Press Release

Ritchie Bros. Auctioneers (TSX: RBA)(NYSE: RBA), the world’s largest industrial auctioneer, today announced the results of a three-day auction held at its permanent auction site in Moerdijk (Rotterdam), the Netherlands on April 26 to 28, 2006. This unreserved public auction, which sold over 2,700 items, generated gross auction sales in excess of EUR 19 million (over US$23 million).

Ralf Harders, Regional Manager, Benelux and Central Europe, believes the results of last week’s sale illustrate the current demand for new and used equipment in Europe. “Equipment prices were very strong at the sale, which is a good reflection of the high demand and healthy market for equipment across the Continent right now,” he commented.

One highlight of the auction was the sale of four unused Volvo A30D articulated dump trucks, which sold for EUR 235,000 each. They were purchased by a global construction company, and are intended for use in Canada. Another large group of unused lots included five MAN TGA mixer trucks, which sold for EUR 77,500 each. One was sold to a buyer in Hungary and the other four are going to Saudi Arabia.

Over 700 bidders from 54 countries, 21 U.S. states and six Canadian provinces registered to bid at the auction.

According to Harders, “This sale is an indication of the Company’s growth in Europe. The Moerdijk sale used to be the only Ritchie Bros. auction in Europe, and now it’s one of five over a two-month period.” Ritchie Bros. recently completed an auction in Bristol, U.K., and held its first auction in Hannover, Germany in early April. The Company also has upcoming unreserved auctions in France, Spain and Italy in May and June 2006. The May 23 auction in France will be the first time the Company has ever held an auction there.

Harders also noted that a small group of buyers made use of the internet connection at the Ritchie Bros. booth at the INTERMAT 2006 heavy equipment exposition in Paris, France, on the final day of the Moerdijk sale, purchasing items at the auction from the floor of the trade show.

There are over 19,300 truck and equipment items featured in 37 unreserved industrial auctions and 23 unreserved agricultural auctions in the upcoming Ritchie Bros. auction calendar. Details on all upcoming Ritchie Bros. auctions, including equipment that will be sold, are available on www.rbauction.com.

Posted: 05|2|06 at 2:33 pm. Filed under: Auction News.