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Canada's Magazine for Financing & Leasing Executives

August 30, 2013

Ritchie Bros. sells US$53 million of industrial assets at Houston auction

HOUSTON--Ritchie Bros. Auctioneers, the world's largest industrial auctioneer, sold more than US$53 million of heavy equipment, trucks and other industrial assets during a two-day unreserved public auction in Houston, Texas on August 28 & 29, 2013. The auction set new Company records for the most items ever sold at a Texas auction (4,700+) as well as the largest online gross auction proceeds at a Houston auction (more than US$21 million). Equipment highlights in the auction included 160+ T/A truck tractors, 70+ agricultural tractors, 60+ rough terrain cranes, a large selection of construction equipment and much more. Every item was sold to the highest bidder, regardless of price—without minimum bids or reserve prices. Bids were made in the auction on-site, online in real time at www.rbauction.com or by proxy.

"This auction—our fourth Houston auction of 2013—featured one of the best selections of transport and heavy haul equipment we have ever sold here in Houston," said Alan McVicker, Regional Sales Manager, Ritchie Bros. Auctioneers. "We attracted buyers from around the world, which created a strong and competitive bidding environment. Interest peaked during the sale of a selection of unused Terex rock trucks as well as late-model rough terrain cranes. This week we broke records for the most items ever sold at a Texas auction and online gross auction proceeds for our Houston site. We continue to do this thanks to our ability to reach the global equipment industry from our convenient location near the Houston International Airport and the port of Houston, as well as our presence online, where local and international bidders participated live during the auction."

More than 3,700 people from 59 countries, including all 50 U.S. states, registered to bid in person or online in the auction. Bidders from outside Texas purchased more than US$25 million or 48 percent of total gross auction proceeds. More than 2,100 of the bidders taking part in the auction registered to bid online and purchased more than US$21 million of the equipment available online.

Equipment in the auction was sold on behalf of over 425 sellers, including south-central U.S. based Scott Equipment Company, an equipment, parts and service company offering agriculture, construction and industrial equipment services in Louisiana, Arkansas, Mississippi, Tennessee, and Texas since 1939. Scott Equipment consigned more than 120 heavy construction and agricultural equipment items to this week's auction, including a large selection of agricultural tractors, wheel loaders, crawler tractors and hydraulic excavators.

"We have been doing business with Ritchie Bros. since 2008, both buying and selling equipment, and we keep coming back to their auctions for how comfortable we feel with the integrity that surrounds the organization," said Jeremy Daniel, Vice President, Division Manager Used Equipment, Scott Equipment Company. "We are extremely happy with this week's auction results and with everything Ritchie Bros. did leading up to the sale, including all of the marketing and site preparation to help us sell our equipment. We saw particularly strong prices on the sale of our agricultural and smaller excavation equipment. Overall, we were pleased with the results and, as usual, with the full, professional service we receive from the Ritchie Bros. team at every auction."

Consignments for the next unreserved public auction in Houston (November 20 & 21, 2013) are now being accepted. To sell your equipment and trucks with Ritchie Bros., please contact the Houston site at +1.713.455.5200. The Ritchie Bros. auction calendar currently features more than 90 unreserved public auctions around the world.




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