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Ritchie Bros. to Conduct Grand Opening Auction in OcaA[+ or -]a, Spain.

OCAA'A, Spain, May 20, 2010 /PRNewswire-FirstCall/ --

- June 3 - 4 Unreserved Auction Features More than 1,500 Equipment Items, Including 50 Cranes

Ritchie Bros. Auctioneers Ritchie Bros. Auctioneers (NYSE: RBA & TSX: RBA), sells, through unreserved public auctions, a broad range of used and unused industrial equipment including equipment utilized in the construction, transportation, material handling, mining, forestry, petroleum, marine,  (NYSE NYSE

See: New York Stock Exchange
 and TSX TSX Toronto Stock Exchange (TSE before April, 2002)
TSX Transfer from Stack Pointer to Index
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: RBA RBA Rare Bird Alert
RBA Reserve Bank of Australia
RBA Run Book Automation
RBA Rochester Business Alliance
RBA Rights-Based Approach
RBA Royal Brunei Airlines (ICAO code)
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), the world's largest industrial auctioneer, will celebrate the Grand Opening of its new Madrid (OcaA[+ or -]a) permanent auction site, with a two-day public unreserved auction on June 3 - 4, 2010. On the morning of June 4, Company officials and OcaA[+ or -]a Mayor JosA)c) Carlos MartA-nez Osteso will participate in a mid-morning ribbon cutting ceremony A ribbon cutting ceremony is a public ceremony conducted to inaugurate the opening to the general public of a new building or business.

Often, it is conducted in just the manner the name suggests: by tying a ceremonial ribbon across the main entrance of the building, which
 to officially mark the opening of the new OcaA[+ or -]a auction site.

(Photo: http://www.newscom.com/cgi-bin/prnh/20100520/391738 )

"Since our first auction in Spain in 2000, we've seen demand for our unreserved auctions continually increase," said Jeroen Rijk, Vice President, Ritchie Bros. Auctioneers. "Every auction has attracted hundreds of local and international bidders-the Spanish market has adopted our services amazingly well. Customers have shown confidence in using Ritchie Bros. unreserved auctions as an efficient way to manage their equipment fleets. Now it's our turn to give our customers their own permanent facility to help manage their assets."

The new 60-acre (24 ha) OcaA[+ or -]a auction site, which is part of a larger 92-acre (37 ha) property, features a 500-seat auction theater, customer parking, offices and a refurbishing facility. The Company has been operating from temporary facilities on this site since it acquired the property in 2009.

More than 1,500 equipment items and trucks will be sold during the two-day auction, including more than 50 cranes. The auction will also feature a great selection of other lifting equipment and recreational vehicles. Every item will be sold to the highest bidder, with no minimum bids or reserve prices.

Interested buyers can bid in person, online in real time at rbauction.com, or by proxy.

Ritchie Bros. Auctioneers conducted its first auction in Spain on October 3, 2000. There are now two Ritchie Bros. auction sites in Spain- this new permanent auction site in OcaA[+ or -]a (close to Madrid), which will hold four auctions annually, and in Moncofa (close to Valencia), which holds three auctions annually.

Equipment consignments are still being accepted; owners interested in selling their equipment in the June 3 - 4 auction can contact the OcaA[+ or -]a auction site at +34-925-157-580 to discuss their options.
 OcaA[+ or -]a Grand Opening auction details:
     - Location: Autovia A4 KM 64.2 (Poligono 39, Salida 62), 45300
      Ocana - Toledo, Spain
    - OcaA[+ or -]a auction site tel: +34-925-157-580
    - Time and date: Thursday, June 3 and Friday, June 4, 2010 starting
       at 9:00 a.m. each day (local time)
    - Ribbon cutting time: Friday, June 4, 2010 at approximately 10.30
a.m.
    - Unreserved auction is open to the public; registration to bid is
free
    - Anyone can come to the auction two days before auction day to
      inspect, test and compare items.
    - Bids for the live auction can be made in person at the auction
      site, online in real time at rbauction.com or by proxy.
    - More information, including equipment details and photos, is
      available at http://www.rbauction.com (available in 21 languages) 


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 41 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 other assets

Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately.
 utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. The Company maintains a web site at http://www.rbauction.com and sponsors an equipment wiki A Web site that can be quickly edited by its visitors with simple formatting rules. Developed by Ward Cunningham in the mid-1990s to provide collaborative discussions, there are several "wiki" tools on the market for creating such sites, including www.editme.com, www.seedwiki.com, www.  at http://www.RitchieWiki.com.

ATTENTION MEDIA: Media are welcome to come and visit the Grand Opening auction. The ribbon cutting ceremony will take place at approximately 10.30 a.m. on Friday, June 4. Company officials will be available for interviews afterwards.

SOURCE Ritchie Bros. Auctioneers
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Publication:PR Newswire
Geographic Code:4EUSP
Date:May 20, 2010
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