Ritchie Bros. Auctioneers Incorporated
TSX : RBA
NYSE : RBA

Ritchie Bros. Auctioneers Incorporated

March 12, 2007 07:00 ET

Ritchie Bros. Auctioneers Holds Large Chicago Auction

CHICAGO, ILLINOIS--(CCNMatthews - March 12, 2007) - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA), the world's largest auctioneer of industrial equipment, announces results for its two-day Chicago auction held March 8 and 9, 2007. The unreserved industrial auction, which sold more than 2,200 truck and equipment items, generated gross auction sales in excess of US$25 million.

"We had large crowds attending the auction," said Rich Evans, Ritchie Bros. Regional Manager. "Prices were strong across the board on both construction equipment and trucks. It is evident that there is both a good supply of trucks and equipment and a strong demand in the market. We are already signing up trucks and equipment for our next sale, taking place June 6 and 7, 2007. The momentum continues."

More than 2,400 registered bidders from 22 countries, as well as 49 U.S. states, and ten Canadian provinces participated in the auction, held at the Company's permanent auction site in Morris, IL.

Over 650 of these bidders registered to use the Company's rbauctionBid-Live real-time bidding service, which allows people to participate in the auction live and in real-time over the internet. Internet participants were buyers or runner-up bidders on 40% of the lots available for online bidding and accounted for purchases of more than US$6 million worth of trucks and equipment at the Chicago auction.

Currently on the upcoming Ritchie Bros. auction calendar, there are over 38,000 truck and equipment items featured in 38 unreserved industrial auctions and 120 unreserved agricultural auctions. Next week the Company is holding unreserved industrial auctions in Montreal, Quebec; Dubai, United Arab Emirates; Vancouver, British Columbia; Sagunto, Spain; Minneapolis, Minnesota; and Chilliwack, British Columbia. 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 and other assets utilized in the construction, transportation, material handling, mining, forestry, petroleum, marine, real estate, and agricultural industries. The Company maintains a website 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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