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Press release from PR Newswire

Late model cranes to be sold at Ritchie Bros. auctions in Lincoln, NE and Houston, TX

Thursday, October 27, 2011

Late model cranes to be sold at Ritchie Bros. auctions in Lincoln, NE and Houston, TX06:00 EDT Thursday, October 27, 2011 World's largest industrial auctioneer sold US$100 million of cranes worldwide in first nine months of 2011 HOUSTON, Oct. 27, 2011 /PRNewswire/ - A large selection of late model cranes will be sold by Ritchie Bros. Auctioneers (NYSE and TSX: RBA)?the world's largest industrial auctioneer?at upcoming unreserved auctions in Houston, Texas on November 16 - 17, 2011 and at the Lancaster Event Center in Lincoln, Nebraska on November 18, 2011. Cranes being sold at the Company's permanent auction site in Houston include rough terrain and hydraulic truck cranes and seven large crawler cranes from Link-Belt and Manitowoc. The cranes being sold in Lincoln, NE include late model hydraulic, all terrain, rough terrain cranes and crawler cranes. Both auctions are open to the public and registration to bid is free. Cranes and equipment will be sold to the highest bidders on auction day, with no minimum bids or reserve prices. Bids can be made in person, online in real time at www.rbauction.com or by proxy. After achieving record breaking crane sales in 2010, Ritchie Bros. has continued to experience very strong crane sales in 2011. Between January 1 and September 30, Ritchie Bros. sold more than 1,250 cranes at unreserved auctions worldwide, representing total sales of close to US$100 million. The Company currently has more than 120 cranes listed in upcoming auctions and viewable at www.rbauction.com. Houston - November 16 & 17 "We have a wide assortment of cranes, including several late model cranes, being sold in our upcoming two-day Houston auction. The big ticket cranes are the crawler cranes that we anticipate will attract international crane buyers from around the world," said Alan McVicker, Regional Manager, Ritchie Bros. Auctioneers. "We've had a very strong year in terms of crane sales at Houston auctions and now that the end of year is fast approaching, crane companies realize they need to move and sell the cranes they are no longer using?a Ritchie Bros. unreserved auction presents them with the perfect opportunity to do that." Cranes being sold in Ritchie Bros.' upcoming Houston auction on November 16 & 17 include: 2009 Manitowoc 999 Series 1, 2 & 3 275-ton crawler crane 2007 Grove TMS800E 80-ton 8x4X4 hydraulic truck crane 2007 Grove RT530-2 30-ton 4X4 rough terrain crane 2003 Link-Belt RTC80100 100-ton rough terrain crane Other equipment being sold in the Houston auction includes hydraulic excavators, loader backhoes, articulated dump trucks, rock trucks, wheel loaders, motor graders, and crawler tractors and more. Owners interested in consigning their equipment or cranes in the November 16 - 17 Houston auction can contact +1.713.455.5200 for more information. Auction details: Location: Ritchie Bros.' permanent Houston auction site at 15500 Eastex Freeway, Humble, TX 77396 Time and date: Wednesday, November 16 - Thursday, November 17, 2011 starting at 8:00 a.m. each day Site phone: +1.713.455.5200 Interested buyers can visit the auction site to inspect, test and compare items for themselves Full auction and equipment details, specifications and photos are available at www.rbauction.com Lincoln, NE - November 18 "We've got a nice selection of late model cranes in our second off-site auction and second complete dispersal in Nebraska this year," said Ben Arbeiter, Regional Manager, Ritchie Bros. Auctioneers. "The cranes and equipment will be on display in an equipment yard adjacent the Lancaster Event Center for buyers to inspect two weeks prior to the auction. Items will then be sold to the highest bidders by Virtual Ramp inside the Lancaster Event Center on auction day. In 2007, we conducted a similar unreserved auction with cranes at the same facility and the setup proved to be very convenient for both buyers and sellers." Late model cranes being sold in Ritchie Bros.' upcoming Lincoln auction on November 18 include: 2011 Link-Belt HTC86100 100-ton 8X4X4 hydraulic truck crane 2007 Terex American HC80 80-ton self-erecting crawler crane 2006 Grove TMS880E XL 80-ton 8X4X4 hydraulic truck crane 2006 Manitowoc 10000 100-ton self-erecting crawler crane 2003 Grove GMK5240 240-ton 10x8X8 all terrain crane Other equipment being sold in the Lincoln auction includes boom trucks, wheel loaders, lowboy, hi-boy and step deck trailers, forklifts and more. Owners interested in consigning their equipment or cranes in the November 18th Lincoln auction can contact +1.816.633.4096 for more information. Auction details: Location: Lancaster Event Center, 4100 N. 84th Street, Lincoln, NE 68507 Time and date: Friday, November 18, 2011 starting at 9:00 a.m. Site phone: +1.816.633.4096. Interested buyers can visit an equipment yard adjacent the Lancaster Event Center to inspect, test and compare items for themselves two weeks prior to the auction (between 8:00 a.m. and 5:00 p.m.) straight through to auction day Full auction and equipment details, specifications and photos are 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 heavy 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 of cranes and other media resources are available for use at http://www.rbauction.com/photos. Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros. SOURCE Ritchie Bros. AuctioneersFor further information: <p> Vicki Cunningham, Supervisor, Corporate Communications, Ritchie Bros. Auctioneers<br/> Phone: +1.778.331.5464 or email <a href="mailto:vcunningham@rbauction.com">vcunningham@rbauction.com</a><br/> Or<br/> Ben Arbeiter, Regional Manager, Ritchie Bros. Auctioneers<br/> Lincoln auction site phone: +1.816.633.4096 or email <a href="mailto:barbeiter@rbauction.com">barbeiter@rbauction.com</a><br/> Or<br/> Alan McVicker, Regional Manager, Ritchie Bros. Auctioneers<br/> Houston auction site phone: +1.713.455.5200 or email <a href="mailto:amcvicker@rbauction.com">amcvicker@rbauction.com</a> </p>