Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. Auctioneers Incorporated

July 26, 2005 06:00 ET

Ritchie Bros. Auctioneers Completes US$34 Million Fort Worth, TX Auction

FORT WORTH, TEXAS--(CCNMatthews - July 26, 2005) - Ritchie Bros. Auctioneers Incorporated (TSX:RBA)(NYSE:RBA)

Over 2,400 bidders from 33 countries including 48 US states registered to participate in the Ritchie Bros. (TSX:RBA)(NYSE:RBA) Fort Worth, TX unreserved auction last week. Bidders competed for 2,695 trucks and industrial equipment items on Thursday and Friday, June 21 and 22, generating a total of over US$34 million in gross auction sales.

David Hobbs, Ritchie Bros. Regional Manager for the South Central region, said both the strong international contingent and the broad equipment selection helped make the sale successful. "Buyers from around the world prefer Ritchie Bros. unreserved auctions because they want to buy equipment in a fair and open marketplace," he said. "And consignors feel confident that we attract interested customers to our sales every time. That's what helps our auctions succeed - we are able to match local supply with global demand."

In addition to the thousands of on-site registered bidders, 640 people registered and bid using the Ritchie Bros. online bidding service, rbauctionBid-Live, which allows users to participate live and in real-time in the Company's unreserved auctions from anywhere in the world.

The auction attracted international bidders from as nearby as Mexico, and as far away as Australia, South Africa, and the Philippines.

Ritchie Bros.' upcoming auction calendar lists auctions scheduled in seven countries around the world.

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.

Contact Information

  • Ritchie Bros. Auctioneers
    Chris Hawley
    Media Relations
    North America Toll Free: 1.800.663.8457
    Ritchie Bros. Auctioneers
    Bob Armstrong
    VP Finance & CFO