Mr. Bill Hogan reports

US$57+ MILLION OF EQUIPMENT SOLD AT RITCHIE BROS. AUCTION IN FORT WORTH, TX

Ritchie Bros. Auctioneers Inc. conducted its first Fort Worth, Tex., auction of the year this week, selling more than 3,750 equipment items and trucks over two days for over $57-million (U.S.).

More than 5,200 people from 62 countries registered to bid in the March 13 to March 14, 2018 auction, including over 3,800 people registering to bid on-line. U.S. buyers purchased 91 per cent of the equipment, including 48 per cent purchased by Texas buyers, while international buyers from such countries as Mexico, Canada and the United Arab Emirates purchased 9 per cent of the equipment. On-line buyers purchased 57 per cent of the assets.

"We had huge attendance for our Fort Worth auction this week and saw strong equipment pricing across the board, with particularly strong pricing for yellow iron," said Bill Hogan, regional sales manager, Ritchie Bros. "Construction equipment continues to sell extremely well this year, especially late-model gear. We feel confident that we will continue to see the positive pricing trend in our upcoming IronPlanet weekly auctions, including a big two-day event next week, as well as our on-site events around the world. Now is a great time for contractors looking to sell -- our consignors in Fort Worth were very happy with their auction results this week."

Ritchie Bros. sold equipment for over 590 owners in the Fort Worth auction. Highlights included over 360 truck tractors, 335 trailers, over 145 aerial work platforms, over 110 excavators, over 135 compactors, 100 skid steers, over 70 loader backhoes, over 45 dump trucks, over 65 loaders and over 50 dozers. All items were sold without minimum bids or reserve prices.

Specific equipment sales highlights:

• Two 2014 Caterpillar 627K motor scrapers sold for a combined $1.33-million (U.S.).
• Five Caterpillar 980K wheel loaders sold for a combined $1.08-million (U.S.).
• Two 2010 Caterpillar 927K wheel loaders sold for a combined $440,000 (U.S.).
• Two Caterpillar 14M VHP motor graders sold for a combined $402,500 (U.S.).
• A 2008 Caterpillar D9T crawler tractor sold for $395,000 (U.S.).
• Two Terex RT780 80-ton four-by-four-by-four rough-terrain cranes sold for a combined $300,000 (U.S.).
• A 2012 KPI-JCI Astec Prosizer 4200 portable HIS plant impact crusher sold for $300,000 (U.S.).
• A 2012 Ditch Witch JT100 crawler directional drill sold for $160,000 (U.S.).
• A 2012 Caterpillar 349E hydraulic excavator sold for $152,500 (U.S.).
• Two 2016 Kenworth W900 sleeper truck tractors sold for a combined $157,500 (U.S.).

Auction quick facts: Fort Worth, Tex. (March, 2018):

• Total gross transactional value -- over $57-million (U.S.);
• Amount sold to on-line bidders -- over $32-million (U.S.) (57 per cent);
• Total registered bidders (in person and on-line) -- over 5,200;
• Registered on-line bidders -- over 3,800;
• Total lots sold -- over 3,750;
• Number of sellers -- over 590.

Ritchie Bros. currently has more than 40,000 equipment items, trucks and other assets listed for sale in its upcoming on-site unreserved auctions, IronPlanet weekly on-line auctions and its other marketplaces. For a complete list of upcoming auctions and equipment available, 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.