Off-site auctions provide owners with an easy and convenient way to sell their equipment
FREDERICK, MD, April 21 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE: RBA) (TSX: RBA), the world's largest industrial auctioneer, will sell 320 heavy equipment items and trucks during a one owner unreserved public equipment auction being held on Thursday, May 5 in Frederick, Maryland. The auction is a complete dispersal for Mt. Airy-based AccuBid Excavation, Inc., a heavy contractor specializing in site development. The auction is open to the public—anyone can bid in person at the site on auction day, online in real time at www.rbauction.com or by proxy (for people who aren't able to bid in person or online on auction day).
Ritchie Bros. conducts hundreds of unreserved public equipment auctions around the world each year, selling a broad range of used and unused equipment deployed in various industries including construction, transportation and agriculture, among others. The Company holds strictly unreserved auctions, which means there are no minimum bids and no reserve prices for the items being sold.
Tom Pank, President of AccuBid Excavation, Inc., is selling his equipment to focus on another business venture he launched and has operated for the past several years. Though he originally purchased approximately 10 percent of his current fleet at Ritchie Bros. auctions in the past, the Frederick auction on May 5 will be the first time he has ever sold his equipment with the Company.
"I've dealt with Ritchie Bros. for many years as a buyer and always had good experiences," said Mr. Pank. "When it came time to sell, I explored a few companies with different business models, but decided on Ritchie Bros. because they presented me with flexible contract options and were able to accommodate my needs, including conducting the auction right in my yard even when I thought they wouldn't. There was a definite ease of doing business with them."
The package of heavy equipment being sold for AccuBid Excavation includes an unused 2005 Komatsu BR550JG-1 44 X 24 inch jaw crusher, 40+ hydraulic excavators, 20 crawler loaders, 20+ crawler tractors, 15+ articulated dump trucks, 15+ pick ups, 10+ vibratory smooth drum rollers, motor scrapers and more.
Ritchie Bros. conducts hundreds of unreserved auctions at its 43 auction sites worldwide each year and also provides full auction services to equipment owners at temporary locations in regions where there is a demand. In 2010, off-site auctions—similar to the upcoming Frederick auction on May 5—accounted for approximately 25 percent of total industrial auctions conducted by Ritchie Bros.
"The ability of Ritchie Bros. to offer the full auction experience on-site in the customer's own yard and still attract bidders from around the world is very convenient and easy," said Kevin Kobus, Regional Manager, Ritchie Bros. Auctioneers. "It's just one of the many value-added services we provide which helps give our customers peace of mind when it comes to selling their equipment through us."
Frederick, Maryland auction details:
- Auction time and date: Thursday, May 5, 2011. Auction start time: 8:00 a.m.
- Location: AccuBid Excavation yard at 1010 Deer Hollow Drive, Mt. Airy, Maryland, 21771
- Auction site tel: +1.301.829.4080
- Directions to auction site: From Baltimore Beltway (I-695) take I-70 West to Exit 68 (Mt Airy RT 27 North) turn right. Proceed 1/10th mile to E. Ridgeville Blvd turn left. Proceed 6/10th mile (4th traffic light) to Rising Ridge Rd turn right. Proceed 1/10th mile to Auction site on the left.
- The auction is open to the public; registration to bid is free; a refundable bid deposit may be required
- How to register and bid:
- In person at the auction site
- Online at rbauction.com - register in advance and bid online in real time on auction day; a refundable bid deposit may be required; first-time bidders should register several days in advance of the auction
- By proxy - phone the auction site to place a proxy bid
- Interested buyers can come to the auction site to inspect, test and compare items for themselves from Saturday, April 30 (8:00 a.m. - 5:00 p.m.) straight through to auction day.
- Full auction and equipment details, specifications and photos are available at www.rbauction.com
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 43 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 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