Ritchie Bros. sells CA$109+ million of equipment in Edmonton, AB October auction

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Oct 31, 2014, 07:00 ET

Three-day unreserved auction sets new Company record for most items sold at an auction in Canada

EDMONTON, Oct. 31, 2014 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, sold more than CA$109 million (US$98+ million) of heavy equipment and trucks in Edmonton, Alberta on October 28 – 30, 2014. The unreserved public auction set new records for most items ever sold in a Canadian auction (close to 6,700) and most gross auction proceeds generated by an auction held in Canada in October.

"With companies turning over or upgrading their fleets for the winter season, our October auction is traditionally our second-largest sale of the year," said Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers. "This year we're on track to sell more equipment in Edmonton than ever before. We've sold more than 28,200 equipment items and trucks in five auctions and we still have one more sale in December. With our final Edmonton sale only six weeks away we are already accepting consignments."

More than 7,600 bidders from 54 countries, including all Canadian provinces and territories, as well as 45 U.S. states, registered to bid in person or online for the auction. More than CA$70 million (US$62+ million) of equipment and trucks was purchased by Alberta buyers, while participants from outside the province purchased CA$39+ million (US$35+ million) for 36 percent of total gross auction proceeds. Close to 4,800 of the bidders in the auction participated online and purchased CA$57+ million (US$51+ million) of equipment.

Equipment in the auction was sold for 870+ sellers, including late-model truck tractors and tank trailers for AC Dow Trucking Ltd., a Lloydminster, AB-based fluid transportation company getting out of the business after 36 years.

"I've purchased items at Ritchie Bros. over the past 15 years, but this was the first time I've ever sold with them and I'm pleased with the results," said Barry Dow, President of AC Dow Trucking Ltd. "There was a large crowd at the auction this week and bidders were very active, especially on the trucks. Ritchie Bros. does a great job of advertising and their team always provides excellent service."

The October auction featured 150 truck tractors, 115+ excavators, 85+ crawler tractors, 40+ wheel loaders, 35+ articulated dump trucks, 20+ agricultural tractors and more.

AUCTION QUICK FACTS: EDMONTON, ALBERTA – OCTOBER 28 – 30, 2014

Total Gross Auction Proceeds – CA$109+ million (US$98+ million) *new Canadian record for month of October
Amount sold to online bidders – CA$57+ million (US$51+ million)
Total registered bidders (onsite and online total) – 7,600+
Unique registered online bidders – Close to 4,800
Total number of buyers – 2,400+
Total number of online buyers – 1,500+
Number of lots sold – Close to 6,700 *new Canadian record
Number of sellers – 870+

The Ritchie Bros. auction calendar currently features more than 90 unreserved public auctions around the world, including the Company's next unreserved public auction in Edmonton, Alberta, which is scheduled to take place December 11 – 12, 2014. Visit www.rbauction.com for a complete list of upcoming auctions.

About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros.^TM solutions make it easy for the world's builders to buy and sell equipment with confidence, including live unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOne^TM secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauctionfinance.com). Ritchie Bros. has operations in more than 25 countries, including 44 auction sites worldwide. Learn more at RitchieBros.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