RERMAG

Ritchie Bros. Auctioneers Holds Record 29-Auction Week

Vancouver, British Columbia-based Ritchie Bros. Auctioneers, the world's largest industrial auctioneer, last week announced results from its busiest auction week in company history. The company held a record 29 unreserved industrial and agricultural auctions between March 26 and April 1, 2006, including a three-day auction in Houston, and a two-day auction in Olympia, Wash. The company also held eight unreserved auctions in one day, on March 28, — a single-day company record.

On March 29-31, the company held its largest unreserved auction ever held at its Houston location, generating gross auction sales of more than US$33 million. More than 3,100 registered bidders from 37 countries, 49 U.S. states and nine Canadian provinces registered to bid on more than 3,000 truck and equipment items at the auction.

More than 820 people registered to use the company's rbauctionBid-Live service at the Houston unreserved auction, which allows interested bidders to participate in Ritchie Bros. auctions over the internet, live and in real-time. More than 225 items were purchased online, accounting for more than US$6 million worth of trucks and equipment items. The Internet participants were buyers or runner-up bidders on 22 percent of the lots available for online bidding.

"It's exciting to be able to break another company record with our first three-day auction in Houston," said Alan McVicker, Ritchie Bros. regional manager. "Prices were strong and the crowd was the largest we've ever seen here."

Ritchie Bros. also held a large auction in Olympia, Wash., on March 29 and 30, generating gross auction sales of more than US$20 million. More than 2,500 registered bidders from 15 countries, 42 U.S. states, and eight Canadian provinces/territories registered to bid on over 2,250 truck and equipment items at the auction.

More than 540 people registered to use the rbauctionBid-Live service at the Olympia unreserved auction and 145 items were purchased online, accounting for more than US$2 million worth of trucks and equipment items. The Internet participants were buyers or runner-up bidders on 18 percent of the lots available for online bidding.

The company also set a record last month for Internet participation at an Australian auction. The March 30 Brisbane, Australia auction saw 24 percent of gross auction sales purchased online, the highest level yet recorded by Ritchie Bros. in Australia. Internet bidders participated from countries all around the world, including major buyers from Texas and Japan.

Ritchie Bros. operates through more than 110 locations in more than 25 countries around the world.

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