Ritchie Bros. prepares for large 5-day public unreserved auction in Orlando, FL

Annual auction opportunity for owners to sell equipment to the world: Orlando, February 15 – 19th
ORLANDO, FLORIDA (January 17, 2011) – Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest industrial auctioneer, is preparing for a five-day unreserved public equipment auction at its permanent auction site in Orlando, Florida from February 15 – 19. More than 2,600 equipment items, cranes and trucks are quickly filling up the 200 +/- acre Orlando auction yard. Items will continue to be added daily right through to auction day. More information, including equipment photos and auction details, is available at www.rbauction.com.

The Orlando February auction is typically the largest industrial auction on the Ritchie Bros. auction calendar, attracting a large crowd of international bidders each year. More than 7,000 registered on-site and online bidders from 75 countries competed for 7,200 equipment items sold in last year’s Orlando February auction; approximately 85 percent of equipment was purchased by bidders from outside Florida.

“Each year, the February auction in Orlando sets the tone and really drives what happens the rest of the auction year,” said Steve Kriebel, Regional Manager, Ritchie Bros. Auctioneers. “The auction also attracts a large representation of bidders from around the world, ready and willing to compete for the equipment they need, resulting in better returns on equipment for owners. As with every auction we conduct, everything is sold unreserved, meaning sellers always have the certainty that their equipment will be sold on auction day to the highest bidders, regardless of price.”

A major highlight of this year’s Orlando auction is more than 100 cranes, including rough terrain, all terrain, hydraulic truck, crawler and tower cranes. During the past two years, Ritchie Bros. has seen a steady increase in the amount of cranes being sold at its auctions worldwide. In 2010, the Company achieved record-breaking crane sales, selling 1,870 cranes to buyers in 63 countries worldwide, which generated over US$155 million in gross auction proceeds.

In addition to cranes, also being sold during the five-day Orlando auction, is a large volume of all types of construction, aggregate and paving equipment, aerial and lifting equipment, trucks, trailers and attachments. Every item will be sold to the highest bidder with no minimum bids or reserve prices.

Consignments for the Orlando auction are still being accepted; anyone interested in selling cranes, trucks and equipment in the auction can contact the Ritchie Bros. Orlando site at +1.863.420.9919.

Auction details:

  • Location: Ritchie Bros.’ Orlando auction site at the corner of I-4 & US Hwy 27 (700 Ritchie Rd), Davenport, FL
  • Orlando auction site tel: +1.863.420.9919
  • Time and date: Tuesday, February 15 to Saturday, February 19, 2011. Auction start time: 8:00 a.m. daily
  • The auction is open to the public; registration to bid is free; a refundable bid deposit may be required
  • How to register and bid:
    • In person at the auction site
    • Online at rbauction.com – register in advance and bid online in real time on auction day; a refundable bid deposit may be required; first-time bidders should register several days in advance of the auction
    • By proxy – phone the auction site to place a proxy bid
  • Interested buyers can come to the auction site to inspect, test and compare items

About Ritchie Bros.
Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the world’s largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. Ritchie Bros. offers services that enable the world’s builders to easily and confidently exchange equipment. The Company conducts hundreds of unreserved public auctions each year, selling a broad range of used and unused equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. Ritchie Bros. has over 110 locations in more than 25 countries, including 43 auction sites worldwide. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com



ATTENTION MEDIA: Photos and other media resources are available for use at http://www.rbauction.com/media
Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros.

For more information contact:            
Jose Vargas, Corporate Communications Specialist, Ritchie Bros. Auctioneers
Phone: +1.778.331.5439 or email jvargas@rbauction.com
Steve Kriebel, Regional Manager, Ritchie Bros. Auctioneers
Phone: +1.863.420.9919 or email skriebel@rbauction.com