BWI: Ritchie Bros. Auctioneers Conducting First Unreserved Equipment Auction in India on September 25, 2009

Press release from Business Wire India
Source: Ritchie Bros.
Thursday, September 24, 2009 04:30 PM IST (11:00 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Information technology, Media & entertainment, Retailers; Technology
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Ritchie Bros. Auctioneers Conducting First Unreserved Equipment Auction in India on September 25, 2009
The World's Largest Industrial Auctioneer to Sell Hundreds of Equipment Items at Country's First Sale

Hyderabad, Andhra Pradesh, India, Thursday, September 24, 2009 -- (Business Wire India) -- Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will conduct its first ever unreserved auction in Hyderabad, India on Friday, September 25, 2009 starting at 9:30 a.m. local time. A large selection of construction, transportation and agricultural equipment items and trucks will be sold without minimum bids or reserve prices. The auction is open to the public and registration to bid is free. The Company expects to welcome an international crowd of bidders, participating in-person and online, at the unreserved equipment auction in central India.

Guylain Turgeon, Senior Vice President and Managing Director at Ritchie Bros., says the Company is excited for its first auction in India: "There's a rising demand for good quality, used equipment in India that can be put to work right away. We're excited to bring the global marketplace to India with our unreserved auction process. Buyers come to our unreserved auctions from all over the world, because we offer a large selection of equipment and sell everything in a fair, transparent manner. At the same time, we enable our selling customers to reach a wide, international audience of potential buyers. This helps them achieve the highest possible returns on their assets, regardless of local market conditions."

Every Ritchie Bros. auction is unreserved, meaning there are no minimum bids or reserve prices. Ritchie Bros. also forbids owners from bidding on their own items, which ensures that the bidders set the prices, not the sellers.

Sandeep Garg, president of the New Delhi-based company Punj Lloyd Ltd., has been a Ritchie Bros. customer for several years. "Ritchie Bros. auctions are amazing," said Mr. Garg. "The selection of equipment is incredible, the pace of the auction is fast and the whole process is very fair and efficient. I know that the equipment will be sold, I can inspect it before the auction and, if I'm the successful bidder, the equipment is available right away."

Sameer Malhotra, Ritchie Bros. Country Manager India, is looking forward to the first unreserved Ritchie Bros. auction in his home country: "We already have hundreds of Indian customers who've travelled to experience the benefits of a Ritchie Bros. auction in person: the large selection of used and unused equipment, the exciting atmosphere and most of all, the fair and transparent bidding process. Now we are able to bring that experience closer to home."

Ritchie Bros. will sell a large selection of equipment in Hyderabad, including cranes, hydraulic excavators, wheel loaders, crawler tractors and dump trucks. The Company welcomes anyone with equipment to sell at upcoming auctions to contact the Ritchie Bros. office in New Delhi at +91.11.4141.4444.

"Ritchie Bros. is a full-service auction company," Mr. Malhotra explains. "We take care of everything for equipment sellers, including appraisals, worldwide advertising and marketing, meeting with potential buyers and collecting and disbursing the sale proceeds. Sellers can rest easy knowing that every detail is taken care of. Selling through Ritchie Bros. is a fast, efficient way of turning equipment into cash. If you have equipment or trucks to sell, contact us today and have your machines sold to bidders from around the world at a global fair market value."

Auction details:

-- Location: Rajiv Gandhi International Airport, behind PTC, Shamshabad, Ranga Reddy District, Andhra Pradesh, Pin - 500 409, India

-- Time and date: Friday, September 25, 2009 starting at 9:30 a.m. local time

-- Hyderabad auction site tel: +91.9676123412 Auction site fax: +91.40.66251217

-- Directions to auction site: From the Hotel Taj Banjara, Banjara Hills: move towards Masab Tank then go towards Medipatnam under/over PVNR Elevated Express highway/flyover. Drive along with the flyover for 13 KM until you reach on NH-7 Bahadurpura Cross. Take a right turn along with the flyover on to NH-7 towards Bangalore for 9 KM. Look for directions to the airport on NH-7

-- Equipment and more auction details, including photos, are available on the Ritchie Bros. website: 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 39 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.


CONTACT DETAILS
Sameer Malhotra, Country Manager, Ritchie Bros. Auctioneers, +91 (11) 41414444, smalthotra@rbauction.com
Alexander Ypeij, Communications Specialist Europe, Ritchie Bros. Auctioneers, +31.765.242.600, aypeij@rbauction.com
Kim Schulz, Manager, Corporate Communications, Ritchie Bros. Auctioneers, +1.604.788.5379, kschulz@rbauction.com
Tanvi Sharma, Positive Communications, +91 9871058649, +91 (11) 43440044, tanvi@positiveindia.biz

KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, IT, MEDIA, RETAIL, TECHNOLOGY

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