Record-breaking Atlanta and Australia auctions just two highlights of busy auction week VANCOUVER, June 30
VANCOUVER, June 30 /PRNewswire-FirstCall/ - Equipment buyers and sellers
demonstrated their ongoing preference for Ritchie Bros. Auctioneers' (NYSE and
TSX: RBA) full service unreserved industrial auctions last week, helping the
Company set a number of new records - including the largest Atlanta and
Australia auctions in Company history, as well as the highest total sales and
total internet sales in one week.
Ritchie Bros. (www.rbauction.com), the world's largest industrial
auctioneer, conducted 13 industrial and four agricultural unreserved public
auctions last week, generating total gross auction proceeds in excess of
US$268 million. Among the auction highlights: a US$60 million auction in
Atlanta, Georgia (on June 26 & 27, 2008); a US$26 million auction in Denver,
Colorado (on June 26 & 27); and a US$25 million auction in North East,
Maryland (on June 25 & 26). On June 27, Ritchie Bros. conducted a Grand
Opening auction at its new permanent auction site in Saint Aubin sur Gaillon,
west of Paris, France.
Ritchie Bros. set a number of new Company records during the week,
including:
- Highest total sales in one week (US$268 million total gross
auction proceeds)
- Highest total internet sales in one week (US$52 million in total
online gross auction proceeds)
- Largest Atlanta, Georgia auction in Company history (US$60 million
in gross auction proceeds)
- Largest Australian auction in Company history (AU$55 million, or
US$52 million, in gross auction proceeds, as previously announced)
- Most industrial auctions conducted in one week (13)
"We've been conducting unreserved public auctions for 50 years - and every
year we sell more equipment for more people around the world," said Peter
Blake, Ritchie Bros. CEO. "Our business model offers a high level of value for
both buyers and sellers alike, which is one of the primary reasons why we
continue to grow, set records and maintain our position as the world's largest
industrial auctioneer. We offer buyers a large selection of equipment to
choose from, the ability to test and inspect items in person, convenient
bidding options and the comfort of knowing that every item will be sold on
auction day, with no minimums or reserves. That's how we attract hundreds,
even thousands of bidders from all over the world to each auction, helping
sellers transcend local market conditions and sell their equipment for its
global market value."
ATLANTA, GEORGIA - Ritchie Bros. conducted the largest Atlanta, Georgia
auction in Company history on June 26 & 27, selling more than 2,000 equipment
items for almost US$60 million in gross auction proceeds - almost twice the
size of its largest Georgia auction to date. The unreserved public auction
attracted almost 1,900 registered bidders - a new site record - with
participants coming from 44 U.S. states and 36 other countries. Out-of-state
bidders purchased more than US$50 million of equipment, including US$9 million
of equipment that was sold to buyers from outside the U.S., including
Australia, Saudi Arabia and Mexico.
The auction featured a complete dispersal for Paramont Grading and
included a large selection of late model construction and transportation
equipment, attracting a large crowd to the auction site (over 1,100 people
registered to bid in person). Another 750 people registered to bid in real
time over the internet, purchasing more than US$16 million of equipment and
setting new site records for internet participation and sales. Active bidding
from the large global audience of interested buyers, both on-site and online,
helped keep prices strong.
DENVER, COLORADO - Ritchie Bros. attracted more than 2,000 registered
bidders from 24 countries to its unreserved public auction in Denver, Colorado
on June 26 & 27. Most people (70 percent) registered to bid in person at the
auction site; the other 30 percent registered to bid over the internet. Almost
1,800 equipment items were sold over two days, generating nearly US$26 million
in gross auction proceeds. Out-of-state buyers purchased nearly US$15 million
of equipment, including almost US$4 million of equipment that was sold to
out-of-country buyers from as far away as Japan, Egypt and the U.K.
NORTH EAST, MARYLAND - Out-of-state buyers purchased more than 75 percent
of the equipment in the June 25 & 26 auction at Ritchie Bros.' permanent
auction site in North East, Maryland. The unreserved public auction featured
more than 2,000 equipment items, attracting almost 1,800 registered bidders
from 33 countries - including on-site buyers from as far away as Nigeria,
Poland and Bolivia. Almost 1,200 people registered to bid on-site; the other
600 registered to bid in real time over the internet. Ritchie Bros. sold a
wide variety of construction, transportation, lifting, asphalt, aggregate,
agriculture and other equipment in the US$25 million auction.
About Ritchie Bros.
Established in 1958, Ritchie Bros. is the world's largest auctioneer of
industrial equipment, operating through over 110 locations in more than 25
countries around the world. The Company 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, material handling, mining, forestry, petroleum, marine, real
estate, and agricultural industries. The Company maintains a web site at
www.rbauction.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.
CONTACT: Kim Schulz, Corporate Communications Manager, Ritchie Bros.
Auctioneers, Mobile: (604) 788-5379 or email: kschulz@rbauction.com; Or Steve
Kriebel, Regional Manager, Ritchie Bros. Auctioneers, North East auction site,
tel: (410) 287-4330; Or Darrin Hogeboom, Regional Manager, Ritchie Bros.
Auctioneers, Atlanta auction site, tel: (770) 304-3355; Or Steve Merich,
Regional Manager, Ritchie Bros. Auctioneers, Denver auction site, tel: (970)
535-6700
SOURCE Ritchie Bros. Auctioneers
