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High demand for quality equipment at Ritchie Bros. CA$23 million Grande Prairie auction
Close to 2,400 bidders vie for more than 1,700 equipment, transportation and real estate lots in unreserved auction
FOR IMMEDIATE RELEASE: November 19, 2007
GRANDE PRAIRIE, ALBERTA – A large selection of construction and transportation equipment, in addition to agricultural land, attracted almost 2,400 registered bidders to an unreserved Ritchie Bros. auction in Alberta last week. The unreserved public auction was conducted on November 14 & 15, 2007 at the Company’s permanent auction facility in Grande Prairie.
More than 1,700 lots from close to 270 consignors were sold over two days, generating more than CA$23 million (US$23 million) in gross auction proceeds. The auction attracted bidders from 13 countries, including 29 U.S. states and 11 Canadian provinces and territories—including more than 630 people who registered to bid online using the Company’s real-time internet bidding service, rbauctionBid-Live.
“We had another strong Alberta auction, showing that the demand for good quality equipment remains high. Transportation equipment sold particularly well,” said Brian Podruzny, Ritchie Bros. Regional Manager. “We saw good participation from the internet, but we’re also seeing more onsite bidders at our auctions. An increasing number of equipment users are recognizing the benefits of buying at our unreserved auctions.”
The auction featured a large selection of late-model and unused transportation equipment, as well as a major realignment for G. D. Cornish Trucking Ltd. of Fort Nelson, B.C. The company sold more than 50 items in the auction, including water trucks, truck tractors, dump trucks and trailers.
“Ritchie Bros. did an excellent job; I’m more than happy with the results of the auction,” said company owner Gary Cornish. “Given the local economy and the shortage of experienced workers, I have decided to downscale my fleet and buy some newer, lower emissions, more economical trucks. The reason I chose Ritchie Bros. for this realignment is that, at the end of the day, everything was sold.”
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 further information, please contact:
Kim Schulz, Corporate Communications Manager, Ritchie Bros. Auctioneers
Head office tel: 1.800.663.8457 or Email: kschulz@rbauction.com
Or
Brian Podruzny, Regional Manager, Ritchie Bros. Auctioneers
Grande Prairie auction site tel: 1.780.538.1100
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