Ritchie Bros. Auctioneers Incorporated
TSX : RBA
NYSE : RBA

Ritchie Bros. Auctioneers Incorporated

December 11, 2006 07:00 ET

Ritchie Bros. Auctioneers Completes Two-Day Texas Auction

FORT WORTH, TEXAS--(CCNMatthews - Dec. 11, 2006) - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA), the world's largest industrial auctioneer, today announced the results for its two-day industrial auction held at the Company's permanent Fort Worth, Texas facility. The large unreserved auction - the fifth held this year in Fort Worth - took place December 7-8, 2006. More than 2,500 trucks and equipment items were sold to generate gross auction sales in excess of US$27 million.

"It was a great end to our record-breaking year for gross auction sales here in Fort Worth," said David Hobbs, Ritchie Bros. Divisional Manager. "More than 2,200 people registered for this auction from all over the world."

Bidders registered for the auction from 26 countries, as well as from 48 U.S. states and nine Canadian provinces.

Highlights from the auction included a 2003 Cat RM350B reclaimer/mixer that sold for US$300,000 and a Demag AC205 100 ton all terrain crane that sold for US$360,000.

A total of 775 internet bidders, using the Company's real-time bidding service, rbauctionBid-Live, purchased close to US$6 million worth of truck and equipment items. The internet participants were buyers or runner-up bidders on 27% of the lots available for online bidding.

There are seven unreserved industrial auctions and two unreserved agricultural auctions this month in the 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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