Ritchie Bros. to sell 165-ton Grove all terrain crane in Chicago unreserved auction

Female-owned La Grange Crane Service Inc. uses unreserved auctions to sell assets and grow business

CHICAGO, Sept. 18 /PRNewswire-FirstCall/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will conduct a multi-million dollar unreserved public auction at its permanent auction site in Chicago next week on Thursday, September 23, 2010. More than 1,400 equipment items and trucks will be sold on auction day, including a 2006 Grove GMK5165 165-ton all terrain crane for LaGrange Crane Service Inc., an Illinois-based and female-owned crane company. This will be the first time Ritchie Bros. has sold this specific crane at an unreserved auction. More information, including equipment photos and details, is available at www.rbauction.com.

"We are going to miss our 2006 GMK5165. It's a very versatile piece of equipment with a small footprint capable of operating in limited space, but we are looking forward to replacing it with another monster crane," says Judi Mooncotch Jr., Vice President, LaGrange Crane Service Inc. "This is our third time consigning with Ritchie Bros.-their auctions have proven to be a great way to liquidate some of our assets in order to grow our business."

The five axle Grove GMK5165 165-ton all terrain crane has 197 feet of main boom and 59 feet of swing away. LaGrange has also consigned five Terex hydraulic truck cranes in the September 23 Chicago auction.

Next week's Chicago auction also features a number of other cranes, including a 2006 Link-Belt RTC8065 Series rough terrain crane. Heavy equipment being sold includes 40+ forklifts, hydraulic excavators, wheel loaders, crawler tractors and dump trucks. Transportation items featured in the auction include 80+ van trailers, 35+ truck tractors, pickup, utility and flatbed trucks and an assortment of trailers.

"We have a large selection of heavy construction equipment and transportation items from more than 100 owners," said Kieran Holm, Regional Manager, Ritchie Bros. Auctioneers. "We encourage anyone interested in purchasing the cranes and equipment to register to bid. All items will be sold to the highest bidder on auction day-regardless of price-with no minimum bids or reserve prices. Interested buyers can also come out to the Chicago auction yard to test and inspect equipment for themselves before and on auction day."

Most equipment will be sold in the live auction; registered bidders can bid in person at the auction site, online in real time at rbauction.com, or by proxy. Smaller items, such as attachments and consumer goods, will be sold in an online Timed Auction. Bids can be placed on the Timed Auction lots online at rbauction.com, through internet kiosks at the auction site, or by proxy. The auction site has free public wireless internet access.

Equipment consignments are still being accepted; owners interested in selling their cranes and equipment in the September 23 auction can contact the Chicago auction site +1.815.941.6400 to discuss their options.

    Auction details:
    ----------------
    -   Location: Ritchie Bros. Auctioneers' permanent Chicago auction site,
        2400 Ritchie Rd, Morris, Illinois, 60450
    -   Chicago auction site phone: +1.815.941.6400
    -   Time and date: Thursday, September 23, 2010 starting at 8:00 a.m.
    -   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 - first-time bidders from the U.S.
           and Canada must place a refundable $1,000 bid deposit when they
           register on-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 Chicago auction site to place a proxy bid
    -   Interested buyers can come to the auction site to inspect, test and
        compare items
    -   More information, including equipment details and photos, is
        available at www.rbauction.com

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. The Company has over 110 locations in more than 25 countries, including 42 auction sites worldwide. Ritchie Bros. sells, through unreserved public auctions, a broad range of used and unused industrial assets, including equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.

ATTENTION MEDIA: A photo of the Grove GMK5156 165-ton all terrain crane 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

SOURCE Ritchie Bros. Auctioneers

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