BWI: Ritchie Bros. to Conduct Third Unreserved Public Auction in India

Press release from Business Wire India
Source: Ritchie Bros.
Thursday, June 03, 2010 03:57 PM IST (10:27 AM GMT)
Editors: General: Consumer interest; Business: Banking & financial services, Business services, Information technology, Media & entertainment, Retailers; Technology
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Ritchie Bros. to Conduct Third Unreserved Public Auction in India
All Heavy Equipment Items and Trucks to be Sold to the Highest Bidders-Regardless of Price

Hyderabad, Andhra Pradesh, India, Thursday, June 03, 2010 -- (Business Wire India) -- After two successful unreserved public equipment auctions in India, Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, returns to Hyderbad to hold another equipment auction on Wednesday, June 9, 2010. A large selection of construction, transportation and agricultural equipment items and trucks will be sold, with no minimum bids or reserve prices.

"We've received great feedback at previous auctions, including many requests to hold more auctions, that's why we are back for our third unreserved public auction in India." said Sameer Malhotra, Country Manager, Ritchie Bros. Auctioneers. "In the last six years we've seen a dramatic increase in Indian customers participating in Ritchie Bros. auctions worldwide. Many of them start as equipment buyers at our auctions overseas and, once they see the advantage of selling their assets for global fair market value, they become sellers too. Our customers know our unreserved auctions attract large crowds of bidders from all over the world, which helps achieve the highest returns possible for their surplus assets."

The June 9 Hyderabad auction features a wide variety of industrial assets, including crawler tractors, wheel loaders, hydraulic excavators, rough terrain cranes, concrete pumps, pavers, rollers, mixer trucks, telescopic forklifts and skid steer loaders. Interested buyers can bid in person, online in real time at www.rbauction.com or by proxy.

To familiarize new customers with the auction process, Ritchie Bros. will be holding a free How to Bid workshop with an auction demonstration on Tuesday, June 8 (from 2 - 5 p.m.) at the auction site.

The last Ritchie Bros. Hyderabad auction, held on February 3, 2010, was a multi-million Rupee sale attracting close to 300 on-site and online bidders from 13 countries, including Singapore, Italy, Mexico, Canada and the United States.

In 2009, Ritchie Bros. Auctioneers sold 283,000 items, which generated gross auction proceeds of US$3.5 billion. Recently, the Company launched a new 21-language web site, which features the world's largest used equipment inventory.

Auction details:

. Location: Rajiv Gandhi International Airport, behind PTC, Shamshabad, Ranga Reddy District, Andhra Pradesh, Pin - 500 409, India
. Time and date: Wednesday, June 9, 2010 starting at 9:30 a.m. (local time)
. Hyderabad auction site tel: +91.96.76123412 or fax: +91.80.66885102
. Interested buyers are welcome to inspect, test and compare the equipment items at the auction location.
. Auction is open to the public; registration to bid is free
. Ritchie Bros. will conduct a How to Bid workshop with an auction demonstration on Tuesday, June 8 (from 2 - 5 p.m.)
. More information about the auction, including full equipment details and photos, is available at www.rbauction.com

About Ritchie Bros.

Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the world's largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. The Company has over 110 locations in more than 25 countries, including 41 auction sites worldwide. Ritchie Bros. sells, through unreserved public auctions, a broad range of used and unused industrial assets, including equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. The Company maintains a web site at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.


CONTACT DETAILS
Sameer Malhotra, Country Manager, Ritchie Bros. Auctioneers, +91 (11) 41414444, smalhotra@rbauction.com
Alexander Ypeij, Communications Specialist Europe, Ritchie Bros. Auctioneers, +31.765.242.600, aypeij@rbauction.com
Kim Schulz, Manager, Corporate Communications, Ritchie Bros. Auctioneers, +1.778.331.5442, kschulz@rbauction.com

KEYWORDS
CONSUMER, BANKING, BUSINESS SERVICES, IT, MEDIA, RETAIL, TECHNOLOGY

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