Ritchie Bros. sells over US$53 million of industrial assets at Houston auction: Most items ever sold at a Ritchie Bros. auction in Texas

More than 4,700 items -- including a large selection of highway safety products previously owned by Highway Technologies -- were sold to the highest bidder, regardless of price, at this week's auction

HOUSTON, Aug. 30, 2013 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, sold more than US$53 million of heavy equipment, trucks and other industrial assets during a two-day unreserved public auction in Houston, Texas on August 28 & 29, 2013. The auction set new Company records for the most items ever sold at a Texas auction (4,700+) as well as the largest online gross auction proceeds at a Houston auction (more than US$21 million). Equipment highlights in the auction included 160+ T/A truck tractors, 70+ agricultural tractors, 60+ rough terrain cranes, a large selection of construction equipment and much 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 auction—our fourth Houston auction of 2013—featured one of the best selections of transport and heavy haul equipment we have ever sold here in Houston," said Alan McVicker, Regional Sales Manager, Ritchie Bros. Auctioneers. "We attracted buyers from around the world, which created a strong and competitive bidding environment. Interest peaked during the sale of a selection of unused Terex rock trucks as well as late-model rough terrain cranes. This week we broke records for the most items ever sold at a Texas auction and online gross auction proceeds for our Houston site. We continue to do this thanks to our ability to reach the global equipment industry from our convenient location near the Houston International Airport and the port of Houston, as well as our presence online, where local and international bidders participated live during the auction."

More than 3,700 people from 59 countries, including all 50 U.S. states, registered to bid in person or online in the auction. Bidders from outside Texas purchased more than US$25 million or 48 percent of total gross auction proceeds. More than 2,100 of the bidders taking part in the auction registered to bid online and purchased more than US$21 million of the equipment available online.

Equipment in the auction was sold on behalf of over 425 sellers, including south-central U.S. based Scott Equipment Company, an equipment, parts and service company offering agriculture, construction and industrial equipment services in Louisiana, Arkansas, Mississippi, Tennessee, and Texas since 1939. Scott Equipment consigned more than 120 heavy construction and agricultural equipment items to this week's auction, including a large selection of agricultural tractors, wheel loaders, crawler tractors and hydraulic excavators.

"We have been doing business with Ritchie Bros. since 2008, both buying and selling equipment, and we keep coming back to their auctions for how comfortable we feel with the integrity that surrounds the organization," said Jeremy Daniel, Vice President, Division Manager Used Equipment, Scott Equipment Company. "We are extremely happy with this week's auction results and with everything Ritchie Bros. did leading up to the sale, including all of the marketing and site preparation to help us sell our equipment. We saw particularly strong prices on the sale of our agricultural and smaller excavation equipment. Overall, we were pleased with the results and, as usual, with the full, professional service we receive from the Ritchie Bros. team at every auction."

Consignments for the next unreserved public auction in Houston (November 20 & 21, 2013) are now being accepted. To sell your equipment and trucks with Ritchie Bros., please contact the Houston site at +1.713.455.5200. The Ritchie Bros. auction calendar currently features more than 90 unreserved public auctions around the world. Visit www.rbauction.com for a complete list of upcoming auctions.

AUCTION QUICK FACTS: HOUSTON, TX - AUGUST 28 & 29, 2013

• Total Gross Auction Proceeds - US$53+ million
• Amount sold to online bidders - US$21+ million (a new Company record for Houston)
• Unique bidders (in-person and online total) - 3,700+
• Unique online bidders - 2,100+
• Total Lots sold - 4,700+ (a new Company record for Texas)
• Number of sellers - 425+

ASSETS FROM HIGHWAY TECHNOLOGIES FEATURED AT HOUSTON AND UPCOMING U.S. AUCTIONS

This week's Houston auction was also the first of 12 Ritchie Bros. auctions across the U.S. featuring highway safety products previously owned by Highway Technologies, the nation's largest traffic control company. More than 60,000 assets from this leading provider of highway safety services and products will be sold at Ritchie Bros. unreserved public auctions in:

Highway safety products being sold at the above locations include trucks (paint striping, thermo, attenuator, pickups, flatbeds), traffic signs (arrow boards, sign boards), paint (products, store inventory), and more.

Bidders must register for each auction separately in order to bid on the highway safety assets at each location. For complete details about the assets from Highway Technologies being sold at upcoming U.S. auctions, please visit www.rbauction.com/HwyTech.

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, agricultural, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. offers compelling solutions that make it easy for the world's builders to buy and sell equipment with confidence. The Company conducts hundreds of unreserved public auctions each year, selling more equipment to on-site and online bidders than any other company in the world (rbauction.com). The Company also operates an online marketplace through Ritchie Bros. EquipmentOne (EquipmentOne.com) and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauctionfinance.com). The Company has over 110 locations in more than 25 countries, including 44 auction sites worldwide.

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SOURCE Ritchie Bros. Auctioneers