Ritchie Bros. Auctioneers sold more than US$48 million of heavy equipment and trucks during an unreserved public auction at the Company's permanent auction site in Houston, Texas on August 27 & 28, 2014. More than 3,900 registered bidders competed for 3,900+ heavy equipment items and trucks, including 150+ hydraulic excavators, 130+ truck tractors, 50+ bulldozers, a large selection of oilfield completion, tooling and transportation equipment, cranes and more. Every item was sold to the highest bidder, regardless of price—without minimum bids or reserve prices. Bids were made in the auction on-site, online in real time at www.rbauction.com and by proxy.

"Everything went really smoothly and prices were strong across the board," said Alan McVicker, Regional Sales Manager, Ritchie Bros. Auctioneers. "We had huge crowds on-site with bidders from more than 60 countries participating throughout the two days."

More than 3,900 people from 60 countries, including all 50 US states, registered to bid in person or online in the auction. Bidders from outside Texas purchased close to US$25 million or 52 percent of total gross auction proceeds. More than 2,350 of the bidders taking part in the auction registered to bid online and purchased more than US$20 million of equipment online.