VANCOUVER, Aug. 25 /PRNewswire-FirstCall/ - Ritchie Bros. Auctioneers
(NYSE and TSX: RBA), the world's largest industrial auctioneer, conducted two
large unreserved public auctions in Houston, TX and Phoenix, AZ last week,
with gross auction proceeds of more than US$23 million and close to US$35
million, respectively. Almost 2,000 bidders participated in the Houston
auction and more than 1,600 took part in the Phoenix auction; bidders came
from all over the world, helping consignors achieve global fair market value
on their truck and equipment items. Seven hundred of the registered bidders at
each auction participated live and online, using the Company's real-time
bidding service rbauctionBid-Live.
HOUSTON, TEXAS
Interested buyers from 36 countries, including 46 US states, registered to
bid in the US$23 million Houston auction on August 20-21, 2008. More than
2,300 truck and equipment items were sold over the two days, with more than
US$5 million sold to online purchasers (representing 25 percent of items
available for sale online).
'We sold equipment for more than 300 consignors,' said Alan McVicker,
Ritchie Bros. Regional Manager. 'We had a large auction crowd on both days.
The fact that we are located near the port in Houston makes it convenient for
international buyers to take part.'
Carl Harris, owner and president of Bravos River Constructors, has been in
the paving and construction business since 1956. When it came time to retire,
Mr. Harris did his research to determine the best method for a complete
dispersal sale of his equipment. He looked at a number of options, including
online-only auctioneers, but in his mind, Ritchie Bros. was the only way to
sell.
'I am very satisfied with the prices I received for my equipment at the
Houston auction; it exceeded my expectations,' said Mr. Harris. 'Working with
Ritchie Bros. was easy from the word 'go.' From the contract and the paperwork
to handling the release of any liens...Ritchie Bros. took care of it all. I
really didn't have to do a thing. All of the personnel at Ritchie Bros. were
very courteous and always professional.
