Ritchie Bros. sells more than CA$95 million of equipment in two days in Edmonton, AB

This week's Edmonton auction achieved new records for gross auction proceeds (CA$95+ million), number of sellers (840+) and number of items (5,850+) sold at a two-day auction

EDMONTON, Oct. 31, 2013 /CNW/ - Ritchie Bros. Auctioneers (NYSE andTSX: RBA), the world's largest industrial auctioneer, conducted its largest two-day auction in Company history this week in Edmonton, AB (October 29 - 30, 2013). More than 5,850 equipment items and trucks were sold in the public auction for more than CA$95 million (US$90+ million)—all equipment was sold by unreserved auction, with no minimum bids or reserve prices. Multiple Ritchie Bros. records were set at this auction, including highest gross auction proceeds and most items sold in a two-day auction globally, most items ever sold in any Canadian auction and most sellers ever at any auction globally. Bids were made in person at the Edmonton auction site, online in real time at www.rbauction.com and by proxy.

"This is our fifth Edmonton auction of the year and usually our October auction is our second biggest sale next to our three-day April auction, but it's never been this big before—to sell more than 5,850 equipment items and trucks in two days is unheard of," said Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers. "At this time of year many contractors are changing gears—selling off equipment used in the summer and getting new gear for the winter season. In this week's auction we witnessed strong competition for equipment in all categories from bidders around the world, which helped us achieve global market value for our sellers."

More than 6,450 bidders from 53 countries, including all Canadian provinces and two territories and 43 US states, registered to bid in person or online for the auction. CA$63+ million (US$60+ million) of equipment was purchased by Alberta buyers. Participants from outside Alberta purchased close to CA$32 million (US$30+ million) of equipment or 33 percent of total gross auction proceeds. More than 3,600 of the bidders participated online and purchased CA$35+ million (US$33+ million) of the equipment available online.

Equipment in the auction was sold for a record-breaking 840+ sellers, including late-model hydraulic excavators and other equipment for PIPE-WATCH INC., a Camrose, AB-based pipeline integrity construction company.

"This was our first time selling with Ritchie Bros. and we would absolutely sell with them again," said Ed Wrzesien, Director & Chief Financial Officer for PIPE-WATCH INC. "Our equipment received bids from on site in the auction theater and around the world through online bidding. The power of Ritchie Bros. online bidding cannot be overstated as it opens the auction up to a whole new market—a much larger audience of potential bidders. Throughout the entire selling process, Ritchie Bros. was open, honest and professional—everything went smooth and was done as expected."

AUCTION QUICK FACTS: EDMONTON, AB--OCTOBER 29 - 30, 2013

• Gross Auction Proceeds - CA$95+ million (US$90+ million) (*New Ritchie Bros. global record for highest gross auction proceeds in a two-day auction)
• Amount sold to online bidders - CA$35+ million (US$33+ million)
• Unique bidders (onsite and online total) - 6,450+
• Unique online bidders - 3,600+
• Lots sold - 5,850+ (*New Ritchie Bros. record for most equipment sold in a Canadian auction and most items ever sold in two days)
• Number of sellers - 840+ (*New Ritchie Bros. global record for most sellers in an auction)

The Ritchie Bros. auction calendar currently features 80+ unreserved public auctions around the world, including the Company's next unreserved public auction in Edmonton, AB, which is scheduled for December 12 - 13, 2013. 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: A high-res aerial photo of this week's Edmonton, AB auction is available for download at www.rbauction.com/photos. Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros.

Image with caption: "Ritchie Bros. Auctioneers held a record-breaking auction this week at its permanent site in Edmonton, AB. More than 5,850 equipment items and trucks were sold for CA$95+ million--making it the largest two-day auction in Company history. (CNW Group/Ritchie Bros. Auctioneers)". Image available at: http://photos.newswire.ca/images/download/20131031_C8775_PHOTO_EN_32762.jpg

SOURCE: Ritchie Bros. Auctioneers

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

Or

Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers
Edmonton auction site phone: [phone]