MEDIA RELEASE PR41772
Ritchie Bros. to Conduct Live Simulcast of Japan Auction at Brisbane Site
BRISBANE, Australia, Oct. 18 /CNW-AsiaNet/ --
Live auction simulcast connects Australian buyers to Japanese equipment market saving them time and money.
Ritchie Bros. Auctioneers, (NYSE and TSX: RBA), the world's largest industrial auctioneer, will conduct a second
live simulcast of its Narita, Japan auction at the Company's permanent auction site in Brisbane, Australia. The
auction, open to the public, will be broadcast in real time on a theatre screen starting at approximately 10:00 a.m.
(Brisbane time) on Thursday, October 28, 2010. The live simulcast of the Narita auction will provide Australian
equipment buyers with the opportunity to bid on items in the Narita auction without having to leave the country. Bids
can be made in person at the Brisbane auction site, online in real time at www.rbauction.com, or by proxy.
Ritchie Bros. conducted its first live simulcast of a Narita, Japan auction at the Brisbane site in May of this year.
Nearly 300 bidders from 29 countries, including multiple bidders from Australia, competed for 120+ equipment
items in the Narita auction. Brash Contracting, an Australian excavating and earthmoving contractor, attended the
live simulcast at the Brisbane site, purchasing a 2007 Caterpillar 980H wheel loader now being used in an
Australian mining operation on Melville Island.
"We've bought and sold with Ritchie Bros. before within Australia, but this was our first time purchasing a piece of
equipment outside the country," said Leon Brunt, co-owner of Brash Contracting. "The simulcast really worked well
for us and we took advantage of the transportation companies available on-site during the simulcast to figure out
shipping costs and needs. Ritchie Bros. made it easy and accessible for us to buy the wheel loader from Japan.
Even with shipping costs factored into our purchasing decision, we saved a lot of money and time buying it from
there."
More than 80+ equipment items will be sold in the October 28 Narita auction and simulcast, including a large
selection of unused and late model Caterpillar crawler tractors, vibratory smooth drum rollers, tandem vibratory
drum rollers and 20+ 2008 New Holland TL5060 MFWD agricultural tractors. Other equipment being sold includes
hydraulic excavators, motor graders and bucket and van trucks.
As with every Ritchie Bros. auction, the Narita auction and simulcast will be unreserved, meaning every item of
equipment will be sold to the highest bidders on auction day - regardless of price - with no minimum bids or reserve
prices. Transportation companies and customs brokers will also be present at the Brisbane auction site during the
live Narita simulcast to assist customers with their shipping needs.
"Using live simulcast technology at the Brisbane site is opening up new opportunities for Australian equipment
buyers and exposing them to new markets outside the country, like Japan, that have good quality gear," said
Warwick Mackrell, Vice President, Ritchie Bros. Auctioneers. "We plan to continue to hold live simulcasts of our
Narita auctions at the Brisbane site from now on. The ability to provide this kind of easy and convenient service is
exciting - buyers get the benefits of being at a live auction held in another country without having to go there in
person."
Narita auction simulcast details:
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Location: Ritchie Bros.' Brisbane permanent auction site at 1-57 Burnside Road, Yatala, QLD, 4207
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Brisbane auction site tel: 07.3382.4444
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Time & date: Thursday, October 28, 2010 - Narita auction simulcast at 10:00 a.m. (Brisbane time)
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Unreserved auction is open to the public; registration to bid is free
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Interested buyers can bid in person at the Narita auction site in Japan, in person at the Brisbane auction site,
online in real time at rbauction.com or by proxy
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Ritchie Bros. will also be hosting a free auction buying workshop at its Brisbane site at 9 a.m. (local time) on
auction day to show you how to buy and import equipment from Japan.
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More information about the auction, including full equipment details and photos, is available at
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 42 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
Members of the public and the media can follow Ritchie Bros. on Twitter @RitchieBros
SOURCE: Ritchie Bros. Auctioneers
CONTACT:
Warwick Mackrell
Vice President, Ritchie Bros. Auctioneers
Brisbane auction site tel: +61.7.3382.4444
Or
Kim Schulz
Manager, Corporate Communications, Ritchie Bros. Auctioneers
Phone: +1.778.331.5442
or email kschulz@rbauction.com
(RBA. RBA)
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