Ritchie Bros Auctioneers Inc
SymbolRBA
Shares Issued105,341,870
Close 2009-10-23C$ 24.81
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Ritchie Bros sells over 800 items at Denver auction

2009-10-26 08:31 ET - News Release

Mr. Steve Merich reports

INTERNATIONAL BIDDERS COMPETE FOR LATE-MODEL CRANES AT RITCHIE BROS. UNRESERVED AUCTION IN DENVER

Ritchie Bros Auctioneers Inc. sold more than 800 equipment items, including more than 30 cranes, in a multimillion-dollar unreserved public auction at its permanent auction site in Denver, Colo., on Tuesday, Oct. 20, 2009. The unreserved auction attracted more than 1,600 on-site and on-line bidders from more than 25 countries as far away as the United Arab Emirates, Mexico, Saudi Arabia, Egypt, Australia, Ecuador and Canada.

"End-users from all over the world participated on site and over the Internet on auction day and were particularly interested in the large selection of unused and late model cranes being sold. Bidding was very competitive with most of the cranes being purchased by out-of-state buyers who were present on site," said Steve Merich, regional manager, Ritchie Bros. Auctioneers. "Over all, we were very pleased with the outcome of the auction. The performance on the cranes far exceeded our expectations and those of our consignors. It demonstrates the effectiveness of our global market strategy, even in a tough economy."

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