The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from CNW Group

Ritchie Bros. to conduct unreserved agricultural auction in Keremeos, BC Nov. 19

Thursday, November 03, 2011

Ritchie Bros. to conduct unreserved agricultural auction in Keremeos, BC Nov. 1910:00 EDT Thursday, November 03, 2011Highlights include ranch & residential acreage, a livestock dispersal and farm equipmentKEREMEOS, BC, Nov. 3, 2011 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest auctioneer of construction and farm equipment, is conducting an unreserved public agricultural auction in Keremeos, B.C. (south of Penticton) on Saturday, November 19, 2011. The complete dispersal auction for Neil and Kelly Mullen will include 212± title acres of ranch and residential property, a livestock dispersal and 100+ farm equipment items. Every item in the auction will be sold to the highest bidder on auction day—regardless of price—with no minimum bids or reserve prices. Bidders can bid in person at the auction on the Muller's ranch, online in real time at www.rbauction.com, or by proxy.Neil and Kelly Mullen purchased their ranch in Keremeos eight years ago and have decided to sell it so they can focus on other business opportunities. The Mullen's have been owners of several contracting businesses over the years and have been buying and selling equipment at Ritchie Bros.' auctions across North America for 30 years."With that long of a track record, I know what to expect and the types of results Ritchie Bros. gets," said Mr. Mullen. "It's why I chose them to handle this agricultural dispersal for us—it was the most convenient option. I don't have to worry about trying to sell all my farm assets—the equipment, cattle, and acreage separately—they handle the details and everything gets sold at the auction in one day."This will be the second complete on-the-farm dispersal Ritchie Bros. has done in British Columbia in 2011 and the first in the Okanagan-Similkameen region. While Ritchie Bros. conducts hundreds of on-the-farm auctions every year in Alberta, Saskatchewan and Manitoba, on-the-farm auctions in B.C. have been steadily gaining momentum in the last few years. In May, Ritchie Bros. conducted a large agricultural dispersal auction for KFC Farms in Kamloops, B.C. The auction attracted more than 750 local and international bidders from 15 countries with buyers from B.C. purchasing over 70 percent of items sold.Full auction and auction inventory details and photos can be found at rbauction.com. Among the items being sold:100+ farm equipment items 2006 John Deere 6415 MFWD tractor; a 2011 Ford F450 XLT Super Duty Flatbed truck; a Caterpillar 426C 4X4 loader backhoe; a John Deere 850D 4X4 recreational vehicle, livestock and irrigation equipment and more.Residential and ranch acreage- to be sold at approximately 12 p.m.212± title acres of ranch and residential property, including 170± title acres of irrigated acreage and a 1,680 sq. ft.  double wide modular residential home. The acreage, modular home and residential property will be sold as one parcel of real estate on auction day. Two other removable modular homes on the property will be sold separately.220+ head of commercial livestock115± Black Baldy cows, (Angus and Hereford cross), six± registered Black Angus bulls and 100± Black Angus cross calves. Livestock will be corralled and sorted for easy viewing and sold after real estate and equipment.Auction Details: Location: The Way Home Mullen ranch, Keremeos, BC (south of Penticton)Time & Date: Saturday, November 19, 2011 starting at 10:00 a.m.Telephone:+1.780.512.1449Directions to the auction site: From Penticton, go south on Hwy 97 to Hwy 3a, then 22 km southwest on Hwy 3a to the propertyOpen to the public, registration to bid is freeHow to register and bid:In person at the auction siteOnline at rbauction.com - register in advance and bid online in real time on auction day starting at noon; a refundable bid deposit may be required; first-time bidders should register several days in advance of the auctionBy proxy - phone the auction site to place a proxy bidInterested buyers can inspect, test and compare items for themselves Monday to Friday during 8:00 a.m. to 5:00 p.m. before the auction and on auction day by contacting Tyler Ruttan at +1.780.512.1449.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.comATTENTION MEDIA: Photos of the residential property and ranch acreage are available for use at http://www.rbauction.com/photos. Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros.For further information: Vicki Cunningham, Supervisor, Corporate Communications, Ritchie Bros. Auctioneers Phone: +1.778.331.5464 or email vcunningham@rbauction.com Or Tyler Ruttan, Area Manager, Ritchie Bros. Auctioneers Phone: 1.780.512.1449 or email truttan@rbauction.com