Ritchie Bros. breaks multiple records at CA$83 million Edmonton, AB auction last week

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Sep 15, 2014, 07:00 ET

The Company surpassed $1 billion in annual online sales during the three-day Edmonton auction, which was the Company's largest-ever September auction

EDMONTON, Sept. 15, 2014 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, sold more than CA$83 million (US$75+ million) of heavy equipment and trucks in Edmonton, Alberta on September 10 - 12, 2014. This auction set multiple Company records for the month of September, including record gross auction proceeds, online sales (approx. CA$44 million or US$39+ million) and number of lots sold (approx. 6,400). Ritchie Bros. also surpassed $1 billion in annual online sales for 2014 last week, nearly a month earlier than when the Company hit that same mark in 2013.

"This was our largest September sale ever. The record-breaking amount of equipment last week attracted record auction attendance for this time of year, both on-site and online," said Jim Rotlisberger, Regional Sales Manager, Ritchie Bros. Auctioneers. "The cold weather decided to arrive a little early in Alberta this year, but that definitely didn't keep the bidders away. Bidding was very active throughout all three days, which resulted in great returns for our sellers and our highest gross auction proceeds ever for a single auction in September."

More than 7,300 bidders from 48 countries, including all Canadian provinces and territories, as well as 45 US states, registered to bid in person or online for the auction. More than CA$52 million (US$47+ million) of equipment and trucks was purchased by Alberta buyers, while participants from outside the province purchased CA$31+ million (US$28+ million) for 37 percent of total gross auction proceeds. More than 4,300 of the bidders in the auction participated online and purchased close to CA$44 million (US$39+ million) of equipment.

Equipment in the auction was sold for nearly 900 sellers, including close to 100 items for Vastco Energy Group Ltd., a Nisku, Alberta-based oilfield hauling and rig moving company.

"We recently purchased this oilfield hauling company and sold a lot of surplus equipment in this auction to right-size and optimize our operations," said Bryan Winters, President of Vastco Energy Group Ltd. "We sell with Ritchie Bros. because they get us excellent returns on our equipment. The power of their advertising is second-to-none. Last week Ritchie Bros. did an excellent job selling our equipment, we would absolutely sell with them again."

The Edmonton September auction featured a record-setting number of equipment items and trucks, including 170+ truck tractors, 95+ compactors, 80 excavators, 50+ loaders, 40+ bulldozers, 30 articulated dump trucks, 25+ agricultural tractors, and more. One specific sale highlight: four Caterpillar 657G motor scrapers sold for a combined $3.6+ million ($920,000 each) to an online buyer from Texas.

AUCTION QUICK FACTS: EDMONTON, ALBERTA - SEPTEMBER 10 - 12, 2014

Total Gross Auction Proceeds - CA$83+ million (US$75+ million)
Amount sold to online bidders - approx. CA$44 million (US$39+ million)
Total registered bidders (onsite and online total) - 7,300+
Unique registered online bidders - 4,300+
Total number of buyers - 2,300+
Total number of online buyers - approx. 1,400
Number of lots sold - approx. 6,400
Number of sellers - approx. 900

The Ritchie Bros. auction calendar currently features more than 95 unreserved public auctions around the world, including the Company's next unreserved public auction in Edmonton, Alberta, which is scheduled for October 28 - 30, 2014. Visit www.rbauction.com for a complete list of upcoming auctions.

About Ritchie Bros.

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is the world's largest seller of used equipment for the construction, transportation, agriculture, material handling, energy, mining, forestry, marine and other industries. Ritchie Bros.^TM solutions make it easy for the world's builders to buy and sell equipment with confidence, including live unreserved public auctions with on-site and online bidding (rbauction.com), the EquipmentOne^TM secure online marketplace (EquipmentOne.com), a professional corporate asset management program, and a range of value-added services, including equipment financing for customers through Ritchie Bros. Financial Services (rbauctionfinance.com). Ritchie Bros. has operations in more than 25 countries, including 44 auction sites worldwide. Learn more at RitchieBros.com.

ATTENTION MEDIA: Photos 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