Mr. Alan McVicker reports

HOUSTON HEATS UP AS RITCHIE BROS. SELLS US$46+ MILLION OF EQUIPMENT IN JUNE AUCTION

Summer officially kicked off in Texas as Ritchie Bros. Auctioneers Inc. conducted its third Houston auction of the year this week, selling over 4,700 equipment items and trucks for over $46-million (U.S.) -- making it the largest June auction ever for the site.

Over two action-packed days (June 21 to June 22, 2017), more than 4,250 people from 57 countries registered to bid in the auction, including more than 2,850 people who registered to bid on-line. Approximately 58 per cent of the equipment (over $26-million (U.S.)) was sold to on-line bidders. U.S. buyers purchased 86 per cent of the equipment, including 44 per cent purchased by Texas buyers. International buyers from as far away Australia, Egypt and Vietnam purchased 14 per cent of the equipment.

"We had a very successful auction with a wide range of equipment items and trucks selling for just about every sector," said Alan McVicker, regional sales manager, Ritchie Bros. "Enthusiastic bidder turnout both on-site and on-line, along with strong pricing, helped make this our largest June auction ever in Houston. We had an impressive lineup of cranes that attracted a lot of attention from around the world; we were particularly pleased with the price we got for a customer selling a Manitowoc 16000 440-ton crawler crane that went for $2.25-million (U.S.). I would like to offer a big thank you to all of our consignors, bidders and buyers that continue to make our auctions great events."

Equipment in the auction was sold for over 550 owners. The selection included over 120 excavators, over 75 cranes, over 55 dozers, over 50 compactors, over 50 skid steers, over 55 dump trucks, over 325 truck tractors, over 330 trailers and much more. All items were sold without minimum bids or reserve prices.

Specific equipment highlights:

• A 2013 Manitowoc 16000 440-ton self-erecting crawler crane sold for $2.25-million (U.S.).
• Three 2013 Grove RT540E4 40-ton four-by-four rough-terrain cranes sold for a combined $577,500 (U.S.).
• Two 2014 Caterpillar D6T XW dozers sold for a combined $545,000 (U.S.).
• A 2014 Caterpillar MH3059 material handler sold for $360,000 (U.S.).
• Two 2012 Volvo A30F six-by-six articulated dump trucks sold for a combined $330,000 (U.S.).
• A 2016 Peterbilt 389 sleeper truck tractor sold for $95,000 (U.S.).

Auction quick facts: Houston, Tex. (June, 2017)

• Gross auction proceeds -- over $46-million (U.S.);
• Amount sold to on-line bidders -- over $26-million (U.S.);
• Total registered bidders (on-site and on-line) -- over 4,250;
• On-line registered bidders -- over 2,850;
• Number of lots sold -- over 4,700;
• Number of sellers -- over 550.

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.