Large selection of late model oil and rig moving equipment to be sold in this week's Ritchie Bros. Grande Prairie, AB auction

Featuring equipment from more than 360 owners, including northern British Columbia and Alberta companies like Basnett Truck Service, Llamata Reclamation Ltd., D. Pearson Northern Ltd., S & G Holdings, and Head Construction

GRANDE PRAIRIE, AB, June 25, 2012 /CNW/ - Ritchie Bros. Auctioneers (NYSE andTSX: RBA), the world's largest industrial auctioneer, will sell a large selection of oil and gas, construction and transportation equipment this Thursday and Friday, June 28 and 29, 2012 (starting at 8 a.m.) at an unreserved auction in Grande Prairie, Alberta. More than 2,100 items, including a large selection of winch tractors, boom trucks, crawler tractors, bed trucks and more will be sold to the highest bidders on auction day, regardless of price. Interested bidders have the option of bidding in person at the Ritchie Bros. auction site in Grande Prairie (Hwy. 43 & Range Rd. 51), online in real time at www.rbauction.com or by proxy.

"This is one of the largest selections of late model equipment we've seen in the Peace Country for some time," said Brian Glenn, Vice President, Sales, Ritchie Bros. Auctioneers. "In addition to our featured oilfield rig moving equipment, the auction line-up also includes a selection of late model construction and agricultural equipment ready for work -there is something for everyone. Our yard will be open prior to the auction so interested bidders can inspect and test out the equipment."

The auction currently features more than 2,100 heavy equipment items from more than 350 owners. Amongst the owners is Hines Creek, AB-based Basnett Truck Service, which provides transportation for drill and service rigs in the region. Basnett is selling more than 100 rig moving equipment items in this week's auction.

"We're getting ready to move on to a new venture and Ritchie Bros. has been the perfect partner to help us in this key part of the process. I've been buying and selling at Ritchie Bros. auctions for over 20 years and it is the most professional auction company I've ever dealt with," said Vern Basnett, President of Basnett Truck Service. "Our fleet featured in this week's auction is made up of a wide selection of rig moving equipment, from winch and bed tractors to lowboys and floats. They've all been detailed and are ready to be put to work."

Other equipment highlights in this week's auction include eight Kenworth T800 tri-drive winch tractors (including four 2012 models), an unused 2012 Kenworth C500 T/A winch truck, a 2012 Kenworth C500 T/A tri-drive 45-ton boom truck, late model bed trucks (two 2007 Western Star 6900XD T/A 8x8, a 2006 Marcep Intruder 6x6 and a 2000 Kenworth C500 10x10 AWD), more than 25 oilfield floats and more.

Auction details:

• Auction location: Ritchie Bros.' Grande Prairie auction site at Highway 43 & Range Rd. 51, Grande Prairie, AB, T8V 2Z8
• Site phone: [phone]
• Every auction is open to the public; registration to bid is free; a refundable bid deposit may be required
• How to register and bid:
• In person at the auction site
• Online at rbauction.com - register in advance and bid online in real time on auction day; a refundable bid deposit may be required; first-time online bidders should register several days in advance of the auction
• By proxy - phone the auction site to place a proxy bid

About Ritchie Bros.
Established in 1958, Ritchie Bros. Auctioneers (NYSE andTSX: RBA) is the world's largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. Ritchie Bros. offers services that enable the world's builders to easily and confidently exchange equipment. The Company conducts hundreds of unreserved public auctions each year, selling a broad range of used and unused equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. Ritchie Bros. has over 110 locations in more than 25 countries, including 44 auction sites worldwide. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com

ATTENTION MEDIA: Photos and other media resources are available for use at http://www.rbauction.com/media. Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros.

Jose Vargas - Corporate Communications Specialist
Office: +1.778.331.5439
Mobile: [phone]
Email: [email protected]

Or

Brian Glenn - Vice President, Sales
Auction site phone: [phone]
Email: [email protected]