Demand for heavy equipment and trucks remains strong at latest CA$53 million Ritchie Bros. unreserved public auction in Edmonton, Alberta

Bidders from across Canada and around the world register to bid on 4,600 heavy equipment and transportation items during the September 5 & 6 Edmonton, AB auction

EDMONTON, Sept. 7, 2012 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, sold more than CA$53 million (close to US$54 million) of heavy equipment items during a two-day unreserved public auction at the Company's site in Edmonton, Alberta on Wednesday & Thursday, September 5 & 6, 2012. Almost 5,000 registered bidders competed for 4,600 heavy equipment items and trucks, including a selection of more than 120 T/A truck tractors, more than 75 hydraulic excavators, a selection of late model rough terrain cranes and more. Every item was sold to the highest bidder, regardless of price—without minimum bids or reserve prices. Bids were made in the auction on-site, online in real time at www.rbauction.com or by proxy.

"This is our fourth auction in Edmonton this year and bidders continue to register in the thousands, prices remain strong and we continue to cultivate a competitive bidding environment for both our buyers and sellers," said Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers. "We had strong prices across all equipment categories. With two more Edmonton auctions remaining in 2012, heavy equipment owners will have plenty of opportunity to buy and sell equipment at strong, competitive market values."

Almost 5,000 people from 37 countries, including all Canadian provinces and two territories registered to bid in person or online in the auction. Bidders from outside Alberta purchased more than CA$16 million (US$16 million) or 30 percent of total gross auction proceeds. More than 2,500 of the bidders taking part in the auction registered to bid online and purchased more than CA$17 million (US$18 million) of equipment available online.

The auction featured equipment from more than 760 sellers who operate mainly in the southern Alberta region. One of these sellers is Calgary-based Contour Earthmoving Ltd., a full service earthworks contractor that offers a wide-range of services, including site preparation, subdivision and golf course development, road building, highway earthworks and more. Contour sold a selection of late-model transportation equipment in this week's Edmonton auction.

"The auction went exceptionally well; we achieved better results than expected. In particular, we noticed strong competition for the trailers, which included 2008, 2010 and 2013 models," said Bernard Burchill, Co-founder and Vice President, Contour Earthmoving Ltd. "Overall, Ritchie Bros. handled the entire process for the sale of our items in a very professional manner. We've been buying and selling equipment at Ritchie Bros. auctions for close to 20 years and what ultimately keeps us coming back to sell our equipment in the auctions is the exposure; we're able to reach buyers from around the world at every Ritchie Bros. auction we participate in."

AUCTION QUICK FACTS: EDMONTON, AB - SEPTEMBER 5 & 6, 2012

• Gross Auction Proceeds - CA$53+ million (close to US$54 million)
• Amount sold to online bidders - CA$17+ million (US$18+ million)
• Unique bidders (total) - 4,997
• Unique online bidders - 2,500+ (51 percent)
• Lots sold - 4,600+
• Number of sellers - 760+

Consignments for the next Edmonton auction (October 24 & 25, 2012) are now being accepted. To sell your equipment and trucks with Ritchie Bros., please contact the Edmonton site at +1.780.955.2486. The Ritchie Bros. auction calendar currently features 92 unreserved public auctions around the world. Visit www.rbauction.com for a complete list of upcoming auctions.

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. Ritchie Bros. offers services that enable the world's builders to easily and confidently exchange equipment. The Company conducts hundreds of unreserved public auctions each year, selling a broad range of used and unused equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. Ritchie Bros. has over 110 locations in more than 25 countries, including 44 auction sites worldwide. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.

ATTENTION MEDIA: Photos and other media resources are available for use at http://www.rbauction.com/media.
Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros.

SOURCE Ritchie Bros. Auctioneers