Ritchie Bros. Auctioneers Incorporated

Ritchie Bros. Auctioneers Incorporated

October 03, 2005 09:00 ET

Ritchie Bros. Ends Week with Two Large Multi-day Auctions

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 3, 2005) - Last week, Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA) conducted four unreserved industrial equipment auctions, including two multi-day auctions held at its permanent auction sites in Moerdijk (Rotterdam), The Netherlands and Ft. Worth, Texas.

Moerdijk, The Netherlands

The auction held at the Company's Moerdijk site attracted over 1,000 bidders from 65 countries, including 16 US states, to bid on over 3,600 trucks and equipment items. Gross auction sales for the September 27-29th auction exceeded EUR 26 million (over US$31 million).

Brian Butzelaar, Regional Manager for Ritchie Bros. Auctioneers said that global demand for good quality used equipment remains strong and that many customers are willing to travel to participate in the Company's unreserved auctions. "It was great to see many of the buyers who were at our sale in Spain the previous week then come to Moerdijk to fill more of their equipment needs," he said. "Everyone wins at our auctions. Sellers receive full market value for their surplus trucks and equipment, and buyers get the machines they need and can have them on the job site the very next day. It's that simple - our auctions work well for everyone."

Ft. Worth, Texas

The Ritchie Bros. auction held September 29 and 30 in Ft. Worth generated over US$29 million in gross auction sales. More than 2,200 customers from 24 countries and 45 US states registered to bid on over 2,800 items.

Of the total registered bidders for the Ft. Worth sale, 672 people registered and bid using the Ritchie Bros. online bidding service, rbauctionBid-Live, purchasing in excess of $5.4 million worth of trucks and equipment. Internet bidders were the winning buyers or runner-up bidders on 27% of the items offered online.

The Company's other auctions during the week were held in Montreal, QC and Denver, CO.

This week Ritchie Bros. has five auctions scheduled in Toronto, ON; North East, MD; Phoenix, AZ; Prince George, BC; and Minneapolis, MN. Auction information and equipment details can be found on the Company's web site at 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.

Contact Information

  • Ritchie Bros. Auctioneers Incorporated
    Ellen Engelsbel
    Media Relations
    North America Toll Free: 1-800-663-8457 or (604) 273-2135
    Ritchie Bros. Auctioneers Incorporated
    Bob Armstrong
    VP Finance & CFO
    (604) 273-7564