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Thousands of bidders participate in Ritchie Bros. Fort Worth unreserved auction

05/11/2009

Thirty concrete pump trucks sold to buyers around the world.

FOR IMMEDIATE RELEASE: May 11, 2009

FORT WORTH, TX (May 11, 2009) – Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, conducted six unreserved industrial and agricultural auctions last week including a US$40 million unreserved auction on May 6-8, 2009 at its permanent auction site in Fort Worth, Texas. There were close to 3,000 unique registered bidders taking part in the auction, including over 1,100 online bidders who purchased US$12 million of the total gross auction proceeds.  More than 2,500 lots were sold over the three days to bidders participating from 34 countries around the world, and from 49 US states and all 10 Canadian provinces.

"We sold a great selection of large, late-model equipment at the auction, as well as a large number of concrete pump trucks," said Kieran Holm, Ritchie Bros. Area Manager. "We are selling 160 of these concrete pump trucks (previous assets of Pumpco Inc.) at five of our auctions throughout May and June and were pleased to see the international bidding taking part both at the site and over the internet. People were bidding on the pump trucks from all over the United States, and from Canada, Israel, the UAE and Saudi Arabia. Sixty percent of the equipment in the auction (based on gross auction proceeds) was sold to buyers from outside the state of Texas."

Smith Construction of Copperas Cove, Texas consigned 12 pieces of equipment from their equipment fleet of over 50 items. David Smith, company founder, said he sold well-maintained equipment, including rollers, truck tractors, motor scrapers and a motor grader in the Fort Worth auction.

"This was my second time selling equipment with Ritchie Bros. and it went really well," said Mr. Smith, who used to sell his equipment by putting a "for sale" sign on an item in his equipment yard. "I was happy with the prices we got. They were more than what I expected and more than I could have received by trying to sell the equipment myself. I'm not in the business of selling equipment, that's why I turned to Ritchie Bros. The hassles and aggravation and time spent trying to sell equipment myself is just not worth it and it can take months compared to a three-day Ritchie Bros. auction."

There are 86 unreserved public auctions currently on the Ritchie Bros. auction calendar, including next week's auctions: Chicago, IL (May 13, 2009); Montreal, QC (May 14-15, 2009); Sacramento, CA (May 14, 2009); and Pittsburgh, PA (May 14, 2009).

More concrete pump trucks will be sold at four upcoming auctions:

Orlando, Florida

  • 29 Concrete Pump Trucks
  • Time and Date: May 27-29, 2009
  • Auction Site Location: Corner I-4 & US Hwy 27 (700 Ritchie Road), Davenport, FL 33897
  • Sale Site Tel: +1.863.420.9919

Nashville, Tennessee

  • 26 Concrete Pump Trucks
  • Time and Date: June 9, 2009 (Tues); auction starts at 8:00 a.m.
  • Auction Site Location: 748 Leeville Rd., Lebanon, TN 37090
  • Sale Site Tel: +1.615.453.4549

Houston, Texas

  • 47 Concrete Pump Trucks
  • Time and Date: June 10-12, 2009
  • Auction Site Location: 15500 Eastex Freeway, Humble, TX 77396
  • Sale Site Tel: +1.713.455.5200

Atlanta, Georgia

  • 29 Concrete Pump Trucks
  • Time and Date: June 18-19, 2009
  • Auction Site Location: 4170 Hwy 154, Newnan, GA 30265
  • Sale Site Tel: +1.770.304.3355

Please visit www.rbauction.com for more details.

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 38 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 further information, please contact:
Kim Schulz, Corporate Communications Manager, Ritchie Bros. Auctioneers
Mobile: +1.604.788.5379 or email: kschulz@rbauction.com
Or
Kieran Holm, Area Manager, Ritchie Bros. Auctioneers
Fort Worth Sale Site Tel: +1.817.237.6544

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