Ritchie Bros. Auctioneers to Sell Hundreds of Lifting Equipment Items and Cranes

Hundreds of high quality forklifts, scissorlifts, boom lifts, wide variety of cranes will be sold at two Detroit-area auctions
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DETROIT, May 11, 2009 /PRNewswire-FirstCall/ – Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest industrial auctioneer, will be holding two unreserved public auctions in Detroit in May and June. On Wednesday, May 20, the Company will be selling more than 1,200 pieces of lifting and general rental equipment on behalf of NES Rentals Holdings, Inc., at an unreserved public auction in Lincoln Park, Michigan. Two weeks later, on Thursday, June 4, Ritchie Bros. will sell a large selection of late-model, high-quality cranes, in addition to an assortment of heavy equipment items and trucks, to the highest bidders, regardless of price, at an unreserved public auction in Milan, approximately 20 minutes from the Detroit Metropolitan Airport. Items at both of the upcoming Ritchie Bros. Detroit-area auctions will be sold on a strictly unreserved basis, meaning there will be no minimum bids or reserve prices for items being sold in Lincoln Park and Milan.

“People interested in our upcoming Detroit auctions will find a large selection of nice equipment to satisfy their lifting, rigging, crane and construction needs,” said Rory Mullarney, Ritchie Bros. Regional Manager. “Prices for the items being sold at our Detroit auctions will be determined by the competitive bidding process on auction day, as every item sells unreserved to the highest bidder regardless of price.”

The selection of equipment from NES Rentals includes more than 340 forklifts, including 170 electric forklifts; more than 60 scissorlifts, as well as carry-deck cranes, boom lifts, light towers and other specialized rigging equipment. More than 950 of the items are located at the Lincoln Park (Detroit), Michigan site, with approximately 300 additional items at Ritchie Bros. auction sites in Chicago, Illinois and St. Louis, Missouri. The items in all three locations will be sold in Detroit on May 20th, starting at 8:00 am (EST), local time via the Company’s proprietary Virtual Ramp system, with items displayed on a large screen in front of the seated crowd at the Lincoln Park location. On-site bidding will only take place in the Lincoln Park (Detroit) location at 1120 John A. Papalas Drive.

The June unreserved auction in Milan, Michigan currently features cranes from JJ Curran Crane Co., Connelly Crane Rental Corp., Laramie Crane Corp. as well as trucks and heavy equipment from more than 15 other consignors. This will be the second time that Ritchie Bros. has held an unreserved auction in Milan – the location welcomed over 850 bidders from around the world at an unreserved industrial auction in November of last year. The yard, located at 10411 Darling Road in Milan, currently holds more than 30 cranes, including a selection of hydraulic, crawler, rough terrain and conventional truck cranes. The selection of items in Milan also includes late-model industrial equipment including a 2006 Caterpillar D6R XW crawler tractor and two Caterpillar 627F push/pull motor scrapers, with equipment being added to the June 4 auction right up to sale day.

“The locations we have chosen for these unique auctions are conveniently situated within close proximity to major freeways and the Detroit Metropolitan Airport for our interested out-of-town visitors,” added Mr. Mullarney. “We understand that not everyone will be able to attend the auctions in person, so they will also have the option to bid live and online during the auctions or they can place proxy bids ahead of time.”

Registration is free at a Ritchie Bros. unreserved public auction and everything is sold “As is, where is” on auction day. Customers can also bid live and online at www.rbauction.com or can place a proxy bid at the auction site.

Information about the unreserved Lincoln Park auction on May 20:

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– Detailed information about item locations is posted at www.rbauction.com. Items will be available for inspection, testing and comparing prior to the auction date at the following three locations:

1. Lincoln Park (Detroit), Michigan – NES Rentals site at 1120 John
A. Papalas Drive, Lincoln Park, MI
Call: +1.313.388.5722
2. Morris (Chicago), Illinois – Ritchie Bros. Auctioneers permanent
auction site at 2400 Ritchie Road, Morris, IL
Call: +1.815.941.6400
3. St. Louis, Missouri – Ritchie Bros. Auctioneers temporary auction
site at 1400 Shapiro Drive, Festus, MO
Call: +1.636.931.0090

NOTE: Please contact the site ahead of time to find out more information about inspections.

Information about the unreserved Milan auction on June 4:

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– The Milan, Michigan site at 10411 Darling Road will be open from Monday to Friday throughout the month of May for inspections or any inquiries about the upcoming auction. The site will also be open on the last weekend of May (Saturday, May 30 and Sunday, May 31) for equipment inspections. Appointments can also be made to inspect equipment outside of business hours.

– Registration for this auction begins two days prior to sale day on Tuesday, June 2, 2009.
– Milan, Michigan auction site tel: 734.587.3200

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 38 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.

Source: Ritchie Bros. Auctioneers

CONTACT:

Kim Schulz, Corporate Communications Manager, Ritchie Bros. Auctioneers, Phone (604) 788-5379, or email kschulz@rbauction.com;
Or Rory Mullarney, Regional Manager, Rental and Manufacturing Sectors, Ritchie Bros. Auctioneers, Phone (863) 206-3960;
Or Scott McGregor, Regional Manager, Ritchie Bros. Auctioneers, Phone (937) 568-9500

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