Ritchie Bros. to sell equipment for Golden Hill Ventures in Whitehorse
unreserved auction

WHITEHORSE, Sept. 30 /CNW/ - Ritchie Bros. Auctioneers (NYSE andTSX: RBA), the world's largest industrial auctioneer, will conduct a multi-million dollar public unreserved equipment auction in Whitehorse, Yukon on Wednesday, October 13, 2010 starting at 10:00 a.m. More than 170 heavy equipment items and other assets from multiple owners, including a major realignment for Golden Hill Ventures, a Whitehorse-based contractor, will be sold with no reserve prices or minimum bids. More information, including equipment photos and auction details, is available at www.rbauction.com.

"Our company is going through a re-organization. We're still in business and buying equipment as we need it but Ritchie Bros. has been chosen to sell a major portion of our fleet that we're not currently using," said Jon Rudolph, President, Golden Hill Ventures. "Having equipment sitting idle in the yard and not working isn't a good investment for us. It's better to sell it and put the capital towards equipment we need and paying down debt. I've been buying heavy iron for over 25 years and even purchased many of these items at Ritchie Bros.' unreserved auctions in Edmonton. I know they attract buyers from around the world-buyers who will need and use this equipment for projects they're working on."

Heavy equipment items being sold in the October 13th Whitehorse auction include:

    
    -   A 2002 Caterpillar D11R crawler tractor
    -   A 2005 Volvo L330E wheel loader
    -   5 Caterpillar 776B rock trucks
    -   6 Caterpillar 773B rock trucks
    -   3 Caterpillar D10N crawler tractors
    -   A 2005 Hitachi ZX800 hydraulic excavator
    

Other equipment featured in the auction includes 15+ rock trucks, 10+ hydraulic excavators, 10+ crawler tractors, motor scrapers, motor graders, hydraulic truck cranes, forklifts, drills, truck tractors, dump trucks and boom, tank, fuel & lube, flatbed and pickup trucks as well as an assortment of trailers. Every item in the auction will be sold to the highest bidder-regardless of price-with no minimum bids or reserve prices.

"We have a great selection of equipment, particularly some big iron items, being sold in the Whitehorse auction. It's a great opportunity for buyers to purchase the heavy equipment they need free of liens and at prices they're willing to pay," said Dean Lowry, Territory Manager, Ritchie Bros. Auctioneers. "You can even come to the yard and test, inspect and compare items for yourself. All the equipment is there and ready to go. The Caterpillar D11R crawler tractor is especially hard to come by in the market right now-it takes months to get this item brand new, which is the same case for the Caterpillar 776B rock trucks."

Equipment consignments are still being accepted; owners interested in selling their equipment in the October 15 auction can contact the Whitehorse auction site at +1.867.335.8670 to discuss their options.

    
    Auction details:
    ----------------
    -   Location: 92340 Alaska Hwy, Whitehorse, YT, Y1A 0A1
    -   Whitehorse auction site tel: [phone]
    -   Time and date: Wednesday, October 13, 2010 at 10:00 a.m. (local time)
    -   Auction is open to the public; registration to bid is free; a
        refundable bid deposit may be required
    -   How to register and bid:
        -  In person at the auction site - first-time bidders from Canada and
           the U.S must place a refundable $1,000 bid deposit when they
           register on-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
    

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. The Company has over 110 locations in more than 25 countries, including 42 auction sites worldwide. Ritchie Bros. sells, through unreserved public auctions, a broad range of used and unused industrial assets, including equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. 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

For further information: Kim Schulz, Manager, Corporate Communications, Ritchie Bros. Auctioneers, Phone: [phone] or email [email protected]; Or Dean Lowry, Territory Manager, Ritchie Bros. Auctioneers, Whitehorse auction site, tel: [phone] or email [email protected]