More than CA$40 million of equipment sold at Ritchie Bros. Grande Prairie, AB auction

Large selection of equipment attracts more than 5,000 bidders from 32 countries to two-day unreserved public auction in Grande Prairie, AB (April 9 - 10, 2014)

GRANDE PRAIRIE, AB, April 11, 2014 /CNW/ - Ritchie Bros. Auctioneers (NYSE andTSX: RBA), the world's largest industrial auctioneer, sold more than CA$40 million (US$37+ million) of equipment items and trucks at an unreserved public auction in Grande Prairie, AB on April 9 - 10, 2014. More than 2,350 trucks and equipment items were sold in the auction—with each and every item being sold to the highest bidder, regardless of price—without minimum bids or reserve prices. Bids in the auction were made in person at the auction site, online at www.rbauction.com and by proxy.

"It was a fantastic sale to kick-off the auction season in Grande Prairie and a great effort from our entire team," said Blair Gogowich, Regional Sales Manager, Ritchie Bros. Auctioneers. "We had an excellent selection of equipment from some great homes. Pricing was strong across the board with outstanding results for our sellers. This sale featured a large selection of equipment that was job-ready and as a result, this is truly a win-win situation for buyers and sellers."

Bidders from outside Alberta purchased close to CA$11.5 million or 28 percent of total gross auction proceeds. More than 2,750 of the bidders taking part in the auction registered to bid online and purchased more than CA$18 million (US$16.5 million) or 44 percent of equipment available online.

Equipment highlights in the two-day Grande Prairie auction included:

• 2013 Kenworth T800 5400 Gallon Tri Drive Water Truck that sold for CA$270,000 (US$246,900)
• 2011 Kenworth T800B T/A Sleeper Winch Tractor that sold for CA$190,000 (US$173,800)
• Two 2013 Peterbilt 367 T/A Vacuum Trucks that sold for CA$240,000 (US$219,540) each
• Six 2013 John Deere 9560R 4WD Tractors that sold for between CA$265,000 - $347,500 (US$242,410 - $317,880) each
• Four 2011 Caterpillar 730 6x6 Articulated Dump Trucks that sold for between CA$187,500 - $270,000 (US$171,516 -- $246,983) each
• a 1998 D8R Series II Crawler Tractor that sold for CA$270,000 (US$246,900)
• a 2013 Caterpillar 336DL Hydraulic Excavator that sold for CA$347,500 (US$317,754)
• Seven parcels of commercial property (16.082+/- deeded acres) in Rainbow Lake, AB that sold for more than CA$1 million (US$914,671)

David "Duffy" Driedger, owner of Duffy Enterprises - a construction operation based in Rainbow Lake, AB, sold more than 250 trucks, trailers and equipment items as well as his real estate in a complete dispersal at the auction.

"I've been a buyer and seller at Ritchie Bros. auctions for more than 17 years," said Driedger. "There are mixed feelings today as now I'm out of the business. But the sale exceeded my expectations and now it's time to spend more time with my wife and boys and I'm looking forward to that."

With that being said, he also purchased 100 acres of land at the unreserved auction and plans to develop it.

"You can't get it out of your blood, just like that," he said. "I'll be at the next auction too, I'm sure."

AUCTION QUICK FACTS: GRANDE PRAIRIE, AB - APRIL 9 & 10, 2014

• Gross Auction Proceeds - CA$40+ million (US$37+ million)
• Amount sold to online bidders - CA$18+ million (US$16.5 million) or 44 percent of total sales
• Unique bidders (total) - 5,000+
• Unique online bidders - 2,750+
• Lots sold - 2,350+

The Ritchie Bros. auction calendar currently features 120+ unreserved public auctions around the world, including the Company's next Grande Prairie unreserved public auction, which is scheduled for June 25 - 26, 2014.

Visit rbauction.com for a complete list of upcoming auctions around the world.

About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE andTSX: RBA) is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. ^TM solutions make it easy for the world's builders to buy and sell equipment with confidence, including live unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOne^TM secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauctionfinance.com). Ritchie Bros. has operations in more than 25 countries, including 44 auction sites worldwide. Learn more at RitchieBros.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.

SOURCE: Ritchie Bros. Auctioneers

Ian Malinski, Corporate Communications Lead, Ritchie Bros. Auctioneers
Phone: [phone] | Email: [email protected]

Or

Blair Gogowich, Regional Sales Manager, Ritchie Bros. Auctioneers
Phone: [phone]