Rock to Road

News
Ritchie Bros. Achieve Record Numbers


October 3, 2012
By From Canada Newswire

October
3, 2012, Vancouver, BC /CNW/ – Vancouver-based Ritchie Bros. Auctioneers (NYSE
and TSX: RBA), the world's largest auctioneer of heavy equipment and trucks,
sold approximately $561 million of equipment at 31 unreserved auctions around
the world in September 2012, the highest September gross auction proceeds in
Company history and one of its largest ever months.


October
3, 2012, Vancouver, BC /CNW/ – Vancouver-based Ritchie Bros. Auctioneers (NYSE
and TSX: RBA), the world's largest auctioneer of heavy equipment and trucks,
sold approximately $561 million of equipment at 31 unreserved auctions around
the world in September 2012, the highest September gross auction proceeds in
Company history and one of its largest ever months. The Company also achieved
its highest ever third quarter gross auction proceeds with approximately $848
million of equipment sold during the quarter ended September 30, 2012. The
Ritchie Bros. website (www.rbauction.com) attracted roughly 4.1 million unique
visitors in the first nine months of 2012, a 39% increase compared to the same
period in 2011. All dollar amounts in this news release are presented in U.S.
dollars.

 

Advertisment

"Our
record September and third quarter gross auction proceeds reflect steady
improvement in equipment supply and demand dynamics, which we discussed on our
August earnings call," said Peter Blake, Ritchie Bros. CEO. "New
equipment supply and demand continued to become more balanced during the
quarter, which is beginning to increase the availability of used equipment in
the market. This is a positive development for our business and growth
prospects, though increasing equipment supply resulted in generally more
variability in used equipment prices at our auctions in the month of
September,"

 

Mr. Blake
continued: "We expect that increased availability of equipment will
continue to stimulate the supply of used equipment to sell at our auctions.
This is a promising sign as we move into the fourth quarter and we are
confident in our ability to execute and achieve our 2012 plan."

 

Highlights
from the month of September included:

 

On
Wednesday and Thursday, September 5 and 6, 2012, Ritchie Bros. Auctioneers sold
close to $54 million of heavy equipment and trucks during a two-day unreserved
public auction at the Company's permanent auction site in Edmonton, Alberta.
Almost 5,000 registered bidders competed for 4,600 heavy equipment items and
trucks, including a selection of more than 120 T/A truck tractors, more than 75
hydraulic excavators and more.

 

Later in
the month, the Company sold more than $67 million of heavy equipment and trucks
at two Australian unreserved public auctions in Brisbane, QLD (September 18)
and Geelong, VIC (September 20). In total, close to 1,700 heavy equipment items
and trucks were sold in the two auctions, including 92 wheel loaders, 86
hydraulic excavators, 21 crawler tractors, 36 articulated dump trucks, 52 prime
movers and more.

 

More than
2,950 bidders from 58 countries participated at a two-day unreserved public
auction in Fort Worth, Texas on September 25 & 26, 2012. The Company sold
more than $40 million of equipment items and trucks at the Fort Worth auction,
which featured more than 3,400 heavy equipment items and trucks.

 

To wrap
up the record-breaking month of September, Ritchie Bros. held a historic
auction at the Company's brand new permanent auction site in Raleigh-Durham,
North Carolina on September 26 & 27, 2012. More than 2,100 bidders from 51
countries registered on site in Raleigh, on site at a simulcast of our auction
in Las Vegas, Nevada, or online at www.rbauction.com to participate in last
week's Grand Opening auction in North Carolina, which featured a massive
selection of more than 300 mining and earthmoving equipment items that were
used in coal mining operations in Kentucky and West Virginia.

 

The
Company sold more than 60 Caterpillar D11 crawler tractors on Day Two of the
auction—which was an extremely rare opportunity for members of the equipment
industry to have access to such a large selection on a single day. Local
U.S.-based buyers as well as buyers from as far away as Australia and Hong Kong
purchased the D11s on auction day. By the end of Day Two, the Company had sold
more than US$76 million of trucks, heavy construction, earthmoving and mining
equipment during the two-day unreserved public auction.

 

Upcoming
auctions

There are
currently 87 unreserved auctions on the 2012 Ritchie Bros. auction calendar at
www.rbauction.com, including auctions in North and Central America as well as
Europe and Australia.