Ritchie Bros. Auctioneers conducts largest Saskatchewan auction in its history

More than CA$25 million of equipment was sold at the Saskatoon, SK grand re-opening auction on April 18, 2012

SASKATOON, SK, April 20, 2012 /CNW/ - Ritchie Bros. Auctioneers (NYSE andTSX: RBA), the world's largest auctioneer of farm, construction and other heavy equipment, conducted its largest Saskatchewan auction selling more than CA$25 million (US$25 million) of equipment at its grand re-opening auction in Saskatoon, SK on April 18, 2012. In total, more than 1,900 agricultural and other industrial equipment items were sold at this one-day unreserved public auction—a new Saskatoon site record. Every item was sold to the highest bidder, regardless of price—without minimum bids or reserve prices. Bids were made in the auction on-site, online in real time at www.rbauction.com or by proxy.

"Since 2006, when we conducted our first auction at our Saskatoon site, we've experienced increasing demand to hold larger auctions here," said Jordan Clarke, Regional Sales Manager, Ritchie Bros. Auctioneers. "Because of this demand we invested in new auction facilities, including a new auction building that's nearly twice the size of the old one with seating for more than 1,000 people. Our customers responded to this investment by participating in our largest auction ever in Saskatoon—thank you so much to our buyers, sellers and the community of Saskatchewan that we are proud to be part of."

More than 3,950 people from 23 countries, including eight Canadian provinces and two territories registered to bid in person or online in the auction—this is a new Saskatoon site record for number of registered bidders. Bidders from outside Saskatchewan purchased more than CA$6 million (US$6 million) or 25 percent of total gross auction proceeds. More than 1,600 of the bidders taking part in the auction registered to bid online and purchased more than CA$7 million (US$7 million) of equipment available online—these are both new Saskatoon site records for number of online bidders and online gross auction proceeds.

AUCTION QUICK FACTS: SASKATOON, SK - APRIL 18, 2012

• Gross Auction Proceeds - CA$25+ million (US$25+ million)
• Amount sold to online bidders - CA$7+ million (US$7+ million) (28 percent)
• Unique bidders (total) - 3,950+
• Unique online bidders - 1,600+ (40 percent)
• Lots sold - 1,900+
• Number of sellers - 250+

Ritchie Bros. also conducted its largest auction in Regina, SK on March 29, 2012, selling more than CA$9 million (US$9 million) worth of equipment in a single day. The auction featured more than 650 agricultural and other industrial equipment items and attracted more than 2,100 registered bidders from 22 countries.

Consignments for the next Saskatoon auction (June 26, 2012) and Regina auction (July 17, 2012) are now being accepted. To sell your equipment and trucks with Ritchie Bros., please contact: +1.306.933.9333 (for Saskatoon, SK) or +1.306.776.2397 (for Regina, SK). The Ritchie Bros. auction calendar currently features more than 90 unreserved public auctions around the world. Visit www.rbauction.com for a complete list of upcoming auctions.

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.

Kim Schulz, Manager, Corporate Communications
Phone: [phone] or email [e-mail]

Or

Jordan Clarke, Regional Sales Manager, Ritchie Bros. Auctioneers
Saskatoon site phone: [phone] or email [e-mail]