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VANCOUVER, BRITISH COLUMBIA - Ritchie Bros. Auctioneers (NYSE:RBA; TSX: RBA) conducted its largest sale to date in Company history last week in Moerdijk, (Rotterdam), the Netherlands, earning over € 51million (approx. US$68 million) in Gross Auction Proceeds.
The four-day unreserved auction, held November 30 through December 3 at the 62-acre Ritchie Bros. auction site, attracted 1,587 people from 65 countries and 30 U.S. states to register and bid on 4,482 equipment items and trucks.
"We hosted a diverse crowd at the auction, with people from all over the world competing strongly for the equipment," commented Guylain Turgeon, Managing Director of the Company's European operations. "Of particular note, we have been enjoying a sharp increase in participation from our Eastern European customers. Thanks to the involvement of such a broad range of global buyers, we are able to reach beyond the regional, and even European market, to deliver global market values to sellers. It continues to be a great time to sell."
More than 40% of total purchases were made by buyers from outside of Europe: 18% went to North American buyers, 12% to African buyers, 11% to Middle Eastern buyers, and with the balance to buyers from Australia and New Zealand.
Over 450 sellers consigned equipment to the sale, with a large amount coming from fleet realignments for Bechtel Overseas Corporation and Colas SA. Most of the machines were from the construction, quarry, agriculture, access, and transportation industries. Some of the larger items included late-model rock trucks, crawler tractors and hydraulic excavators.
The Company's previous largest sale took place in February 2004 in Orlando, Florida. There, buyers purchased over US$64 million worth of trucks and equipment.
This week there are five industrial auctions on the Ritchie Bros. auction calendar, including a three-day auction in Ft. Worth, Texas. Auction details and equipment listings are available on www.rbauction.com.
About Ritchie Bros.
Ritchie Bros. is the world's largest auctioneer of industrial equipment, operating through over 110 locations in more than 25 countries around the world. The Company sells, through unreserved public auctions, a broad range of used and unused industrial equipment including equipment utilized in the construction, transportation, mining, forestry, petroleum, marine and agricultural industries. The Company maintains a web site at www.rbauction.com.
Investors and potential investors should note that this information may not be indicative of the overall financial performance of the Company for this or any period. |
