Ritchie Bros. to conduct Las Vegas Grand Opening auction on May 4

New 33,000-square-foot auction building offers convenience and comfort for buyers and consignors from around the world

LAS VEGAS, May 2, 2012 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will celebrate the Grand Opening of its new auction facilities, including a new 33,000-square-foot auction building as well as an equipment refurbishing facility, this coming Friday, May 4, 2012. Company officials will be joined by local dignitaries, including members of Nevada Contractors Association — Las Vegas Associated General Contractors (NCA/AGC), who will cut the official grand opening ribbon during a mid-morning ceremony in the main auction theater. More than 1,100 heavy equipment items and trucks are currently featured in the Las Vegas Grand Opening auction—all items will be sold unreserved to the highest bidders on auction day, regardless of price.

"We are very proud to bring a larger, more comfortable and more 'cutting-edge' building to our customers here in Vegas," said Joe Byers, Regional Sales Manager, Ritchie Bros. Auctioneers. "Our new auction and check-in buildings will provide convenience for all our customers because of our large indoor auction theaters and great location along major traffic routes. And, as with all our auctions, we are open to the public so we invite everyone to come and check out the auction—we have a great selection of equipment."

The expanded 100±-acre site, with 76± acres currently developed, is conveniently located along I-15—approximately 20 minutes north of McCarran International Airport. The main auction building is made up of a registration area, a 500-seat main auction theater and a 300-seat Virtual Ramp theater.

"Ritchie Bros. has made a major investment in our community which is of great benefit to the industry here in Southern Nevada," said Sean Stewart, Executive Vice President of the NCA/AGC, which represents over 700 local general contractors, subcontractors, and suppliers. "The site improvements have made it so easy for contractors to buy and sell equipment locally without having to rely on outside markets."

A selection of late-model construction and transportation equipment items will be sold in this Friday's auction, including an assortment of 2013 unused Kenworth truck tractors as well as a selection of Caterpillar, Komatsu and Kenworth wheel loaders. Interested buyers can bid in person, online in real time at rbauction.com, or by proxy.

Las Vegas Grand Opening auction details:

• Location: Ritchie Bros. Auctioneers Las Vegas auction site at 10500 Clark Petersen Blvd., Las Vegas, NV 89165
• Las Vegas auction site tel: +1.702.644.2468
• Time and date: Friday, May 4, 2012 starting at 8:00 a.m. (local time)
• Ribbon cutting time: Friday, May 4, 2012 at approximately 11:00 a.m.
• Anyone can come to the auction site before auction day to inspect, test and compare items.
• Bids for the live auction can be made in person at the auction site, online in real time at rbauction.com or by proxy
• The auction is open to the public; registration to bid is free; a refundable bid deposit may be required
• More information, including detailed equipment information and high-resolution photos, is 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 44 auction sites worldwide. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.

ATTENTION MEDIA:

• The ribbon-cutting ceremony will be taking place in the main auction theater between 11:00 a.m. and 11:30 a.m. Photo opportunity available during the ceremony.
• High-resolution photos of the Ritchie Bros. Las Vegas auction site are available for your use at www.rbauction.com/media. Members of the public and the media can follow us on Twitter @RitchieBros

SOURCE Ritchie Bros. Auctioneers