Mr. Dolan Aucoin reports

RITCHIE BROS. SELLS US$44+ MILLION OF EQUIPMENT IN FORT WORTH, TX AUCTION

Ritchie Bros. Auctioneers Inc. sold over $44-million (U.S.) of equipment and trucks over two days at its live, unreserved auction in Fort Worth, Tex., this week.

More than 4,750 people from 59 countries registered to bid in the May 15 to May 16, 2018 event, including over 3,450 people registering to bid on-line. U.S. buyers purchased approximately 87 per cent of the equipment, including 49 per cent purchased by Texas buyers, while international buyers from such countries as Mexico, Thailand and New Zealand purchased 13 per cent of the equipment. On-line buyers purchased 54 per cent of the assets.

"We had a great turnout this week -- with attendance up approximately 12 per cent year over year -- resulting in strong pricing across most equipment categories," said Dolan Aucoin, sales director, Ritchie Bros. "Speaking with contractors at the auction, many of them have a nice backlog of projects which is keeping demand high at our auctions. We also saw solid pricing on the transportation gear and oil-field-related equipment featured in the auction.

"We would like to thank all our buyers and sellers in Fort Worth this week and encourage equipment buyers to check out the more than 1,000 items being sold on-line through IronPlanet tomorrow."

In total, Ritchie Bros. sold over 3,750 items for over 565 owners in Fort Worth this week. Highlights included over 300 truck tractors, over 120 excavators, over 95 skid steers, over 55 loader backhoes, over 50 compactors, over 40 wheel loaders, 35 dozers, as well as cranes, oil- and gas-related equipment, and more. All items were sold without minimum bids or reserve prices.

Specific sales highlights:

• A 2007 Kobelco CK2500 II 250-ton crawler crane sold for $760,000 (U.S.).
• Three Caterpillar 140M2 VHP Plus motor graders sold for a combined $392,500 (U.S.).
• Two Komatsu D155AX-7 dozers sold for a combined $385,000 (U.S.).
• A 2011 Caterpillar D8T dozer sold for $250,000 (U.S.).
• A 2011 Peterbilt 367 with Manitex 5096S 50-ton boom truck sold for $180,000 (U.S.).
• A 2013 Kobelco SK350-9 hydraulic excavator sold for $132,500 (U.S.).

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

• Total gross transactional value -- over $44-million (U.S.);
• Amount sold to on-line bidders -- over $24-million (U.S.) (54 per cent);
• Total registered bidders (in person and on-line) -- over 4,750;
• Registered on-line bidders -- over 3,450;
• Total lots sold -- over 3,750;
• Number of sellers -- over 565.

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, Marketplace-E 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. 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 offering 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.