Vancouver-based Ritchie Bros. Auctioneers conducted its final unreserved auctions of 2008 last week and is pleased to announce a preliminary gross auction proceeds estimate of US$3.57 billion for the year. This represents a 12% increase over 2007 gross auction proceeds, making this the largest year in the Company’s 50-year history. Ritchie Bros. (www.rbauction.com), the world’s largest auctioneer of industrial equipment, plans to release its full audited financial statements and Management’s Discussion and Analysis for 2008 on February 26, 2009.

Ritchie Bros. conducted 193 unreserved industrial auctions in 13 countries throughout North America, Europe, the Middle East, Asia and Australia in 2008. The Company also conducted 147 unreserved agricultural auctions in 2008. During its last auction week of 2008, Ritchie Bros. attracted thousands of on-site and online bidders to several auctions, including the US$26 million auction at its permanent auction site in North East, Maryland and the US$21 million auction at its permanent auction site in Olympia, Washington (both held December 16 & 17, 2008).

Posted: 12|23|08 at 10:01 am. Filed under: Auction News.