Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. Auctioneers Incorporated

May 31, 2005 07:01 ET

Ritchie Bros. Auctioneers Completes US$27 Million Orlando Sale

ORLANDO, FLORIDA--(CCNMatthews - May 31, 2005) - Close to 1,400 bidders from 34 countries and each US state registered to compete for trucks and equipment items at the Ritchie Bros. Auctioneers Incorporated (TSX:RBA)(NYSE:RBA) Orlando, FL unreserved auction last week, tallying over US$27 million in gross auction sales.

The May 26th and 27th auction sold 1,972 trucks and industrial equipment items to bidders from countries as far away as India, the United Kingdom, Belize, Germany, and The Netherlands.

Gary Seybold, Ritchie Bros.' Regional Manager for Florida, said the multinational aspect of the Company's Florida auctions is important to the site's success. "For buyers, the benefit is having nearly 2,000 items to choose from," he said. "But the fact that we also hosted bidders from 34 countries means that sellers are getting global value for their assets. That's the value of the Ritchie Bros. model."

Of the sale's 1,400 bidders, 482 registered to bid remotely using the Ritchie Bros. online bidding service, rbauctionBid-Live, which allows users to participate in the Company's unreserved auctions from anywhere in the world. Online buyers accounted for just over 16 per cent of the auction's total sales. More than half of all bidders who participated in the auction were from outside Florida.

The 99-acre Orlando auction site is the current Company record holder for single-auction gross auction sales, set at over US$79 million in February 2005.

Ritchie Bros. currently has over 25,000 trucks, industrial equipment, and farm and agricultural equipment items listed for sale at 53 upcoming auctions scheduled in the coming months. Full equipment listings and auction details can be found at the Company's web site, 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 http://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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