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Lighthouse - June, 2011.

Multi Million Dollar Auction In Dubai

Established in 1958, Ritchie Bros. Auctioneers 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.

Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer conducted an unreserved equipment auction on May 10 – 11, 2011 at its auction site in Dubai, UAE. More than 1,700 items from 200+ owners were featured in the auction, including 700 transportation items, of which, 80 are late model MAN TGA33.400 6X4 truck tractors. The highlights include several late model Komatsu rock trucks and a diverse selection of heavy equipment items. The bids were placed at the Dubai auction site on auction day, online in real time at www.rbauction.com and by proxy.

The auction also featured hundreds of heavy industrial equipment items, including, 70+ hydraulic excavators, 50+ wheel loaders, 25 plus dump trucks, 25 plus rock trucks, 25 mixer trucks, nearly 20 crawler tractors and many more items. This is the second Ritchie Bros. sale conducted at the site this year. At a previous Dubai auction held on March 8 – 9, 2011, more than US$57 million of heavy equipment and trucks were sold—the highest amount of gross auction proceeds ever generated from a Dubai auction.

“Besides a broad range of heavy construction and mining equipment items, our customers are also able to bid on a large selection of transportation items,” said Steve Barritt, Regional Manager, Ritchie Bros. Auctioneers. “A highlight in the Dubai sale was the package of 80 late model MAN truck tractors. As always, there are no minimum bids or reserve prices in our auctions and all items are sold on auction day. The Dubai auction will be a great opportunity for anyone looking to buy trucks, trailers and other assets they need.”

The Heavy Equipment Logistics department led by V.P. Business Development Ken Dinnadge along with Hinna Hussain, Key Account Manager and Rahul Mathew, Key Account Manager attended the two-day auction. As per Ken “ This was a great opportunity to network with the buyers and sellers at the auction as it gives us a platform to promote CSS and its first class services offered.  We were able to assist and secure logistical solutions for the buyers and sellers to ensure their equipment’s reach from point A to B in a safe and cost effective manner. Basically we provide ‘Local Knowledge with Global Expertise!’ added Ken.

A Ritchie Bros. auction is an exciting event: millions of dollars of equipment, thousands of bidders, an item selling almost every minute – often for tens or hundreds of thousands of dollars.

Here are some interesting facts and records about Ritchie Brothers:

THEIR FIRST AUCTION
1958 in Kelowna, British Columbia, Canada – CA$2,000 of furniture sold

THEIR FIRST AUCTION OUTSIDE NORTH AMERICA
1987 – in Liverpool, the United Kingdom

THE LARGEST AUCTION IN RITCHIE BROS. HISTORY
US$190 million of equipment sold over five days at our Orlando, Florida auction site (February 2008)

THEIR LARGEST CANADIAN AUCTION
CA$93 million (US$79 million) of equipment sold over three days at our Edmonton, Alberta auction site (April 2009)

THEIR LARGEST AUCTION IN EUROPE
US$67 million of equipment sold over three days at our Moerdijk, the Netherlands auction site (November 2004)

THE HIGHEST BID EVER PLACED AT A RITCHIE BROS. AUCTION
34 million Euros (US$46 million) – for the 220-ft mega yacht Apoise, at an auction in Grand Cayman, Cayman Islands (March 2010)

THE HIGHEST BID PLACED ON A PIECE OF EQUIPMENT AT A RITCHIE BROS. AUCTION
US$3.7 million – for a Liebherr LR 1800, 800-ton crawler crane at an auction in Sacramento, California (April 2006)

THE MOST BIDDERS AT ONE AUCTION
More than 8,500 people registered to bid on-site or online at an auction at our Edmonton, Alberta auction site (April 2009)

THE MOST LOTS EVER SOLD AT A RITCHIE BROS. AUCTION
Over 8,300 heavy equipment items and trucks sold over six days at our Orlando, Florida auction site (February 2009)

MOST EQUIPMENT SOLD TO ONLINE BIDDERS AT ONE AUCTION
US$36 million of equipment sold to online bidders participating in an auction at our Orlando, Florida auction site (February 2009)

THEIR LARGEST AUCTION SITE
Orlando, Florida – 200 acres

THEIR FIRST PERMANENT AUCTION SITE
Edmonton, Alberta – opened in 1976

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