Mr. Alan McVicker reports

RITCHIE BROS. SELLS US$45+ MILLION OF EQUIPMENT IN LATEST HOUSTON, TX AUCTION

Ritchie Bros. Auctioneers Inc. sold more than 5,300 equipment items for over $45-million (U.S.) at its latest Houston, Tex., auction on Aug. 20 to Aug. 21, 2019.

More than 7,250 people registered to bid in the two-day auction, including over 5,850 registering to participate on-line. U.S. buyers purchased approximately 88 per cent of the equipment, including 47 per cent purchased by Texas buyers, while international buyers from such countries as Australia, Germany and Vietnam purchased 12 per cent of the equipment. On-line buyers purchased 61 per cent of the assets.

"We had record crowds for our Houston auction this week, resulting in a couple of good auction days," said Alan McVicker, regional sales manager, Ritchie Bros. "We were able to build strong momentum for this sale as a result of an early consignment from well-known local contractor Glenn Fuqua, who was doing a complete dispersal of his construction division. We ended up with more than 7,250 equipment items from 608 consignors in this week's auction, which is a record for August. We also have 118 items from Texas in our weekly IronPlanet auction happening today."

Mr. McVicker continued: "Our Houston auction also featured a great package of workover rigs and well service support equipment for Martex Well Services LLP. Both Glenn Fuqua and Martex were very pleased with the results we achieved for them. Thank you to all the sellers and buyers in this week's Houston sale."

Equipment highlights in the Houston auction included over 335 truck tractors, over 315 trailers, over 330 aerial work platforms, over 90 excavators, over 90 skid steers, over 60 loader backhoes, over 45 dozers, over 25 cranes and more. All items were sold without minimum bids or reserve prices.

Close to 100 items were sold for Glenn Fuqua Inc. in the Houston auction.

"The auction went very well for us -- we were pleased with the equipment prices and the way all the Ritchie Bros. employees handled our business. We couldn't be happier," said Mr. Fuqua. "I've been working with Ritchie Bros. for decades and have become very good friends with some of their employees. I've been in the highway construction business for 46 years would not hesitate to recommend Ritchie Bros. to any contractor. They are outstanding."

Specific sales highlights:

• A 2016 John Deere 470G hydraulic excavator sold for $190,000 (U.S.);
• A 2015 John Deere 410E six-by-six articulated dump truck sold for $170,000 (U.S.);
• A 2010 Rig Works Mustang 550 workover rig drilling rig sold for $170,000 (U.S.);
• A 2017 Caterpillar 938M wheel loader sold for $155,000 (U.S.);
• A 2009 Sandvik QJ340 crawler jaw crusher sold for $150,000 (U.S.);
• A 2018 Freightliner M2 S/A with Altec LR758 bucket truck sold for $110,000 (U.S.);
• A 2014 Freightliner 108SD 2,000-gallon S/A asphalt distributor truck sold for $102,500 (U.S.);
• A 2017 Kenworth W900 sleeper truck tractor sold for $102,500 (U.S.).

Auction quick facts: Houston, Tex. (August, 2019):

• Total gross transactional value -- over $45-million (U.S.);
• Amount sold to on-line bidders -- over $27-million (U.S.) (61 per cent);
• Total registered bidders (in person and on-line) -- over 7,250;
• Registered on-line bidders -- over 5,850;
• Total lots sold -- over 5,300;
• Number of sellers -- over 600.

Ritchie Bros. currently has more than 50,000 equipment items, trucks and other assets listed for sale through its various marketplaces. The company's next on-site auctions in Texas will be held in Fort Worth on Sept. 24 to Sept. 25 and Houston on Nov. 5 to Nov. 6.

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.