Ritchie Bros. March Auctions in Europe and the Middle East Attract Bidders From 86 Countries

BREDA, The Netherlands, April 11, 2011 /PRNewswire/ -- Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, attracted more than 4,200 bidder registrations from 86 countries at five separate unreserved equipment auctions held in Europe and the Middle East last month. In total, 6,600+ equipment items and trucks were sold for 900+ consignors at auctions held in Saint Aubin Sur Gaillon, France (March 8); Dubai, United Arab Emirates (March 8 - 9); Caorso, Italy (March 10); Ocana, Spain (March 17 - 18); and Meppen, Germany (March 31).

"Our March auctions in Europe and the Middle East were exciting," said Guylain Turgeon, Managing Director EMEA, Ritchie Bros. Auctioneers. "In Dubai, Caorso and Ocana we set several new site records, including number of registered bidders and gross auction proceeds. These auctions featured large quantities of late model equipment and trucks, which attracted large numbers of bidders and allowed us to start strong in the region in 2011. We look forward to further helping our customers buy and sell equipment at upcoming auctions."

There are more than 100 upcoming unreserved public auctions on the Ritchie Bros. auction calendar, including auctions in Moncofa, Spain (April 14 - 15), Moerdijk, The Netherlands (April 20 - 21) and Krakow, Poland (May 6). For a complete list of auctions around the world, including dates and additional details, visit the Company's web site at http://www.rbauction.com.

Ritchie Bros. March auctions in Europe & the Middle East:

    
    Quick Facts
    
    Bidder Registrations                     4,200+
    Online Bidder Registrations              1,300+
    Number of Countries Bidders came from       86
    Lots Sold                                6,600+
    Consignors                                 900+

New Records

- Dubai, UAE: March 8 - 9, 2011: New site records set for gross auction proceeds (US$57 million), number of overall bidders (898) and number of online bidders (239)

- Caorso, Italy: March 10, 2011: New site records set for gross auction proceeds, number of bidders (898) and number of consignors (179)

- Ocana, Spain: March 17 - 18, 2011: New site records set for gross auction proceeds (EUR33.7 million or US$47 million) and number of bidders (1,545)

The Ritchie Bros. active mining equipment marketplace

Ritchie Bros. sold a total of 75 rock trucks at its unreserved auctions in Ocana (Spain) and Dubai (UAE). At the Dubai auction, held March 8 - 9, 2011, the Company sold 20 2009 Caterpillar 777D rock trucks for a combined US$15.7 million. Another 20+ late model Caterpillar 777F rock trucks were sold at the Ocana auction held March 17 -18. Bidders competed on-site and online for the trucks, with successful buyers coming from Australia, Germany, Switzerland, Finland, Venezuela, United States and other countries.

"Demand for used equipment, particularly late model items, is showing steady growth in the global market, which is leading to higher overall price levels at our auctions," adds Mr. Turgeon. "Many businesses are choosing Ritchie Bros. to help them sell assets they no longer need. We expose these assets to a worldwide audience of potential buyers who are attracted to our public unreserved auctions. Our unreserved auctions give equipment owners the ability to sell their equipment on auction day to the highest bidders for global market value."

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 http://www.rbauction.com and sponsors an equipment wiki at http://www.RitchieWiki.com

ATTENTION MEDIA: Photos and other media resources are available for use at http://www.rbauction.com/media.

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