Ritchie Bros. sells US$42+ million of equipment and trucks at unreserved auction in Dubai, UAE

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Sep 10, 2015, 07:00 ET

Two-day unreserved public auction sets new Dubai site record for number of bidders

DUBAI, UNITED ARAB EMIRATES, Sept. 10, 2015 /PRNewswire/ - Ritchie Bros. (NYSE and TSX: RBA), the world's largest industrial auctioneer, sold US$42+ million of equipment and trucks at its unreserved public auction in Dubai, UAE on September 8 – 9, 2015. The two-day auction set new Dubai site records for total number of bidders (920+) and number of online bidders (400+). More than 2,600 equipment items were sold in the auction including 100+ excavators, 85+ compactors, 85+ telescopic forklifts, 80+ wheel loaders, 65+ cranes, 40+ loader backhoes, 85+ dump trucks, 55+ truck tractors and more.

"The massive selection of equipment in this week's Dubai auction attracted a record crowd of on-site and online bidders from 60 countries," said Eduard Faig, Regional Sales Manager, Ritchie Bros. Auctioneers. "We sold items for more than 200 equipment owners from the Middle East and beyond. Particular strong performers in the auction were cranes, telescopic forklifts and backhoes. We already have a huge selection of construction equipment and trucks consigned to our next Dubai auction, in December. Anyone interested in selling before the end of the year should contact us in the coming weeks."

Bids were made in the auction in person, online at rbauction.com and by proxy. Buyers from outside Dubai purchased approximately US$19 million (45%) of equipment and trucks, with equipment sold to buyers from as far away as Australia, Mexico, and the United Kingdom. Online bidders purchased approximately US$5+ million (12%) of equipment.

Specific sales highlights:

A 2009 Tadano GR-700EX 70 ton rough terrain crane sold for U$325,000
Two 2011 JCB 550-170 telescopic forklifts sold for a combined U$170,000
A 2011 Euro Tech 5MZ3000T concrete batch plant sold for U$110,000

AUCTION QUICK FACTS: DUBAI, UAE – SEPTEMBER 8 – 9, 2015

Total Gross Auction Proceeds – US$42+ million
Amount sold to online bidders – US$5+ million
Total registered bidders (onsite and online) – 920+
Unique registered online bidders – 400+
Number of lots sold – 2,600+
Number of sellers – 200+

There are more than 90 upcoming auctions on the Ritchie Bros. calendar at rbauction.com. The Company's next Dubai auction will be held on December 15 -16, 2015. To consign your equipment and/or trucks in the next Dubai auction, contact the site directly at +971.481.20600.

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 (rbauction.com/financing). Ritchie Bros. has operations in 19 countries, including 44 auction sites worldwide. Learn more at RitchieBros.com.

Photos for media are available at rbauction.com/media.

SOURCE Ritchie Bros. Auctioneers