Established in 1963 in Canada, Ritchie Bros. operates
through over 110 locations throughout North and South
America, Europe, Asia, Australia, Africa and the Middle
East. The company sells, through 
unreserved
auctions, a broad range of used industrial equipment including
equipment utilised in the construction, transportation,
mining, forestry, petroleum, marine and agricultural industries.
Ritchie Bros. is a public company; its common shares trade
on both the New York and Toronto stock exchanges under
the ticker symbol RBA.
BUSINESS MODEL
The business of Ritchie Bros. is quite simple: the company
provides a global marketplace for buyers of industrial
equipment. All the company's auctions are unreserved.
Unreserved simply means that all units are sold to the
highest bidder without reserve prices, minimum bids, or
buy-backs. It's an environment that both buyers and sellers
benefit from. 
An
open and transparent bidding environment attracts more
and more buyers to the auction. And this in turn, attracts
more and more sellers.
Ritchie Bros. works with many equipment sellers worldwide.
Last year, the company conducted over 140 auctions through
its network of auction facilities in eight countries,
in addition to numerous other locations.
ONLINE RESOURCES
The company's website at serves as an extension of the
business - customers can search the current auction inventory
and auction results from the past 24 months, place online
consignments and bids, view internet broadcasts of selected
auctions and find contact information for their local
offices and representatives.
Most Ritchie Bros. auctions are broadcast online. So,
if buyers can't make it to the auction, they can still
participate live and in 
real
time over the internet with the rbauctionBid-Live service.
Viewers and bidders can see an image of the equipment
as it sells, hear the auctioneer call out bids and place
bids over the internet, live and in real-time.
QUICK AND EASY
Ritchie Bros. auctions are known for the ramp method,
where customers are able to sit in a covered auction theatre
while the mobile equipment is sold as it is driven over
the ramp. Once the bidding has started, the sale price
increases until there are no new bids. The auctioneer
announces the item as SOLD. Then, the successful buyer
holds up his number to identify himself, and the process
begins all over again.
Bidders can inspect the trucks and equipment at all auction
facilities before the sale. All items are organised in
a logical fashion for easy viewing and comparison. Customers
can conveniently access third-party services at the auction
such as transportation, financing, catering and customs
brokers.
MIDDLE EAST OPERATIONS
Ritchie Bros. commenced operations in Dubai, United Arab
Emirates in October 1997 when the company conducted its
first auction in the Middle East. 
Since
then, several company auctions have been held in Dubai,
including one in late 1998 which totaled over US$35 million
in gross auction sales. Today the company holds four multi-day
auctions in Dubai each year.
CONTINUOUS GROWTH
Ritchie Bros. did not become the world's leading auctioneer
overnight. Only through many years of auction experience
has the company come to define a first-class industrial
auction. Continuous growth around the world allows the
company to broaden its scope and services. A steadfast
commitment to quality service and the unreserved auction
process has enabled Ritchie Bros. earn an exceptional
reputation. nveniently access third-party services at
the auction such as transportation, financing , catering
and customs brokers.
MIDDLE EAST OPERATIONS
Ritchie Bros. commenced operations in Dubai, United Arab
Emirates in October 1997 when the company conducted its
first auction in the Middle East. Since then, several
company auctions have been held in Dubai, including one
in late 1998 which totaled over US$35 million in gross
auction sales. Today the company holds four multi-day
auctions in Dubai each year.
For further information contact:
Ritchie Bros. Auctioneers (ME) Ltd.
PO Box 16897
Jebel Ali Free Zone, Jebel Ali,
United Arab Emirates
