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Ritchie Bros. sells $57 million at Edmonton auction


March 11, 2013
By From Canada Newswire

March
11, 2013, Edmonton, Alta. /CNW/ – Ritchie Bros. Auctioneers (NYSE and TSX:
RBA), the world's largest industrial auctioneer, sold more than CA$57 million
(US$55+ million) of heavy equipment and trucks during an unreserved public
auction at its permanent auction site in Edmonton, Alberta last week, on March
7 & 8, 2013.

March
11, 2013, Edmonton, Alta. /CNW/ – Ritchie Bros. Auctioneers (NYSE and TSX:
RBA), the world's largest industrial auctioneer, sold more than CA$57 million
(US$55+ million) of heavy equipment and trucks during an unreserved public
auction at its permanent auction site in Edmonton, Alberta last week, on March
7 & 8, 2013. The auction featured a large selection of late-model mining
and heavy construction equipment, including more than 70 hydraulic excavators,
more than 45 wheel loaders, more than 30 articulated dump trucks, more than 15
rock trucks and 10 crushers. More than 3,500 equipment items and trucks were
sold to the highest bidders regardless of price—without minimum bids or reserve
prices. Bids were made in person at the Edmonton auction site, online in real
time at www.rbauction.com
or by proxy.

"Our
first auction of the year here in Edmonton featured a large selection of late
model mining, construction and transportation equipment, which we're seeing a
lot of – with the Alberta mining industry on a steady move," said Jim
Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers. "Participation
from local and international bidders created a healthy, competitive bidding
environment during both days of the auction. We saw strong results for
late-model, low-hour equipment for the mining, construction, transportation and
other industries—a positive sign at the start of 2013 as we get set for our
second auction at the end of April."

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to 5,700 bidders from more than 35 countries, including 39 US states and all
Canadian provinces and two territories, registered to bid in person or online
for the auction. More than CA$39 million (US$38+ million) was purchased by
buyers from Alberta while bidders from outside Alberta purchased more than
CA$18 million (US$17+ million) or 32 percent of total gross auction proceeds.
More than 2,900 of the bidders taking part in the auction registered to bid
online – a new Edmonton site record – and purchased more than CA$19 million
(US$18+million) of equipment available online.

Last
week's unreserved public auction in Edmonton featured equipment for more than
490 sellers, including more than 70 mining, heavy construction and
transportation equipment items from North American Construction Group Inc. For
more than 50 years, the North American Construction Group of companies have
provided services to large oil, natural gas, and resource companies in the
Canadian oil sands region. They are one of the largest providers of heavy
construction and mining, industrial and piling services in western Canada with
one of the largest independently-owned fleets in the region. The company has been
buying and selling equipment at Ritchie Bros. auctions for more than 20 years
in order to keep their fleet current and in good, working condition.

"In
general, we saw good activity levels from the bidding crowds during last week's
auction," said Joe Lambert, Vice President, North American Construction
Group. "A variety of fleets —from larger mining gear to smaller
construction equipment— crossed the auction ramp with strong participation by
the bidding crowd from both industries. The used equipment market has shown a
slight improvement over last fall when there was a significant disposal of
thermal coal assets from the U.S. into the market. We look forward to the next
Ritchie Bros. Edmonton auction where we will look at our options for selling
some more equipment to buyers from around the world."

AUCTION
QUICK FACTS: EDMONTON, AB – MARCH 7 & 8, 2013

  • Gross Auction Proceeds – CA$57+ million (US$55+ million)
  • Amount sold to online bidders – CA$19+ million (US$18+ million)
  • Unique bidders (total) – close to 5,700
  • Unique online bidders – 2,900+ * New Edmonton, AB
    permanent auction site record
  • Lots sold – 3,500+
  • Number of sellers – 490+

The
Ritchie Bros. auction calendar currently features more than 125 unreserved
public auctions around the world, including the Company's next Edmonton, AB
unreserved public auction, which is scheduled for April 24 & 25, 2013.
Visit www.rbauction.com
for a complete list of upcoming auctions.