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Ritchie Bros. to hold another auction in India

PMV

Ritchie Bros. Auctioneers (NYSE and TSX: RBA), will be returning to Hyderabad to hold another unreserved, public equipment auction on Wednesday, February 3, 2010. At this auction, a large selection of equipment and trucks utilized in construction, transportation, mining and other industries will be sold to an international crowd of interested buyers.
The Company’s first-ever unreserved public auction in India, held in September 2009, attracted a crowd of more than 200 registered bidders. A broad selection of 230 equipment items and trucks were sold, which generated total auction proceeds of Rs. 17,43,40,000 for the Company’s consigning customers.
“At our first auction in India last September, we reunited with existing customers and welcomed many new customers from the local and international equipment industry,” said Sameer Malhotra, Ritchie Bros. Auctioneers Country Manager in India. “The extremely active participation from on-site and online bidders was great to see at our first-ever auction in India.”
Since this auction, we’ve been getting many customers requests to hold more auctions in India”, said Mr. Malhotra. “The best way to meet these needs is to hold our efficient, unreserved auctions on a regular basis. We’re expecting our February auction will attract more bidders on auction day.”
“Due to the fact we attract international bidders at our auctions, our local consignors achieve global fair market prices for the assets they are selling on auction day, rather than strictly relying on their local market,” added Mr. Malhotra.
Currently, several used and unused equipment items and trucks have already been consigned for the early February auction, including pavers, rollers, mixers, loaders, cranes, excavators, crawler tractors, lifts and many more items. As with every Ritchie Bros. auction, all lots will be sold on auction day without minimum bids or reserve prices.

Auction details
Location: Rajiv Gandhi International Airport, behind PTC, Shamshabad, Ranga Reddy District, Andhra Pradesh, Pin – 500 409, India
Time and date: Wednesday, February 3, 2010 (starting at 9:30 a.m. local time)
Hyderabad auction site tel: +91.9676123412 Auction site fax: +91.40.66251217
 

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