Ritchie Bros. to conduct its first unreserved auction in Portland, OR in 20 years on April 6

Three days later Ritchie Bros. will conduct its first auction in Klamath Falls, OR in more than 30 years

PORTLAND, OR, March 23 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, is conducting its first unreserved public equipment auction in Portland, OR in nearly 20 years on Wednesday, April 6, 2011 at a temporary site located at 2747 NW Rogers Circle in Troutdale, OR. The Company holds strictly unreserved auctions, which means there are no minimum bids and no reserve prices for the items being sold. The auction, open to the public, features 700+ equipment items and trucks from multiple owners, including a complete dispersal for C&M Construction Inc., an Oregon-based heavy construction contractor. Anyone can bid in person at the site on auction day, online in real time at www.rbauction.com or by proxy.

Ritchie Bros. currently operates 43 auction sites worldwide, selling used and unused equipment for the construction, transportation and agricultural industries, among others. In 2010 the Company conducted 332 auctions that generated US$3.3 billion in gross auction proceeds globally. The Company also provides full auction services at temporary locations in regions where there is a demand.

"We're excited to be returning to Portland for our first auction here in more than 20 years," said Brad Maas, Area Manager, Ritchie Bros. Auctioneers. "We're also very proud we have the opportunity to conduct a complete dispersal for a company like C&M Construction, which has a great reputation throughout the state of Oregon and abroad. Everyone is welcome to come inspect the equipment, kick the tires, register to bid and leave the auction at the end of the day with a new piece of equipment—it's that easy."

The April 6 Portland auction features more than 700 equipment items and trucks, including 26 hydraulic excavators, 13 mini excavators, 14 crawler tractors, 18 wheel loaders, 12 loader backhoes, 10 articulated dump trucks, 16 truck tractors, as well a large selection of trailers (end dump, side dump, bottom dump, chip, van, tank and equipment) and other items. Close to 400 of the items and trucks are being sold as part of the complete dispersal for C&M Construction Inc.

"We have been in the heavy construction and pipe installation business, serving communities throughout Oregon, Washington and Idaho, for more than 35 years," said Connie Sproul, Owner and President of C&M Construction, Inc. "Ritchie Bros. has sold equipment for us in the past and we've always been impressed with their ability to market our equipment to the world and get us great results. So, when it came time to retire we returned to Ritchie Bros."

Three days after the Portland auction, on Saturday, April 9, the Company will conduct another unreserved public auction in Klamath Falls, OR—the first in the city in 30+ years. The only other auction conducted by Ritchie Bros. in Klamath Falls was held on September 16, 1977 and featured 500+ items.

The April 9 Klamath Falls auction features a large selection of agricultural equipment, including agricultural tractors, combines, headers, balers, swathers and cultivators as part of a complete dispersal for the local business of Pat Nord Farm & Hay—retiring after 12 years in business—as well as other owners.

Consignments for both auctions are still being accepted; anyone interested in selling equipment in the auctions can contact Ritchie Bros. at +1.360.956.1500. Items will continue to be added to both auctions daily right through to sale day. More information, including equipment photos and auction details, is available at www.rbauction.com.

Auction Details

Portland auction details:

• Time and date: Wednesday, April 6, 2011; auction begins at 8:00 a.m.
• Location: 2747 NW Rogers Circle, Troutdale, OR, 97060
• Phone: +1.360.956.1500

Klamath Falls auction details:

• Time and date: Saturday, April 9, 2011; auction begins at 8:00 a.m.
• Location: 7200 S. Sixth Street, Klamath Falls, OR, 97603
• Phone: +1.360.956.1500

General auction details:

• 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 one week prior to the auction to inspect, test and compare items for themselves from Monday to Friday, 8:00 a.m. - 5:00 p.m.

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