CIM program expansion to benefit from Las Vegas auction

LAS VEGAS, Dec. 3 /PRNewswire-FirstCall/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest auctioneer of industrial equipment, will be conducting the World of Concrete benefit auction in Las Vegas, Nevada on Thursday, February 4, 2010 starting at 1:00 p.m. All proceeds support the Concrete Industry Management (CIM) post-secondary education program, developed by its National Steering Committee (NSC). Ritchie Bros. will waive its internet purchase fee for this benefit auction. Interested buyers can bid in person at World of Concrete or online at www.rbauction.com.

The CIM benefit auction features a wide range of donated items, including equipment, cement and sports packages. Like every Ritchie Bros. auction, the CIM auction will be unreserved, which means there are no minimum bids or reserve prices. Every item will be sold to the highest bidder on February 4, regardless of price.

Last year's CIM benefit auction attracted more than 200 bidders and raised approximately US$300,000 for CIM program expansion.

    CIM benefit auction details:

    -   Location: Room N262, Las Vegas Convention Center, 3150 Paradise Rd,
        Las Vegas, NV (on-site at World of Concrete).
    -   Date: Thursday, February 4, 2010. Auction start time: 1:00 p.m.
        Registration opens at 11:00 a.m.
    -   Interested buyers can register to bid in person, in real time over
        the internet or by proxy. Registration is free.
    -   From 11:00 a.m. onwards, registration will be in Room N262 only.
        Photo ID is required.
    -   Internet bidders must register online at www.rbauction.com. First-
        time internet bidders are advised to register online 2-3 business
        days before the auction. Ritchie Bros. will waive its internet
        purchase fee for this auction only.
    -   Full details about the items in the auction, including photos, are
        available at www.rbauction.com.
    -   All proceeds from the benefit auction go to support the post-
        secondary educational programs developed by the National Steering
        Committee (NSC) for Concrete Industry Management (CIM).

The following day, Ritchie Bros. will sell hundreds of equipment items for the construction, transportation and other industries during a one-day unreserved public auction at its Las Vegas auction site on Friday, February 5. For more information, visit 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.

SOURCE Ritchie Bros. Auctioneers

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