Ritchie Bros. sells more than US$40 million of equipment at Fort Worth, TX auction

More than 3,400 equipment items and trucks were sold in the two day unreserved public auction on September 25 - 26, 2012

FORT WORTH, TX, Sept. 27, 2012 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, sold more than US$40 million of equipment items and trucks at an unreserved public auction in Fort Worth, Texas on September 25 - 26, 2012. More than 3,400 equipment items and trucks were sold in the auction—with each and every item being sold to the highest bidder, regardless of price—without minimum bids or reserve prices. Bids in the auction were made in person at the auction site, online at www.rbauction.com or by proxy.

"More than 2,950 bidders from 58 countries participated in our Fort Worth auction this week," said Adam Kawulok, Regional Sales Manager, Ritchie Bros. Auctioneers. "Out-of-state buyers purchased close to US$23 million worth of equipment, from as far away as Australia, Colombia, Malaysia and The Netherlands. Ritchie Bros. attracts larger bidding audiences. Our ability to attract bidders from across the country and around the world is what allows us to provide our sellers true global market value for their equipment on auction day—it's something we take great pride in."

Equipment highlights in the two-day Fort Worth auction included 82 hydraulic excavators, 58 wheel loaders, 57 crawler tractors, 24 motor graders, 163 truck tractors and more—every single piece was sold to a new owner by the end of the auction. Equipment was sold for more than 400 consignors, including a selection of late model truck tractors and trailers sold for X 1 Energy Services LLC, a Henderson, TX-based oilfield service company.

"I am very happy—almost everything I sold went for 15 to 20 percent more than I thought it would," said Pete Kirkland, owner of X 1 Energy Services LLC. "I have bought with Ritchie Bros. a bunch in the past, but this is the first time I have ever sold and I was very impressed with how Ritchie Bros. marketed all my equipment—they did a great job with all the photos they took and the way the equipment was lined up in the yard. I also think it's excellent that Ritchie Bros. sells all equipment unreserved—it brings in a better buyer market since people know they aren't bidding against the owners of the equipment."

AUCTION QUICK FACTS: FORT WORTH, TX - SEPTEMBER 25 & 26, 2012

• Gross Auction Proceeds - US$40+ million
• Amount sold to online bidders - US$15+ million (38 percent)
• Unique bidders (total) - 2,950+
• Unique online bidders - 1,750+ (60 percent)
• Lots sold - 3,400+
• Number of sellers - 400+

Consignments for the next Fort Worth auction on December 4 & 5, 2012 are now being accepted—to sell your equipment and/or trucks, please contact: +1.817.237.6544. The Ritchie Bros. auction calendar currently features more than 85 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 at http://www.rbauction.com/media. Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros.

SOURCE Ritchie Bros. Auctioneers