Mr. Chad Apland reports

RITCHIE BROS. HOLDS RECORD-BREAKING AUCTION IN TIPTON, CA

The record-breaking selection of equipment at Ritchie Bros. Auctioneers Inc.'s auction in Tipton, Calif., last week brought out huge crowds and helped the company set a new Tipton site sales record. In total, more than 2,200 equipment items and trucks were sold in the Feb. 16 auction for over $22-million (U.S.).

Approximately 3,950 bidders from 38 countries registered to participate in the Tipton auction, including over 2,600 on-line bidders who purchased more than $9-million (U.S.) of the equipment. U.S. bidders purchased approximately 90 per cent of the equipment in the auction, including 56 per cent purchased by California buyers. International bidders from such countries as Ecuador, Belgium and New Zealand purchased 10 per cent of the equipment.

"We signed some large, late-model and diverse packages of equipment from local dealerships early, helping us attract a record number of consignors for this Tipton auction," said Chad Apland, regional sales manager, Ritchie Bros. "We saw huge attendance on-site, bolstered by the auction being held directly after World Ag Expo, as well as strong attendance on-line from across the U.S. and around the world. As a result, we achieved solid equipment pricing and record results. I'd like to thank all the consignors and buyers that took part in this record-breaking auction."

Equipment was sold for over 425 consignors. Highlights included over 260 agricultural tractors, over 35 headers, over 15 swathers, over 115 truck tractors, over 130 trailers, over 30 scrapers, as well as dozers, loaders, and more. Every item was sold without minimum bids or reserve prices.

Auction quick facts: Tipton, Calif. (February, 2018):

• Gross transactional value -- over $22-million (U.S.) -- new Tipton site record;
• Amount sold to on-line bidders -- over $9-million (U.S.);
• Total registered bidders (on-site and on-line) -- over 3,950 -- new Tipton site record;
• On-line registered bidders -- over 2,600 -- new Tipton site record;
• Number of lots sold -- over 2,200 -- *new Tipton site record;
• Number of sellers -- over 425 -- *new Tipton site record.

Ritchie Bros. currently has dozens of upcoming events on its auction calendar, including its six-day mega-auction currently under way in Orlando, Fla. For more details on Ritchie Bros. auctions, visit the company's website.

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, 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.