Ritchie Bros. to conduct public equipment auction in South Bend, IN on October 26

325+ items will be sold on auction day - including a complete dispersal of 265+ items for Michigan-based Oselka Construction

SOUTH BEND, IN, Oct. 13 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will conduct a public unreserved auction in South Bend, Indiana on Tuesday, October 26, 2010 starting at 9:00 a.m. (local time).This public auction features 325+ equipment items and trucks, including a complete dispersal of 265+ items for Oselka Construction, an excavating contractor based in Union Pier, Michigan. Bids can be made in person at the auction site, online in real time at www.rbauction.com or by proxy.

Since 1990 Ritchie Bros. has conducted 11 unreserved public auctions in the state of Indiana. The Company's last unreserved auction in Indiana was conducted in Indianapolis on September 10, 2010. More than 835 registered bidders from the US, Canada, Mexico, and as far away as Australia, the United Arab Emirates, India, the United Kingdom, Japan, Peru and New Zealand, competed for the 760+ items sold in the September 10 auction. More than 70 percent of the equipment sold in the auction left the state of Indiana.

"Our latest Indianapolis auction featured equipment that attracted strong interest from local and global bidders—we had more bidders than lots sold," said Kieran Holm, Regional Manager, Ritchie Bros. Auctioneers. "The auction in South Bend will be another good opportunity for local and global buyers to find the equipment they need. As with all of our unreserved auctions, every item is sold on auction day to the highest bidder with no minimums bids or reserve prices."  

The complete dispersal package of 265+ items from Oselka Construction includes a 2004 Wirtgen W2000 crawler asphalt pavement profiler and a 2003 John Deere 800C hydraulic excavator, as well as wheel loaders, skid steer loaders, trenchers, articulated dump trucks, truck tractors and utility trucks and trailers. More information, including full equipment details and photos, is available at www.rbauction.com.

Equipment consignments are still being accepted; owners interested in selling equipment in the October 26 auction can contact the South Bend auction site +1.574.252.5439 to discuss their options.

South Bend auction details:

• Location: 55807 Current Rd., Mishawaka, IN, 46545
• Auction site tel: +1.574.252.5439
• Date & time: Tuesday, October 26, 2010 at 9:00 a.m. (local time)
• How to register and bid:
• In person at the auction site - first-time bidders from the U.S and Canada must place a refundable $1,000 bid deposit when they register on-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
• More information, including equipment details and 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. The Company has over 110 locations in more than 25 countries, including 42 auction sites worldwide. Ritchie Bros. sells, through unreserved public auctions, a broad range of used and unused industrial assets, including equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. 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