Ritchie Bros. sets multiple records at unreserved equipment auctions in Austrailia

AU$59 million of equipment sold at back-to-back auctions in Brisbane and Geelong; aerial photo of Geelong auction site now available

Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest industrial auctioneer (www.rbauction.com), attracted more than 2,600 on-site and online bidders to back-to-back unreserved public auctions in Brisbane and Geelong, Australia last week, selling AU$59 million (US$60 million) of equipment and trucks. Ritchie Bros. sold AU$30 million of equipment in the largest auction ever conducted at its auction site in Geelong, Victoria (September 15, 2011) and AU$29 million of equipment at its permanent auction site in Brisbane, Queensland (September 13). Both auctions set a range of new site records.

“We were proud to offer almost AU$60 million of equipment to the world market at back-to-back auctions in Brisbane and Geelong last week,” said Warwick Mackrell, Vice President, Ritchie Bros. “The selection of equipment was fantastic, a knowledgeable crowd turned up to buy and the bidding was aggressive. Excitement is already building for our next Australian auctions – including our first auction in Sydney since 2006.”

Lachlan Wigg, Managing Director of Ag-Spread, a bulk freight company in Albury, NSW, has been selling equipment at Ritchie Bros. auctions for almost a decade, including last week’s auction in Geelong.

“We’ve always had strong results through Ritchie Bros.,” said Mr. Wigg. “Everyone talks about it when there’s a Ritchie Bros. auction coming up. As a seller, I appreciate their professionalism, the depth of market exposure and advertising, and the unreserved aspect. Ritchie Bros. auctions draw more potential buyers because they know it’s totally unreserved and everything will be sold on the day. Ritchie Bros. auctions are a true reflection of the market.”

Ritchie Bros. attracted more than 1,400 on-site and online bidders from 34 countries to its record-breaking AU$30 million unreserved public auction in Geelong on September 15th. The auction set new site records for total sales, bidders, online bidders, buyers, consignors and online sales. Equipment was purchased by buyers from as far away as the United Kingdom, Malaysia, Peru and the United States.

The auction featured a large selection of late model gear, including more than 30 Volvo and Caterpillar articulated dump trucks. Other highlights included late model Freightliner, Western and Kenworth prime movers, 65 hydraulic excavators, 30 tandem rollers, close to 30 tautliner trailers and aggregate and crushing equipment.

“Demand for late model equipment is high and the strength of the market was apparent on auction day,” said Finlay Massey, Regional Manager, Ritchie Bros. “When you put your equipment in a Ritchie Bros. auction, we make sure the world knows about it – and that’s how we achieved a record crowd in Geelong and excellent results at both auctions.”

Ritchie Bros. attracted close to 1,200 on-site and online bidders from 30 countries to the AU$29 million unreserved public auction at its permanent auction site in Brisbane, Queensland on September 13th. The auction set new site records for number of online bidders and online sales.

Highlights of the Brisbane auction included a large selection of late model Kenworth and Western Star prime movers, over 30 hydraulic excavators and more than 15 late model Caterpillar and Volvo articulated dump trucks.

Ritchie Bros. has four upcoming unreserved public auctions in Australia on the calendar at www.rbauction.com: Sydney, NSW (October 20), Ipswich, QLD (November 17), Brisbane, QLD (November 22) and Geelong, VIC (November 24). Phone the Brisbane auction site for more information about buying or selling: 07.3382.4444.

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.

Image from Ritchie Bros. showing Las Vegas, NV auction featuring 2,000+ heavy equipment items and trucks







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