Mr. Ian Malinski reports

RITCHIE BROS. SELLS CA$109+ MILLION OF EQUIPMENT IN EDMONTON, AB OCTOBER AUCTION

Ritchie Bros. Auctioneers Inc. sold more than $109-million (over $98-million (U.S.)) of heavy equipment and trucks in Edmonton, Alta., on Oct. 28 to Oct. 30, 2014. The unreserved public auction set new records for most items ever sold in a Canadian auction (close to 6,700) and most gross auction proceeds generated by an auction held in Canada in October.

"With companies turning over or upgrading their fleets for the winter season, our October auction is traditionally our second-largest sale of the year," said Jim Rotlisberger, regional sales manager, Ritchie Bros. Auctioneers. "This year we're on track to sell more equipment in Edmonton than ever before. We've sold more than 28,200 equipment items and trucks in five auctions and we still have one more sale in December. With our final Edmonton sale only six weeks away, we are already accepting consignments." More than 7,600 bidders from 54 countries, including all Canadian provinces and territories, as well as 45 American states, registered to bid in person or on-line for the auction.

More than $70-million (over $62-million (U.S.)) of equipment and trucks was purchased by Alberta buyers, while participants from outside the province purchased over $39-million (over $35-million (U.S.)) for 36 per cent of total gross auction proceeds. Close to 4,800 of the bidders in the auction participated on-line and purchased over $57-million (over $51-million (U.S.)) of equipment.

Equipment in the auction was sold for 870-plus sellers, including late-model truck tractors and tank trailers for AC Dow Trucking Ltd., a fluid transportation company based in Lloydminster, Alta., getting out of the business after 36 years.

"I've purchased items at Ritchie Bros. over the past 15 years, but this was the first time I've ever sold with them and I'm pleased with the results," said Barry Dow, president of AC Dow Trucking. "There was a large crowd at the auction this week, and bidders were very active, especially on the trucks. Ritchie Bros. does a great job of advertising, and their team always provides excellent service."

The October auction featured 150 truck tractors, over 115 excavators, over 85 crawler tractors, over 40 wheel loaders, over 35 articulated dump trucks, over 20 agricultural tractors and more.

Auction quick facts: Edmonton, Alta., Oct. 28 to Oct. 30, 2014:

Total gross auction proceeds:  Over $109-million (over $98-million (U.S.)) (new Canadian record for month of October)

Amount sold to on-line bidders:  Over $57-million (over $51-million (U.S.))

Total registered bidders (on site and on-line total):  Over 7,600

Unique registered on-line bidders:  Close to 4,800

Total number of buyers:  Over 2,400

Total number of on-line buyers:  Over 1,500

Number of lots sold:  Close to 6,700 (new Canadian record)

Number of sellers:  Over 870

The Ritchie Bros. auction calendar currently features more than 90 unreserved public auctions around the world, including the company's next unreserved public auction in Edmonton, Alta., which is scheduled to take place Dec. 11 to Dec. 12, 2014. Visit the company's website for a complete list of coming auctions.