Record number of heavy equipment items to be sold at upcoming Ritchie Bros. Panama City, PAN auction

Close to 600 heavy construction, mining and transportation equipment items will be sold in the upcoming Panama City unreserved public auction on November 14, 2014

PANAMA CITY, PANAMA, Nov. 12, 2014 /CNW/ - Ritchie Bros. Auctioneers (NYSE andTSX: RBA), the world's largest industrial auctioneer, will conduct its largest ever Panama City unreserved public auction on November 14, 2014. Equipment highlights in the auction include a selection of 90+ compactors, 45+ excavators, 35+ loader backhoes and more. Bids can be made in the auction in-person at the auction site, online in real time at www.rbauction.com and by proxy.  

"The yard is filled with the most diverse collection of equipment we've ever offered in the 15 years we have held auctions in Panama," said Richard Aldersley, Vice President, Sales, Ritchie Bros. Auctioneers. "I encourage interested buyers to come to our auction site ahead of the auction to test and compare the equipment and get the information they need prior to auction day. Research can also be done ahead of time on our website, rbauction.com."

The upcoming Panama City unreserved public auction features a large selection of construction, mining, transportation and other equipment. Panama-based RentaEquipos, a long-time Ritchie Bros. customer that brings equipment rental solutions to the Chiriqui, Chorrera Arraijan and Penonome regions in Panama will sell a selection of loader backhoes, hydraulic excavators and light towers.  

"We have been selling equipment at Ritchie Bros. auctions all around the world, including Panama, for many years because Ritchie Bros. provides ease and convenience through both their on-site and online bidding options," said Luis Carlos Olivares, General Manager of RentaEquipos Panama. "The Panama auction offers a great selection for anyone in the heavy equipment industry. This is good quality, late-model equipment and it is ready to be put straight to work."

Panama City, Panama auction details:

• Location: Corredor Sur exit, Ciudad Radial, Juan Diaz, Panama City, PAN
• Time and date: Friday, November 14, 2014 at 9:00 a.m. (local time)
• Auction site phone: [phone]
• The auction is open to the public; registration to bid is free; a refundable bid deposit may be required
• Site is open daily for registration and equipment previews between 8:00 a.m. and 5:00 p.m. (local time)
• 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 bidders should register several days in advance of the auction
  • By proxy – phone the auction site to place a proxy bid
• Interested buyers can come to the auction site to inspect, test and compare items ahead of the auction

For more information, including detailed equipment information and high-resolution equipment photos, visit the Company's 21-language website at www.rbauction.com.

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

José Vargas, Corporate Communications Lead, Ritchie Bros. Auctioneers, Phone: [phone] | Email: [email protected] Or Richard Aldersley, Vice President, Sales, Ritchie Bros. Auctioneers; Panama City auction site phone: [phone]