US$46+ million of equipment sold at Ritchie Bros. Fort Worth auction

May 2016 auction attracts 4,325 people to bid on 3,750+ items; US$21+ million sold online

FORT WORTH, TX, May 6, 2016 /CNW/ - A diverse selection of construction, transportation and farming equipment attracted thousands of buyers from around the world to this week's Ritchie Bros. auction in Fort Worth, TX (May 4-5, 2016). By auction's end, 4,325 people had registered to bid in person and online, and 3,750+ items had been sold.

In total, Ritchie Bros. sold more than US$46 million of equipment over two days, including US$21+ million (45 percent) sold to online bidders. Out-of-state buyers purchased US$25+ million (55 percent) of the equipment, from as far as Colombia, Vietnam, and the United Arab Emirates.

"We had a very diverse mix of gear across all sectors that attracted strong crowds and active bidding," said Dolan Aucoin, Regional Sales Manager, Ritchie Bros. "From quality yellow iron and trucks to late-model farm equipment, including combines, tractors and more, this auction had it all. We saw stable pricing on both days of the auction, helping us achieve solid results for consignors."

Close to 500 companies and contractors sold equipment in the auction, including Roper Inc., an equipment dealer based in Odessa, TX.

"I've known Ritchie Bros. for years—I don't know of anybody else that I trust as much as them," said Robert Pomroy, owner of Roper Inc. "Whether you're doing a complete liquidation or selling 20 pieces like me, I'd recommend Ritchie Bros."

Specific equipment sale highlights:

• Two 2015 Dragon Quintaplex frac stimulation units sold for a combined US$600,000
• Four Caterpillar D6T XL dozers sold for a combined US$527,500
• Two 2011 Volvo A40F 6x6 articulated dump trucks sold for a combined US$460,000
• Four 2015 International 990I Eagle truck tractors sold for a combined US$346,000
• A 2012 Caterpillar D8T dozer sold for US$265,000
• A 2012 Caterpillar 980K wheel loader sold for US$180,000
• Two 2014 Kenworth T800 truck tractors sold for a  combined US$143,000

Auction quick facts: Fort Worth, TX (May 2016)

• Gross auction proceeds – US$46+ million
• Amount sold to online bidders – US$21+ million (45 percent)
• Total registered bidders (onsite and online) – 4,325 bidders from 56 countries
• Online registered bidders – 2,800+ (65 percent)
• Lots sold – 3,750+
• Sellers – 499

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 (rbauction.com/financing). Ritchie Bros. has operations in 19 countries, including 44 auction sites worldwide. Learn more at RitchieBros.com.

SOURCE Ritchie Bros. Auctioneers

Ian Malinski, Corporate Communications Lead, Ritchie Bros. Auctioneers, Phone: [phone], Email: [email protected]; For investor inquiries, please contact: Jamie Kokoska, Director, Investor Relations, Ritchie Bros. Auctioneers, Phone: [phone], Email: [email protected]