Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. Auctioneers Incorporated

December 04, 2006 07:00 ET

Ritchie Bros. Auctioneers Ends November With Large European Sale

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 4, 2006) - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA), the world's largest industrial auctioneer, today announced the results of a large, three-day European auction held at Ritchie Bros. permanent auction site in Moerdijk, The Netherlands. The auction, held Wednesday, November 29 through Friday, December 1, 2006, sold over 3,600 items and generated gross auction sales in excess of EUR 27 million (over US$35 million).

"With bidders registering from all over Europe, North America, and places as far away as Saudi Arabia and South Africa, our sales here in Europe are as strong now as they have ever been," said Ralf Harders, Ritchie Bros. Regional Manager.

More than 1,000 bidders from 68 countries around the world registered to bid at the auction.

196 registered internet bidders, using the Company's rbauctionBid-Live real-time bidding service, purchased over EUR 2 million (over US$2.6 million) worth of trucks and equipment items at the three-day sale. Internet participants were buyers or runner-up bidders on 16% of the lots available for online bidding - almost double the percentage experienced at the last Moerdijk auction in September 2006.

The three-day Moerdijk sale was the fourth sale to be held in Europe during a busy auction month in November. Prior to last week's sale in Moerdijk, Ritchie Bros. held a two-day auction in Sagunto, Spain and a single-day industrial and agricultural auction in Meppen, Germany. The Company also held its first-ever unreserved public auction in Portugal (Leiria) earlier in the month.

"There used to be a time when all of the Company's European sales were held here in Moerdijk. The recent growth of our European operations has taken us to new and promising markets that are contributing to even stronger sales at our facility in Moerdijk," added Harders. Ritchie Bros.' European Division now looks forward to wrapping up the 2006 calendar year with an unreserved industrial auction in Livorno, Italy, which will be held on Thursday, December 7, 2006.

There are 25 unreserved industrial auctions and 42 unreserved agricultural auctions in the upcoming 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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