Ritchie Bros. to conduct fundraising auction during Las Vegas World of Concrete event

LAS VEGAS, NV, Feb. 1, 2013 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will sell more than 50 items generously donated by various members of the concrete industry at an upcoming unreserved fundraising auction, all proceeds to benefit Concrete Industry Management (CIM) programs. The auction takes place on Wednesday, February 6 at 1:00 p.m. in the north hall of the Las Vegas Convention Center (N262), and is a part of the four-day World of Concrete event. On auction day, all items will be sold to the highest bidders—there are no minimum bids or reserve prices. Bidders can participate in the auction in-person, online in real time at www.rbauction.com or by proxy.

"All of the funds raised at this charity auction will greatly benefit the future leaders of the concrete industry," said Mike Johnston, Senior Vice President, Sales, Ritchie Bros. Auctioneers. "World of Concrete and the CIM fundraising auction are great events that we and our customers look forward to every year. To save our customers time and money we always try to schedule our first Las Vegas equipment auction around these annual events. Our bidders have the benefit of tying two trips into one and our equipment consignors benefit from the larger, more diverse crowd of potential buyers attending our equipment auction."

The purpose of the Concrete Industry Management (CIM) Program is to produce graduates grounded in the basics of concrete's production techniques and its use in a multitude of construction applications. All proceeds from the 2013 CIM Auction will benefit the CIM National Steering Committee (NSC) and support the current CIM programs, the new Executive MBA program, as well as help fund future program expansion.

Some of the donated auction items include:

• 2012 Mack Granite Ready Mix Truck
• Los Angeles sports weekend getaway (Lakers and Clippers tickets included)
• Ten truck-loads of Portland cement
• Chicago sports weekend getaway (Bulls and Blackhawks tickets included)
• New York vacation, including Yankees and Broadway tickets
• Indianapolis 500 Motor Speedway experience
• Sawgrass golf and beach holiday
• Texas golf and relaxation package

For detailed item information, photos and more information about the CIM auction, visit http://www.rbauction.com/heavy-equipment-auctions/cim-fundraising-auction . The Ritchie Bros. auction calendar currently features more than 100 unreserved public auctions around the world. Visit www.rbauction.com for a complete list of upcoming auctions.

In addition to the CIM fundraising event, Ritchie Bros. will be conducting an unreserved public auction at its permanent auction site in Las Vegas, Nevada on February 8, 2013. More than 1,000 heavy equipment items and trucks are already featured in this auction - with new items being added daily. The auction also includes a great selection of specialized concrete paving equipment. For detailed equipment information, photos and more information about the Las Vegas auction, visit http://www.rbauction.com/heavy-equipment-auctions/las-vegas-nv.

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.

SOURCE Ritchie Bros. Auctioneers