Ritchie Bros. sells US$56+ million of equipment in final Houston, TX auction of 2014

More than 4,650 equipment items and trucks were sold in the two-day unreserved public auction

HOUSTON, Nov. 14, 2014 /CNW/ - Ritchie Bros. Auctioneers (NYSE andTSX: RBA), the world's largest industrial auctioneer, sold more than US$56 million of heavy equipment and trucks on November 12 – 13, 2014 at its permanent auction site in Houston, Texas. Auction highlights included 185+ truck tractors, 130+ excavators, 75+ agricultural tractors, 55+ crawler tractors, 50+ compactors, 45+ skid steer loaders and more.

"Our sale in Houston this week wraps up another successful year for us here in the Gulf region," said Alan McVicker, Regional Sales Manager, Ritchie Bros. Auctioneers. "The market continues to be strong as our Houston team now turns its attention to building our next auction, which will be held in February 2015."

More than 4,250 people from 60+ countries, including all 50 U.S. states, registered to bid in person or online in the auction. Bidders from outside Texas purchased more than US$30 million or 54 percent of total gross auction proceeds. Close to 2,600 of the bidders taking part in the auction registered to bid online and purchased more than US$26 million of equipment (47 percent of total gross auction proceeds).

Equipment in the auction was sold for 450+ sellers, including Columbus, Texas based Maverick Contractors. The company, which provides site excavation services in the greater Houston area, was realigning its fleet at the auction.

"We sold a selection of late-model, four-wheel-drive tractors and pull scrapers in this week's auction and the results exceeded our expectations," said Michael Whitlock, President, Maverick Contractors, who has been buying and selling with Ritchie Bros. for 15 years. "After this auction our fleet is one step closer to tackling the new projects waiting for us in the new year."

AUCTION QUICK FACTS: HOUSTON, TEXAS – NOVEMBER 12 – 13, 2014

• Total Gross Auction Proceeds – US$56+ million
• Amount sold to online bidders – US$26+ million
• Total Registered bidders (in-person and online total) – 4,250+
• Registered online bidders – Close to 2,600
• Total Lots sold – 4,650+
• Number of sellers – 450+

The Ritchie Bros. auction calendar currently features more than 85 unreserved public auctions around the world, including a two-day unreserved public auction in Fort Worth, Texas on December 3 – 4, 2014, as well as the first Houston auction of 2015 on February 11 – 12, 2015. To sell your equipment and trucks with Ritchie Bros., please contact the Fort Worth site at +1.817.237.6544 or the Houston site at +1.713.455.5200. Visit rbauction.com for a complete list of upcoming auctions and up-to-date equipment listings.

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.

Forward looking statements
This press release may contain forward-looking information. Such forward looking information involves material assumptions, risks and uncertainties, certain of which are beyond the control of Ritchie Bros. Such assumptions, risks and uncertainties include, without limitation, factors influencing the supply of and demand for used equipment, fluctuations in market conditions and values of used equipment, seasonal and periodic variations in operating results, actions of competitors, the success of the Company's new initiatives, economic and other conditions in local, regional and global markets, and other risks and uncertainties as detailed from time to time in the Company's securities filings. Ritchie Bros.' actual achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking information will transpire or occur. Any forward-looking information is made as at the date of this press release and Ritchie Bros. does not undertake any obligation to update publicly or to revise any of the included forward-looking information, except as may be required by applicable securities laws.

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

Jose Vargas, Corporate Communications Lead, Ritchie Bros. Auctioneers, Phone: [phone], Email: [email protected]; Or, Alan McVicker, Regional Sales Manager, Ritchie Bros. Auctioneers, Houston site phone: [phone]