Ritchie Bros. Auctioneers Incorporated
TSX : RBA
NYSE : RBA

Ritchie Bros. Auctioneers Incorporated

April 30, 2007 07:00 ET

Ritchie Bros. Unreserved Netherlands Auction Features Bauma Charity Auction

MOERDIJK, THE NETHERLANDS--(CCNMatthews - April 30, 2007) - Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA), the world's largest auctioneer of trucks and industrial equipment, announces the results of its large Moerdijk, the Netherlands auction held April 25-27, 2007. More than 750 registered bidders from 56 countries, 12 U.S. states and five Canadian provinces attended the unreserved auction at the Company's permanent auction site in the port of Moerdijk, the Netherlands. The three-day auction generated more than EUR 17 million (US$24 million) in gross auction sales.

"We had more than 3,000 lots in last week's sale, including many unused items," said Ralf Harders, Ritchie Bros. Regional Manager. "The equipment came from Asia and all over Europe, and after the auction, the buyers transported their newly purchased items to locations all around the world. An 80-ton Grove all terrain crane from Portugal was sold to Belgium. A 2006 Caterpillar 980H wheel loader from Norway was sold to a buyer from Australia. More than 80 per cent of the equipment left the Netherlands after the auction."

More than 140 of the bidders registered to use the Company's real-time bidding service, rbauctionBid-Live, and purchased more than EUR 1 million (more than US$1.5 million) worth of trucks and equipment online during the auction.

While the Moerdijk auction was being conducted, the Company also held a charity auction at Bauma, the world's largest exhibition for the construction and mining industries, in Munich, Germany. On April 27, Ritchie Bros. conducted a live auction at Bauma of a special edition 2007 Gehl SL4240 skid steer loader, generously donated by Gehl Europe GmbH. Bidders in Moerdijk, at Bauma and online were able to simultaneously participate in the charity auction. The skid steer loader was sold to a buyer at the Bauma trade show in Munich for EUR 33,000 (US$44,000), with proceeds of the sale going to a number of European charities.

"That was definitely one highlight of our week," said Mr. Harders. "We had between 450 and 500 people participating in the live auction at Bauma, and they loved it. The atmosphere was great."

There are currently 47 unreserved industrial auctions and 45 unreserved agricultural auctions on the upcoming Ritchie Bros. auction calendar. Details on all upcoming Ritchie Bros. auctions 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 assets including equipment, trucks 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.

Contact Information

  • Ritchie Bros. Auctioneers
    Kim Schulz
    Corporate Communications Manager
    (604) 273-7564
    Email: kschulz@rbauction.com
    or
    Ritchie Bros. Auctioneers
    Ralf Harders
    Regional Manager
    +31.168.392200
    Website: www.rbauction.com