Ritchie Bros. Sets New Records in Final Auction of 2011

Vancouver-based Ritchie Bros. Auctioneers sold approximately $3.7 billion of equipment at 339 unreserved auctions around the world in 2011. This represents a 12 percent increase in gross auction proceeds over 2010 and the highest gross auction proceeds in company history. The company achieved gross auction proceeds of more than $1 billion in the fourth quarter alone, the largest fourth quarter in company history. Ritchie Bros. attracted record online bidder registrations and sold over $1.1 billion of equipment, trucks and other assets to online bidders in 2011, a 29 percent increase over 2010 and the highest amount ever sold online by the company in one year.

Ritchie Bros. conducted its final unreserved auctions of 2011 on Dec. 20 in Olympia, Wash. and Nashville, Tenn. and plans to release its full audited annual financial statements and Management's Discussion and Analysis for 2011 on Feb. 28, 2012. All dollar amounts in this release are stated in United States dollars, unless otherwise indicated.

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