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Thousands compete for used equipment in Ritchie Bros. Orlando auction

10/19/2009

Company is already accepting consignments for six-day auction in February 2010

ORLANDO, FL (October 19, 2009) – More than 2,100 people from 51 countries registered to bid on more than US$34 million of used heavy equipment and trucks sold by Ritchie Bros. Auctioneers (NYSE and TSX: RBA) at an unreserved public auction in Orlando, Florida last week. Ritchie Bros., the world’s largest industrial auctioneer, sold almost 2,700 items over two days (October 14 & 15, 2009), attracting on-site and online bidders from as far away as Japan, Australia and Saudi Arabia. More than half of the bidders registered to bid online in real time at www.rbauction.com. Bidders from outside the United States purchased more than US$14 million of equipment (42% of the total).

“We’re noticing a little more optimism in the U.S. construction market, but our local equipment sellers still rely on our international buying audience to drive the demand and keep prices strong at our auctions,” said Steve Kriebel, Ritchie Bros. Regional Manager. “We registered bidders from all over the world at our auction last week, including a large number of Central and South American buyers who were bidding in person at our Orlando auction site. Our online bidding service opens up the bidding audience and helps generate stronger returns for our sellers, but it’s clear that people still like to travel to our auction sites to kick the tires, inspect the equipment themselves, and bid on the equipment live and in person.”

Ritchie Bros. is already accepting consignments for the next unreserved public auction at its Orlando auction site: a six-day auction to be held from February 15 – 20, 2010. Ritchie Bros. hosted the world’s largest industrial auction at this site in February 2008, selling US$190 million of equipment over five days and attracting more than 6,000 bidders from 71 countries. Find out more at www.rbauction.com.

About Ritchie Bros.
Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: 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 39 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.

Investors and potential investors should note that this information may not be indicative of the overall financial performance of the Company for this or any period.

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For more information contact:
Kim Schulz, Manager, Corporate Communications, Ritchie Bros. Auctioneers
Office: +1.778.331.5442 or Mobile: +1.604.788.5379 or email: kschulz@rbauction.com
Or
Steve Kriebel, Regional Manager, Ritchie Bros. Auctioneers
Orlando auction site tel: +1.863.420.9919

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