Ritchie Bros. returns to Spokane for another unreserved auction this year

Company hires new Territory Manager to work one-on-one with customers in the region

SPOKANE, WA, Oct. 28 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, is heading back to Spokane, WA on November 16, 2010 for its second public unreserved auction this year. More than 120 construction and agricultural items will be sold on auction day at a temporary site located at 8600 West Geiger Blvd. Equipment is being added to the auction daily and consignments are still being accepted. More information, including equipment details and photos, is available at www.rbauction.com.

On May 5 of this year, Ritchie Bros. held a multi-million dollar equipment auction in Spokane—its first there in nearly 20 years. More than 950 people registered online and in person to compete for the 600 items sold in the auction. Bidders came from 20 countries, including 35 US states and nine Canadian provinces. More than 65 percent of the equipment was sold to out-of-state buyers from across the US and Canada, and as far away as the United Arab Emirates, Hong Kong, Mexico, Peru, Saudi Arabia and Thailand.

"We had a fantastic turnout of people at our May auction and the bidding was active at the site and online on auction day," said Rob Giroux, Regional Manager, Ritchie Bros. Auctioneers. "Given the warm reception and support from the local community and from customers in the region, we're pleased to come back so soon and conduct another auction. We've also just recently hired a new Territory Manager named Justin Dawe to work with customers in central and eastern Washington as well as the 'panhandle' region of Idaho on a permanent basis."

The November 16 unreserved auction in Spokane will feature equipment items from multiple consignors, including a complete dispersal of more than 60 equipment items for Owens Construction, a general contractor based in Coeur d'Alene, Idaho. Their package of equipment includes a 2006 Caterpillar 930G wheel loader, a 1999 Caterpillar 140H VHP motor grader, a 2007 Caterpillar 330DL hydraulic excavator, 2007 Caterpillar D320 CL hydraulic excavator and utility and dump trucks.

A selection of tractors will also be sold in the auction, including late model MFWD McCormick agricultural tractors. Other equipment in the auction includes rock trucks, additional hydraulic excavators, crawler tractors and much more. Every item will be sold to highest bidder on auction day—regardless of price—with no minimum bids or reserve prices.

Owners interested in selling their equipment in the November 16 auction can contact the Spokane auction site at +1.208.705.3026 to make the necessary arrangements.

Auction details:

• Location: 8600 West Geiger Blvd., Spokane WA, 99224
• Spokane auction site tel: +1.208.705.3026 or Justin Dawe, Territory Manager, Ritchie Bros. Auctioneers at +1.509.385.7961
• Date & time: Tuesday, November 16, 2010 at 8:00 a.m. (local time)
  
• Unreserved auction is open to the public; registration to bid is free
  
• How to register and bid:
  
• In person at the auction site - first-time bidders from the U.S and Canada must place a refundable $1,000 bid deposit when they register on-site
  
• Online at rbauction.com - register in advance and bid online in real time on auction day; a refundable bid deposit may be required; first-time bidders should register several days in advance of the auction
  
• By proxy - phone the auction site to place a proxy bid
  
• Interested buyers can come to the auction site to inspect, test and compare items

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 42 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.

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