Mr. Trent Vandenberghe reports

RITCHIE BROS. SELLS CA$66+ MILLION OF EQUIPMENT IN FINAL EDMONTON AUCTION OF THE YEAR

With its sixth and final Edmonton auction of the year last week, Ritchie Bros. Auctioneers Inc. sold over 4,500 equipment items and trucks for over $66-million (over $52-million (U.S.)), bringing the site's 2017 total to over 37,000 items sold for over $553-million (over $421-million (U.S.)).

More than 7,850 bidders registered to participate in last week's (Dec. 7 to Dec. 8) Edmonton auction, including over 5,850 on-line bidders. Approximately 89 per cent of the equipment in the auction was sold to Canadian buyers, with bidders from Alberta (58 per cent), British Columbia (12 per cent) and Saskatchewan (9 per cent) being the biggest Canadian participants, while international buyers from countries such as Egypt, Poland and Hong Kong purchased 11 per cent of the equipment. More than 71 per cent of the equipment in the auction was sold to on-line buyers.

"On-line and on-site bidders were eager to snatch up equipment for winter work, resulting in strong pricing both days of the auction last week," said Trent Vandenberghe, sales director, Ritchie Bros. "We continue to see relatively tight equipment supply as many companies are hanging onto surplus equipment in anticipation of upcoming projects. This continues to result in higher demand at our auctions and an uptick in pricing across many equipment categories."

Equipment in the December auction was sold for close to 700 owners, including 35 items for the Alberta-based, family-owned, oil field transportation company Calnash Trucking Ltd., in business for 45 years.

"Ritchie Bros. is a first-class company to deal with," said Kevin Nashim, president of Calnash Trucking. "Their auctions are well organized, their advertising gets you top dollar for your equipment, and they're just good people to work with."

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

• Gross transactional value -- over $66-million (over $52-million (U.S.));
• Amount sold to on-line bidders -- over $47-million ($37-million (U.S.));
• Total registered bidders (on-site and on-line) -- over 7,850;
• On-line-registered bidders -- over 5,850;
• Number of lots sold -- over 4,500;
• Number of sellers -- 698.

2017 Edmonton, Alta., totals:

• Total gross transactional value -- over $553-million (over $421-million (U.S.));
• Amount sold to on-line bidders -- over $342-million (over $262-million (U.S.));
• Total registered bidders (on-site and on-line) -- over 56,100;
• On-line-registered bidders -- over 40,200;
• Number of lots sold -- over 37,000.

"We helped tens of thousands of customers through our Edmonton auction site in 2017," said Mr. Vandenberghe. "From everyone at Ritchie Bros., we would like to thank you for your patronage and look forward to seeing you again in 2018."

About Ritchie Bros. Auctioneers Inc.

Established in 1958, Ritchie Bros. is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with on-line bidding; IronPlanet, an on-line marketplace with featured weekly auctions and providing its exclusive IronClad Assurance equipment condition certification; Marketplace e, an on-line marketplace offering multiple price and timing options; Mascus, a leading European on-line equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers and Cat auctions, plus equipment financing and leasing through Ritchie Bros. Financial Services.