Ritchie Bros. sells more than CA$40 million in Montreal, QC unreserved auction

Massive two-day Montreal auction sets multiple site records, including online sales, as well as number of buyers and items sold

MONTREAL, May 23, 2014 /CNW/ - Ritchie Bros. Auctioneers (NYSE andTSX: RBA), the world's largest industrial auctioneer, sold more than CA$40 million (US$36+ million) of equipment and trucks at its unreserved public auction in Montreal, QC this week (May 21 - 22, 2014). The auction set multiple Montreal site records, including online sales (CA$18+ million or US$16+ million), total number of buyers (1,450+), number of online buyers (650+), and number of items sold (3,700+). Bids were made in the auction in person at the auction site, live online at www.rbauction.com and by proxy.

"This record-breaking auction is all thanks to our dedicated sellers and buyers who believe strongly in the unreserved auction process," said Jessy Cantin, Regional Sales Manager, Ritchie Bros. Auctioneers. "We set a record for online sales at our last Montreal auction in March and then topped it again in this sale. With a record-breaking selection of equipment there were a number of highlights, including strong pricing on the 250+ motor homes and travel trailers, as well as a 2009 Temisko LB-T6W-98 100-ton six-axle lowboy that sold for $350,000 and a 2009 Peterbilt 367 sleeper truck tractor for $160,000."

More than 5,250 bidders from 50 countries, including all 10 Canadian provinces and one territory, as well as 44 US states, registered to bid in person or online for the auction. More than CA$23 million (US$21+ million) was purchased by Quebec buyers while participants from outside the province purchased close to CA$17 million (US$15+ million) for 42 percent of total gross auction proceeds. More than 2,200 of the bidders participated online and purchased more than CA$18+ million (US$16+ million) of equipment online.

Equipment in the auction was sold for 630+ sellers, including a large selection of heavy construction equipment for Montreal, QC-based Vaillant Enterprise.

"It was a huge auction and we were very happy with the results on the sale of our equipment—of course, you always want more, but everything sold for fair market value—right where we expected," said Gilles Gauthier, owner and president of Vaillant Enterprise. "I watched the auction from my office and bought a couple of pieces of crushing equipment in the sale online for our quarry operation in Mont-Tremblant. It's great that we are able to visit the site with a mechanic earlier in the week to see all the equipment, as they usually have something we need, and then I'm able to bid from the comfort of my office while still managing my day-to-day business."

The record-setting selection of equipment and trucks in the auction included 250+ motor homes and travel trailers, 145+ excavators, 125+ truck tractors, 85+ compactors, 70+ loaders, 60+ dump trucks, 30+ crawler tractors, 25+ motor graders, 25+ agricultural tractors and more. Every single item in the auction was sold without minimum bids or reserve prices.

AUCTION QUICK FACTS: MONTREAL, QC - MAY 21 - 22, 2014

• Total Gross Auction Proceeds - CA$40+ million (US$36+ million)
• Amount sold to online bidders - CA$18+ million (US$16+ million) *New site record
• Total registered bidders (onsite and online total) - 5,250+
• Unique registered online bidders - 2,250+
• Total number of buyers - 1,450+ *New site record
• Total number of online buyers - 650+ *New site record
• Number of lots sold - 3,700+ *New site record
• Number of sellers - 630+

The Ritchie Bros. auction calendar currently features more than 90 unreserved public auctions around the world, including the Company's next unreserved public auction in Montreal, QC, which is scheduled for July 10, 2014. Visit www.rbauction.com for a complete list of upcoming auctions.

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

Jessy Cantin, Regional Sales Manager, Ritchie Bros. Auctioneers
Auction site phone: [phone]