Ritchie Bros. sells more than US$49 million of equipment in Fort Worth, TX

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Jul 25, 2014, 07:00 ET

Close to 3,300 heavy equipment items and trucks were sold in the two-day unreserved public auction

FORT WORTH, TX, July 25, 2014 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, sold more than US$49 million of equipment items and trucks at its unreserved public auction in Fort Worth, Texas on July 23 - 24, 2014. Equipment sale highlights included a 2012 Caterpillar D6T XW crawler tractor, which sold for US$295,000; three 2012 Kenworth T800 sleeper truck tractors that sold for US$102,000 each; and three 2012 Kenworth T800 sleeper truck tractors that sold for US$100,000 each. Bids were made in person at the auction site, online at rbauction.com and by proxy.

"We had another two great days of strong prices with a line-up of equipment from many first-time sellers," said Adam Kawulok, Regional Sales Manager, Ritchie Bros. Auctioneers. "Over the road and vocational trucks performed particularly well. Our permanent auction site in Fort Worth is quickly becoming a marketplace for not just construction and energy assets but also for late-model, well-maintained transportation equipment. I encourage any interested sellers who want to reach the global marketplace to call our Fort Worth site and find out about our next auction."

More than 3,600 people from 57 countries, including 48 U.S. states registered to bid in the auction. Bidders from outside Texas purchased more than US$27 million (56 percent of total gross auction proceeds). Online bidders purchased more than US$19 million (40 percent of total gross auction proceeds).

Equipment in the auction came from 450 sellers, including a selection of specialized environmental equipment from Castor, Louisiana based Red Oak Timber Company, LLC. The Company's owner, Sam Pullig, has been part of the timber industry since 1968 and has branched out into property development as well as oil and gas in recent years. Sam has been attending Ritchie Bros. unreserved auctions for close to 20 years, where he has bought and sold heavy equipment from multiple industries.

"I am very pleased with our results from this week's auction, especially since this was our biggest sale with Ritchie Bros. yet," Sam said. "Our equipment was very specialized as it included a selection of environmental equipment, de-limbers, skidders and log loaders, so we needed a way to reach large and diverse audiences from every industry and all around the world. This week we saw bids come in from many places, including Tennessee, Mississippi and even overseas. The possibility of reaching everyone in the world is the main reason I sell with Ritchie Bros. and I would recommend other equipment owners consider them, no matter the size of your fleet."

AUCTION QUICK FACTS: FORT WORTH, TX - JULY 23 - 24, 2014

Total Gross Auction Proceeds - more than US$49 million
Amount sold to online bidders - more than US$19 million (40 percent of total gross auction proceeds)
Total number of registered bidders - more than 3,600
Unique online bidders - close to 2,300
Number of lots sold - close to 3,300
Number of sellers - 450

The Ritchie Bros. auction calendar currently features more than 68 unreserved public auctions around the world, including a two-day unreserved public auction in Houston, TX on August 27 - 28, 2014 as well as the next Fort Worth, TX auction scheduled for September 24 - 25, 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