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VANCOUVER, BRITISH COLUMBIA – Ritchie Bros. Auctioneers (NYSE:RBA, TSX:RBA), the world’s largest industrial auctioneer, today announced the results of two multi-day auctions held at its permanent auction sites in Moerdijk (Rotterdam), the Netherlands; and Fort Worth, Texas last week. Total Gross Auction Proceeds for both unreserved auctions combined exceeded US$70 million.
Over 4,000 people registered to bid at the two auctions last week, with more than 6,200 items sold completely unreserved. The Fort Worth sale, held March 1-3, was the larger of the two auctions with Gross Auction Proceeds of approximately $41 million. Over 3,000 people from 30 countries – including Australia, Thailand, Saudi Arabia and India – and 46 U.S. states registered to bid on more than 3,100 lots.
David Hobbs, Divisional Manager – South Central, was pleased with the results for the Fort Worth auction, noting that global demand for quality used equipment is currently strong and that Ritchie Bros. Auctioneers unreserved auctions continue to attract a growing number of customers.
“The market for used equipment is pretty hot right now. We had over 3,000 bidders turn out for our three-day sale,” said Hobbs. “We had a tremendous transportation day on the final day of the sale, but every category did well. We’re very happy with the results.”
More than 860 internet bidders, using the Company’s real-time bidding service rbauctionBid-Live, purchased over $7 million worth of trucks and equipment items at the Texas sale. Internet participants were buyers or runner-up bidders on 26% of the lots available for online bidding.
Last week’s other major sale, held in Moerdijk on March 1-3, was also successful. “It was a good auction for us,” commented Guylain Turgeon, Senior Vice-President and Managing Director, European operations. “We made an effort to attract Eastern European buyers to this sale, and the turn-out of those customers was positive.”
Turgeon went on to say, “One highlight from this sale was a series of 15 unused MAN mixer trucks that sold to three buyers – two from Kuwait and one from France – for a total of more than €1 million. We were also pleased with the sale price realized for three Caterpillar 345BL hydraulic excavators, which went to buyers in Kuwait and Hungary. They sold for a total of over €650,000.”
The Moerdijk auction had Gross Auction Proceeds of more than €24 million (approximately US$29 million). Over 1,000 people from 61 countries – including most European Union nations, several Middle East countries, Canada and the U.S. – registered to bid on over 3,100 lots.
More than 140 internet bidders using rbauctionBid-Live purchased over €900,000 (US$1 million) worth of trucks and equipment items. Internet participants were buyers or runner-up bidders on approximately 9% of the lots available for online bidding.
There are currently more than 25,000 truck and equipment items that will be sold at 27 Ritchie Bros. unreserved industrial auctions during March 2006, and more items are being added daily to sale catalogs. Details on all upcoming Ritchie Bros. auctions, including equipment listings, are available on www.rbauction.com.
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, material handling, mining, forestry, petroleum, marine, real estate, 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. |
