Mr. Alan McVicker reports

US$48+ MILLION IN HEAVY EQUIPMENT AND TRUCKS SOLD AT RITCHIE BROS. UNRESERVED PUBLIC AUCTION IN HOUSTON, TEXAS

Ritchie Bros. Auctioneers Inc. sold more than $48-million (U.S.) of heavy equipment and trucks during an unreserved public auction at the company's permanent auction site in Houston, Tex., on Aug. 27 and 28, 2014. More than 3,900 registered bidders competed for over 3,900 heavy equipment items and trucks, including over 150 hydraulic excavators, over 130 truck tractors, over 50 bulldozers, a large selection of oil field completion, tooling and transportation equipment, cranes, and more. Every item was sold to the highest bidder, regardless of price -- without minimum bids or reserve prices. Bids were made in the auction on site, on-line in real time on the company's website and by proxy.

"Everything went really smoothly and prices were strong across the board," said Alan McVicker, regional sales manager, Ritchie Bros. Auctioneers. "We had huge crowds on site with bidders from more than 60 countries participating throughout the two days."

More than 3,900 people from 60 countries, including all 50 U.S. states, registered to bid in person or on-line in the auction. Bidders from outside Texas purchased close to $25-million (U.S.) or 52 per cent of total gross auction proceeds. More than 2,350 of the bidders taking part in the auction registered to bid on-line and purchased more than $20-million (U.S.) of equipment on-line.

One of the sellers of equipment at the auction was Kirkland Crane & Rigging Inc., based in Huntsville, Tex. Due to the sudden passing of the owner, his wife, daughter and two sons chose Ritchie Bros. to dispose of his fleet of more than 330 items. They sold all-terrain cranes, hydraulic truck cranes, rough terrain cranes and a large selection of crane accessories.

"This was my father's life and his business for over 36 years, and it was his passion," said daughter Shanna Lammers, who was manager at Kirkland Crane. "We were a family company and so this has been hard on all of us. But Ritchie Bros. has shown sensitivity and they took care of everything, from start to finish. It would have been a monstrous undertaking to sell everything ourselves so this option really worked best. Our cranes went to buyers from as far away as Panama, Mexico and New Delhi, and they sold well, with strong pricing. It was pretty exciting to watch the auction even though it was emotional too. So after this two-day auction, now we can relax a bit before I venture off to do something related to my own passion. This auction is allowing me the opportunity to build my own company, so in the next few months we'll be transforming the crane yard into a plant nursery and I'll be coming up with a business name that will pay homage to my dad."

Auction quick facts:

• Houston, Tex., Aug. 27 and 28, 2014;
• Total gross auction proceeds -- over $48-million (U.S.);
• Amount sold to on-line bidders -- over $20-million (U.S.);
• Registered bidders (in person and on-line total) -- over 3,900 registered;
• On-line bidders over -- 2,350;
• Total lots sold -- over 3,900;
• Number of sellers -- over 400.

Consignments for the next unreserved public auction in Houston (Nov. 12 to 13, 2014) are now being accepted. To sell your equipment and trucks with Ritchie Bros., please contact the Houston site at 1-713-455-5200. The Ritchie Bros. auction calendar currently features more than 80 unreserved public auctions around the world.

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