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Press release from PR Newswire

Ritchie Bros. sells more than CA$60 million of equipment in Edmonton, AB

Monday, December 16, 2013

Ritchie Bros. sells more than CA$60 million of equipment in Edmonton, AB

07:00 EST Monday, December 16, 2013

The Company surpasses $1 billion in annual equipment sales in Canada for second consecutive year

EDMONTON, Dec. 16, 2013 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, sold more than CA$60 million (US$57+ million) of equipment and trucks at its unreserved public auction in Edmonton, AB on December 12 - 13, 2013. More than 3,750 equipment items and trucks were sold in the two-day auction, including a large selection of oil and gas, construction, transportation and other heavy equipment. Every item was sold without minimum bids or reserve prices. Bids were made in person at the Edmonton auction site, online in real time at www.rbauction.com and by proxy.

"With Edmonton being one of the last auctions conducted in Canada during 2013, we're pleased to announce our Canadian operations surpassed last year's sales record, with over $1 billion in Gross Auction Proceeds this year," said Kevin Tink, Senior Vice President, Ritchie Bros. Auctioneers. "Our Edmonton site has been the anchor of this achievement with a site record of more than $425 million of equipment and trucks sold in 2013. We are very pleased with the results and would like to extend a big thank you to our buyers and sellers who continue to place their trust in our Canadian team."

Close to 4,700 bidders from 41 countries, including all Canadian provinces and territories and 42 US states, registered to bid in person or online for the Edmonton December auction last week. CA$42+ million (US$40+ million) of equipment was purchased by Alberta buyers. Participants from outside Alberta purchased more than CA$18 million (US$17+ million) of equipment or 30 percent of total Gross Auction Proceeds. More than 3,050 of the bidders participated online and purchased CA$26+ million (US$24+ million) of the equipment available online.

Equipment in the auction was sold for 500+ sellers, including late model crawler tractors, hydraulic excavators, motor graders and compactors for Precision Contractors Ltd., a Lloydminster, AB-based oilfield construction and earthwork contractor in operation for more than 30 years.

"People working in our industry rely on Ritchie Bros. auctions?whether they're buying or selling," said Frank Tremmel, Senior Vice President & General Manager for Precision Contractors Ltd. "We've tried selling equipment with dealers, other auctioneers and even by ourselves, but nothing compares to the convenience of selling with Ritchie Bros. We send our equipment to the auction site ready to work and they take care of the rest. Our relationship with them is excellent, they're professional, accommodating and their marketing program?which is second to none?yields great results."

AUCTION QUICK FACTS: EDMONTON, AB--DECEMBER 12 - 13, 2013

  • Gross Auction Proceeds - CA$60+ million (US$57+ million)
  • Amount sold to online bidders - CA$26+ million (US$24+ million)
  • Unique bidders (onsite and online total) - Close to 4,700
  • Unique online bidders - 3,050+
  • Lots sold - 3,750+
  • Number of sellers - 500+

The Ritchie Bros. auction calendar currently features 70+ unreserved public auctions around the world, including the Company's next unreserved public auction in Edmonton, AB, which is scheduled for February 26 - 27, 2013. Visit www.rbauction.com for a complete list of upcoming auctions.

About Ritchie Bros. Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros. TM solutions make it easy for the world's builders to buy and sell equipment with confidence, including live unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOneTM secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauctionfinance.com). Ritchie Bros. has operations in more than 25 countries, including 44 auction sites worldwide. Learn more at RitchieBros.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

Image with caption: "More than 3,750 equipment items and trucks were sold for CA$60+ million (US$57+ million) in Edmonton, AB on December 12 - 13, 2013. (CNW Group/Ritchie Bros. Auctioneers)". Image available at: http://photos.newswire.ca/images/download/20131216_C4767_PHOTO_EN_34982.jpg

For further information: <p> Ian Malinski, Corporate Communications Lead, Ritchie Bros. Auctioneers<br/> Phone: +1.778.331.5432 | Email: <a href="mailto:CorpComm@rbauction.com">CorpComm@rbauction.com</a> </p> <p> Or </p> <p> Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers<br/> Edmonton auction site phone: +1.780.955.2486 </p>

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