Ritchie Bros. conducts its largest ever agriculture auction

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Dec 04, 2013, 07:00 ET

More than CA$43 million (US$40+ million) of equipment and trucks sold in unreserved public auction in Saskatoon, SK on December 3, 2013

SASKATOON, Dec. 4, 2013 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest auctioneer of agriculture, construction and other heavy equipment, conducted its largest ever agriculture auction, in Saskatoon, SK, on December 3, 2013, selling more than CA$43 million (US$40+ million) of equipment and trucks in a single day. The unreserved public auction also set a new Saskatoon site record for number of bidders: more than 4,350 bidders from 27 countries registered to participate in the auction. Every item in the auction was sold without minimum bids or reserve prices. Bids were made in person at the Company's permanent Saskatoon auction site, online in real time at www.rbauction.com and by proxy.

"To the best of our knowledge, this was the world's largest one-day agriculture equipment auction. Saskatoon has quickly become the agricultural hub of the Ritchie Bros. auction network," said Jordan Clarke, Regional Sales Manager, Ritchie Bros. Auctioneers. "This was a great year for harvests and optimism for the farm industry is at an all-time high. Bidding was fierce on all equipment categories as farmers were looking to get quality equipment now to put to work next season."

More than 4,350 bidders from 27 countries, including all Canadian provinces and two territories, registered to participate in person or online in the auction—a new site record for Saskatoon. Bidders from outside Saskatchewan purchased more than CA$16 million (US$15+ million) or 38 percent of total gross auction proceeds. More than 2,550 of the bidders taking part in the auction registered to bid online and purchased more than CA$18 million (US$17+ million) of equipment available online.

In total, more than 1,500 equipment items and trucks were sold in the auction for 190 sellers, including equipment for John Deere dealer JayDee AgTech.

"We are very happy with the results on the sale of our equipment—we are especially pleased to be getting great returns on all the work we did to properly maintain and prepare our equipment ahead of the auction," said Travis Moberg, Re-Marketing Manager of JayDee AgTech. "The auction site was jam packed with bidders today—it's the most people I've ever seen at a Ritchie Bros. auction in Saskatoon. On a day like today, when it's cold and snowy outside, Ritchie Bros. can still attract a huge crowd of qualified bidders."

Equipment highlights in the auction included 128 combines, 83 agricultural tractors, 60 headers, 40 swathers, 32 sprayers, 21 air drills and more.

AUCTION QUICK FACTS: SASKATOON, SK - December 3, 2013

Gross Auction Proceeds - CA$43+ million (US$40 million) *new Company record for largest agriculture auction
Amount sold to online bidders - CA$18+ million (US$17+ million)
Unique bidders (total) - 4,350+ *new site record
Unique online bidders - 2,550+
Lots sold - 1,500+
Number of sellers - 190

Consignments for the next Saskatoon auction on March 25, 2014 are already being accepted; to sell your equipment and trucks with Ritchie Bros., please contact: +1.306.933.9333. The Ritchie Bros. auction calendar currently features more than 70 unreserved public auctions around the world. 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