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Hyd to host construction equipment auction

Ritchie Bros. Auctioneers, the world’s largest industrial auctioneer, will conduct its first ever auction in India on September 25, 2009 in Hyderabad. A large selection of construction, transportation and agricultural equipment items will be sold with no minimum bids or reserve prices on auction day. The large selection of items include: cranes, hydraulic excavators, wheel loaders, crawler tractors and dump trucks. Additional items will be added to the auction catalogue in the coming weeks.
The auction is open to the public; registration to bid is free. The unreserved public auction is expected to attract an international crowd of bidders. Interested buyers can bid in person at the Hyderabad auction site, online in real time through the Ritchie Bros. web site (www.rbauction.com) or by proxy. To help interested equipment buyers, Ritchie Bros. will also be conducting a free "How to Bid" seminar in Hyderabad on September 11, 2009.
"We’ve welcomed a growing number of equipment buyers and sellers from India and surrounding countries to our unreserved public auctions around the world over the past decade; now we’re ready to bring our auctions to India," said Guylain Turgeon, senior vice president and MD, Ritchie Bros. Auctioneers.
"There are many interesting construction and infrastructure projects being planned and undertaken in India, especially since the latest election,” he added. “More than ever, Indian companies need good quality, used equipment that can be purchased at fair market prices and put to work instantly, which is exactly what we offer at our unreserved public auctions."
Auction details:
Location: Rajiv Gandhi International Airport, Shamshabad, Ranga Reddy district, Pin-500409, Andhra Pradesh, India (phone: +91.11.4141.4444).
Time and date: Friday, September 25, 2009 (auction starts at 9:30 a.m.)
How to bid:
• In person – registration begins at the auction site several days before the auction. Photo I.D. is required.
• Online in real time – register online at www.rbauction.com, at least 2-3 days before the auction for first-time internet bidders.
• By proxy – phone the auction site to place a proxy bid. The auction is open to the public; registration to bid is free.
• Bidders must place a refundable bid deposit equivalent to greater of 25% of their estimated purchases or Rs. 10,00,000. More information for bidders can be found at www.rbauction.com/india

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