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Ritchie Bros.’ US$20 million North East, Maryland auction attracts international crane buyers
FOR IMMEDIATE RELEASE: October 5, 2007
NORTH EAST, MARYLAND – More than 20 cranes were featured at the US$20 million unreserved public auction conducted by Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest industrial auction company, at its permanent auction site in North East, Maryland on October 3 & 4, 2007. In total, over 2,200 construction, transportation and other industrial equipment items were sold during the large two-day auction. More than 1,600 lots – representing over US$16 million or 84 per cent of the total gross auction proceeds – were sold to out-of-state buyers.
The unreserved auction attracted more than 2,000 registered bidders from 36 countries, including all 50 U.S. states and nine Canadian provinces. Close to 600 people registered to bid over the internet, live and in real time, using the Company’s online bidding service, rbauctionBid-Live. More than US$4 million of equipment was sold to online bidders from all over the world.
“The crane market continues to be hot, with global demand still exceeding supply,” said Steve Kriebel, Ritchie Bros. Regional Manager. “The large selection of cranes in this auction attracted interest from all over North America, and even internationally. One highlight was a 1999 Link-Belt crawler crane, which sold for US$485,000.”
Among the other equipment sold in the North East auction: 60 dump trucks; 60 hydraulic excavators; close to 40 wheel loaders; almost 40 crawler tractors; over 70 forklifts; 50 skid steer loaders; over 40 loader backhoes; and almost 60 truck tractors. The equipment was sold on behalf of more than 350 consignors, including Amquip, Henkels & McCoy, Infrasource, KW1, Lafarge, NPL Construction Co., Ryan Contracting, and Sunbelt Rentals.
“When you see internet bids coming in from all over the world, and hundreds of onsite bidders who’ve traveled long distances to bid in person, you realize that we really do create a global marketplace for our customers,” said Mr. Kriebel. “We attracted hundreds of interested buyers to Maryland, both on site and online, helping our local consignors achieve global market value for their surplus assets. And we helped hundreds of people find the right equipment for their needs, without limiting their search to the local marketplace.”
There are 47 unreserved industrial and 24 unreserved agricultural auctions on the upcoming Ritchie Bros. auction calendar. Details on all upcoming Ritchie Bros. auctions 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 assets, including equipment, trucks and other assets 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.
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For more information contact:
Vicki Cunningham, Corporate Communications Specialist, Ritchie Bros. Auctioneers
Tel: 1.800.663.8457 or Cell: 604.329.7663 or Email: vcunningham@rbauction.com
Or
Steve Kriebel, Regional Manager, Ritchie Bros. Auctioneers
North East auction site tel: 410.287.4330
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