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Earthmoving equipment attracts international bidders to unreserved CA$26 million dollar Ritchie Bros. auction in Toronto, Ontario
FOR IMMEDIATE RELEASE: December 13, 2007
TORONTO, ONTARIO – Ritchie Bros. Auctioneers (NYSE and TSX: RBA) conducted one of the largest Toronto auctions in company history this week, selling more than 2,500 lots over two days for total gross auction proceeds exceeding CA$26 million (US$26 million). The unreserved public auction featured complete dispersals for two major earthmoving companies, Caledon, Ontario-based H. Davis Equipment Rental Ltd. and Hamilton, Ontario-based D.V.C. Contracting, as well as trucks and industrial equipment from almost 400 other consignors.
Over 2,900 people from 31 countries, including 37 U.S. states and 12 Canadian provinces and territories, registered to bid in the auction – including over 600 people who registered to bid online, live and in real time, using the Ritchie Bros. internet bidding service rbauctionBid-Live. Ritchie Bros., the world’s largest industrial auctioneer, conducted the auction at its permanent auction site in Bolton (Toronto), Ontario on December 11 & 12, 2007.
“The auction was a great success,” said Brian Dykstra, Ritchie Bros. Area Manager. “We had more than two thousand people bidding onsite, plus hundreds over the internet, and were able to deliver strong returns for our consignors. H. Davis and D.V.C. Contracting have reputations for maintaining their equipment well, and Ritchie Bros. was able to bring in the bidders from all over the world, resulting in two good days of good prices.”
Ritchie Bros. sold a large selection of equipment on behalf of H. Davis and D.V.C. Contracting, including crawler tractors, hydraulic excavators, wheel loaders, articulated dump trucks, motor graders, motor scrapers and trucks.
“The auction went really well. We’re very happy,” said Bob Davis, one of the owners of H. Davis. “Our equipment got the prices we were hoping for or above. It was sold to buyers from Austria, Colombia, all over North America; equipment moves around the world so easily these days. If I was doing this again, I would do it the same way. I would recommend Ritchie Bros. to anyone.”
“Ritchie Bros. did an excellent job,” said David Van Camp, owner of D.V.C. Contracting. “We were happy with the results, but selling everything over two days was the biggest benefit of selling by unreserved auction. Everything was settled quickly and easily. Ritchie Bros. were good people to deal with, they treated us well, and I wouldn’t hesitate in recommending them.”
This coming Friday, December 14, Ritchie Bros. will conduct an unreserved agricultural equipment auction at Podolinsky Equipment Ltd., a John Deere dealership in Petrolia, Ontario. Over 250 equipment items will be sold on auction day, including late model MWFD and 2WD tractors, headers, balers, mowers and seeding equipment.
There are 27 unreserved industrial and 56 unreserved agricultural auctions on the upcoming Ritchie Bros. auction calendar. Details on all upcoming Ritchie Bros. auctions are available at 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 about the auction contact:
Kim Schulz, Corporate Communications Manager, Ritchie Bros. Auctioneers
Head office tel: +1.604.304.3830 or +1.800.663.8457
or email kschulz@rbauction.com
Or
Brian Dykstra, Area Manager, Ritchie Bros. Auctioneers
Toronto auction site tel: +1.905.857.2422
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