Construction/Building — March 3, 2010

Ritchie Bros. to conduct first multi-million dollar Edmonton public auction of 2010

Close to 3,900 items create opportunity for buyers to meet their equipment needs

EDMONTON, March 3 /CNW/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will be conducting an unreserved public equipment auction at its permanent auction site in Edmonton from March 10 to March 12, 2010. Close to 3,900 equipment items from more than 480 equipment owners will be sold over three days to the highest bidders -- regardless of price -- with no minimum bids or reserve prices.

"This is the first unreserved Edmonton auction of 2010 and so far it's shaping up to be another spectacular sale with a diverse range of well-maintained gear from every industry, including numerous late model, low hour pieces," said Jake Lawson, Ritchie Bros. Regional Manager.

Highlights of the upcoming Edmonton auction include 120 crawler tractors, over 70 hydraulic excavators, wheel loaders, motors scrapers, compaction equipment and light-duty service and pickup trucks being sold on Day 1 (March 10th). A large selection of aggregate, crushing and paving equipment, tractors and agricultural machinery and over 90 items of camp equipment including office buildings and living quarters will be sold on Day 2 (March 11th). Also being sold on Day 2 is an assortment of heavy trucks including winch and truck tractors, dump, bed, boom, vacuum and tank trucks. All trailers including low-beds, step-decks, oilfield floats, gravel and tank trailers will be sold on Day 3 (March 12th). More equipment is being added and will continue to fill the 125+/--acre Edmonton site right through to auction day.

"As a result of a few of our customers undergoing fleet realignments, we have a large line-up of crawler tractors and aggregate, crushing and paving equipment in this auction -- more than the normal volume we get in an Edmonton sale," said Mr. Lawson. "The auction will provide a fantastic opportunity for buyers in the market for these and other types of equipment to get what they need for the price they are willing to pay."

Smaller items and consumer goods will be sold at the auction through the Company's new Timed Auction system. Bids can be placed on the Timed Auction lots online at rbauction.com, through internet kiosks at the auction site, by using free public wireless access at the site or by proxy.

Equipment consignments are still being accepted; owners interested in selling their equipment in the auction can contact the Edmonton auction site at +1.780.955.2486 to discuss their options.

In 2009, Ritchie Bros. held six unreserved public auctions at the Edmonton site and achieved the highest gross auction proceeds ever generated by a Ritchie Bros. auction site in a single year. One of those auctions included the largest auction in Canadian history held in April, when more than 8,500 bidders from 23 countries purchased CA$93 million (US$78 million) of equipment and trucks.

    Auction details:
    ----------------
    -  Location: Ritchie Bros.' Edmonton auction site at 1500 Sparrow Drive,
       Nisku, AB
    -  Edmonton auction site tel: +1.780.955.2486
    -  Time and date: Wednesday, March 10 to Friday, March 12, 2010. Auction
       start time: 8:00 a.m. daily
    -  Unreserved auction is open to the public; registration to bid is free
    -  Anyone can come to the auction site the week before auction day to
       inspect, test and compare items
    -  Interested buyers can bid in person at the Edmonton site, online in
       real time at rbauction.com or by proxy
    -  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 40 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.

For further information: Kim Schulz, Manager, Corporate Communications, Ritchie Bros. Auctioneers, Phone: (778) 331-5442 or email kschulz@rbauction.com OR Jake Lawson, Regional Manager, Ritchie Bros. Auctioneers, Edmonton auction site, tel: (780) 955-2486

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