Mr. Ian Malinski reports

RITCHIE BROS. SELLS CA$72+ MILLION OF EQUIPMENT IN JUNE EDMONTON AUCTION

Ritchie Bros. Auctioneers Inc. conducted its third Edmonton auction of the year this week, selling over 5,500 equipment items and trucks for over $72-million (over $54-million (U.S.)) over two days (June 13 to June 14, 2017).

More than 7,250 people from 50 countries registered to bid in the auction, including over 5,350 people who registered to bid on-line. Approximately 66 per cent of the equipment (over $47-million or over $35-million (U.S.)) was sold to on-line bidders. Canadian buyers purchased 89 per cent of the equipment, with bidders from Alberta (59 per cent), British Columbia (13 per cent) and Saskatchewan (8 per cent) being the biggest Canadian buyers. International buyers from such countries as Belgium, New Zealand and the United Arab Emirates purchased 11 per cent.

"We are beginning to see slight signs of improvement in the Alberta market as contractors get back to work," said Ryan Eacrett, regional sales manager, Ritchie Bros. "Typically our June sales are a little smaller in size as spring and summer work picks up, but this week we saw strong participation from around the globe on-line and from local bidders on-site resulting in solid pricing, particularly for construction assets. This week we also sold some great lakefront real estate in Buffalo Lake, Alta., that achieved strong pricing -- it's usually a good sign for the economy when people are willing to spend money on recreational property."

Equipment in the auction was sold for over 950 owners. The selection included over 200 compactors, over 80 excavators, over 50 dozers, over 50 skid steers, over 55 dump trucks, over 45 loaders, over 20 cranes, over 25 agricultural tractors, over 185 truck tractors, over 580 trailers and much more. All items were sold without minimum bids or reserve prices.

Specific equipment highlights:

• Two 2012 Caterpillar 740BEJ ejector six-by-six articulated dump trucks sold for a combined $592,500.
• A 2012 John Deere 870G LC VG hydraulic excavator sold for $325,000.
• A 2003 Caterpillar 627G motor scraper sold for $320,000.
• A 2007 Caterpillar D7R XR Series II crawler tractor sold for $315,000.
• A 2010 Temisko LB-T3W-54 100-ton tridem double-drop steerable lowboy sold for $305,000.
• A 2005 Caterpillar 815F compactor sold for $300,000.
• A 2012 Kenworth T800 T/A tridrive with Manitex 4596T boom truck sold for $295,000.
• A 2012 Western Star 4900SA tridrive sleeper hydro vac truck sold for $225,000.

Auction quick facts: Edmonton, Alta. (June, 2017)

• Gross auction proceeds -- over $72-million (over $54-million (U.S.));
• Amount sold to on-line bidders -- over $47-million (over $35-million (U.S.));
• Total registered bidders (on-site and on-line) -- over 7,250;
• On-line registered bidders -- over 5,350;
• Number of lots sold -- over 5,500;
• Number of sellers -- over 950.

About Ritchie Bros. Auctioneers Inc.

Established in 1958, Ritchie Bros. is the world's largest industrial auctioneer and one of the world's largest sellers of used equipment for the construction, transportation, agriculture, energy, mining, forestry and other industries.