Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. Auctioneers Incorporated

March 08, 2005 07:00 ET

Ritchie Bros. Auctioneers Caps off Week with Over US$90 Million in Sales


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RITCHIE BROS. AUCTIONEERS INCORPORATED

TSX, NYSE SYMBOL: RBA

MARCH 8, 2005 - 07:00 ET

Ritchie Bros. Auctioneers Caps off Week with Over
US$90 Million in Sales

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 8, 2005) - Ritchie
Bros. Auctioneers Incorporated (TSX:RBA)(NYSE:RBA) announced today the
results of three, multi-day auctions held at its permanent auction sites
in Chicago, IL; Moerdijk (Rotterdam), the Netherlands; and Fort Worth,
TX last week. Total gross auction sales for all three unreserved
auctions amounted to over US$90 million.

Over 6,500 people registered to bid at the company's three auctions last
week. More than 8,200 trucks and equipment units were sold completely
unreserved on the auction days.

"The prices were consistently strong," said Rich Evans, Regional Manager
of Western Great Lakes for Ritchie Bros., "and our auctions continue to
attract bidders from around the world."

Some of the successful international buyers at the Chicago auction
purchased equipment that is now destined for Thailand, Peru, Columbia,
and India. "We continue to transcend local and regional market
conditions for our consignors, getting them global market value," Evans
added. "And with prices for most categories of equipment holding steady,
it's no surprise that so many owners have decided that now is an
excellent time to be selling."

The auction in Fort Worth was the largest of the week. Three thousand
seventy-one (3,071) people from 35 countries and 47 U.S. states
registered to bid on the 3,167 lots in the March 2-4th Texas auction.
More than 750 internet bidders, using the company's real-time bidding
service, rbauctionBid-Live, purchased over US$8 million worth of trucks
and equipment items. The internet participants were buyers or runner-up
bidders on 26% of the lots available for online bidding.

Nine unreserved auctions are on the Ritchie Bros. calendar this week
including Montreal, Quebec (2-day); Brisbane, Australia; Los Angeles,
California (2-day); Vancouver, British Columbia; Denver, Colorado
(2-day); Melbourne, Australia; Quesnel, British Columbia; and Las Vegas,
Nevada.

Details on all upcoming Ritchie Bros. auctions, including equipment
listings, are available on www.rbauction.com.



--------------------------------------------------------------------
Auction Highlights - Week of February 28 to March 4, 2005
--------------------------------------------------------------------
Chicago, IL Moerdijk, NLD Fort Worth, TX
--------------------------------------------------------------------
Dates March 1 & 2, March 1, 2 & 3, March 2, 3 & 4,
2005 2005 2005
--------------------------------------------------------------------
Gross auction sales Over US$20 Over EUR 23 Over US$38
million million million
(Over US$31
million)
--------------------------------------------------------------------
Number of trucks and
equipment items sold 1,981 3,099 3,167
--------------------------------------------------------------------
Number of registered
bidders 2,360 1,154 3,071
--------------------------------------------------------------------
Number of countries
represented by bidders 23 57 35
--------------------------------------------------------------------
Number of American
states represented
by bidders 47 21 47
--------------------------------------------------------------------


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.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Ritchie Bros. Auctioneers Incorporated
    Ellen Engelsbel
    Media Relations
    North America Toll Free: 1-800-663-8457 or (604) 273-2135
    eengelsbel@rbauction.com
    or
    Ritchie Bros. Auctioneers Incorporated
    Bob Armstrong
    VP Finance & CFO
    (604) 273-7564
    ir@rbauction.com
    www.rbauction.com