Ritchie Bros. to sell heavy equipment for Nevada's Q&D Construction in unreserved Reno public auction

Jun 01, 2010, 09:00 ET from Ritchie Bros. Auctioneers

A 2005 Caterpillar 988G wheel loader - the only one in the Company's current auction inventory - to be sold this Friday in Reno

RENO, NV, June 1 /PRNewswire-FirstCall/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will conduct a multi-million dollar unreserved public equipment auction in Sparks (near Reno), Nevada this Friday, June 4, 2010. More than 450 items will be sold, including a 2005 Caterpillar 988G wheel loader and a large selection of heavy equipment and trucks for Q & D Construction, a Northern Nevada-based general contractor with over 40 years in the business. More information about this week's Reno auction can be found at www.rbauction.com.

"We've got a really nice mix of heavy equipment in the auction, including close to 100 items of Caterpillar equipment and several Volvo pieces," said Mike Brenner, Area Manager, Ritchie Bros. Auctioneers. "This is a great opportunity for equipment users to purchase gear that is in good condition and that they can put to work right away in a variety of applications."

Q & D Construction, having recently completed upgrades to the Reno-Tahoe Airport baggage check-in, will be selling close to 90 items in the auction. Heavy equipment includes:

    -   Caterpillar 631E Series II motor scrapers
    -   Caterpillar 825G compactors
    -   Volvo A40D articulated dump trucks
    -   2005 Volvo EC460BLC hydraulic excavators
    -   Cat D9R crawler tractors

Peavine Construction and MKD Construction are among the more than 60 owners also selling equipment in the June 4th Reno public auction.

This week's Reno auction also features a 2005 Caterpillar 988G wheel loader-the only one currently available in Ritchie Bros.' auction inventory. The last time a 2005 Caterpillar 988G was sold at a Ritchie Bros. auction was in November of 2009, when two of the wheel loaders were sold at the Company's permanent auction site in Houston, Texas - one of which was purchased by an Australian buyer.

"The Cat 988G wheel loader and the Cat 825G compactors are just some of the larger sized pieces in the auction that are harder to find in today's equipment market," said Mike Johnston, Divisional Manager, Ritchie Bros. Auctioneers. "These larger machines are in short supply. The auction will give buyers from around the world an opportunity to purchase them for true global market value."

All items in the auction will be sold to the highest bidders on auction day-regardless of price-with no minimum bids or reserve prices. Interested buyers can inspect, test and compare equipment at the Reno auction site this week right through to auction day.

    Auction details:

    -   Location: 20202 East Highway 80, Sparks, Nevada 89434. Exit 28
    -   Auction site phone: +1.775.342.6031
    -   Time and date: Friday, June 4, 2010 starting at 8:00 a.m.
    -   The auction is open to the public and registration to bid is free.
        First-time registered bidders are required to place a US$1,000
        refundable deposit when they register
    -   Customers can inspect, test, and compare items in the auction yard
        during regular business hours
    -   Interested buyers can bid in person at the Reno auction site, online
        in real time at www.rbauction.com or by proxy by contacting the Reno
        auction site at +1.775.342.6031
    -   More information about the auction, including full 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 41 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

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SOURCE Ritchie Bros. Auctioneers