gross auction sales of more than US$39 million.

More than 1,500 registered bidders from 39 countries, 48 U.S. states and 10 Canadian provinces registered to bid on over 2,300 items at the two-day auction.

More than 625 internet bidders, using the Company's real-time bidding service, rbauctionBid-Live, purchased over US$8.5 million worth of truck and equipment items. The internet participants were buyers or runner-up bidders on 23% of the lots available for online bidding.

"It was the largest fourth quarter auction we've ever held in the United States," said Gary Seybold, Ritchie Bros. Florida Regional Manager. "It was a smooth auction with a good crowd on both auction days. We noticed strong prices for excavators, and for the 2003 Cat 385BL hydraulic excavator in particular, which sold for US$335,000 to an out-of-state purchaser."

Now the Florida team readies for its large February 2007 auction. "At this point we are preparing for a large, five-day auction," said Seybold. The auction is currently scheduled for February 20-24, 2007, and customers are being encouraged to get their fleets ready now for consignment.

There are currently over 15,000 truck and equipment items featured in 40 unreserved industrial auctions and 23 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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