Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. Auctioneers Incorporated

December 18, 2006 07:00 ET

Ritchie Bros. Auctioneers Completes Large Two-Day Alberta Sale

EDMONTON, ALBERTA--(CCNMatthews - Dec. 18, 2006) - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA), the world's largest industrial auctioneer, today announced the results for its unreserved industrial auction held at the Company's permanent auction site in Edmonton, Alberta. The two-day sale, held December 14 and 15, 2006, sold over 2,300 items to generate gross auction sales in excess of CA$35 million.

"It was a great end to our record year for gross auction sales in Alberta," said Brian Glenn, Ritchie Bros. Regional Manager. "There were more than 2,900 registered bidders from all over the world and, due to the cold weather, they appreciated the fact that the auction was held entirely within our auction theater using our Virtual Ramp technology."

Bidders registered from 14 international countries, as well as from 37 U.S. states, and from almost every province and territory across Canada.

"We had very strong prices for late-model Komatsu equipment, and vac trucks and trailers held their own too," added Glenn.

More than 700 internet bidders, using the Company's real-time bidding service rbauctionBid-Live, purchased over CA$6 million worth of trucks and equipment items at the Alberta sale. Internet participants were buyers or runner-up bidders on 36% of the lots available for online bidding.

There are three unreserved industrial and agricultural auctions left in the Ritchie Bros. December auction calendar. The Company's last auction of the year is December 21, 2006 in Buxton, North Dakota. The next Edmonton, Alberta auction is scheduled for March 28 and 29, 2007. 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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