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Ritchie Bros. To Conduct Fundraising Auction During Las Vegas World Of Concrete Event

LAS VEGAS, NV, Feb. 1, 2013 /PRNewswire/ - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest industrial auctioneer, will sell more than 50 items generously donated by various members of the concrete industry at an upcoming unreserved fundraising auction, all proceeds to benefit Concrete Industry Management (CIM) programs. The auction takes place on Wednesday, February 6 at 1:00 p.m. in the north hall of the Las Vegas Convention Center (N262), and is a part of the four-day World of Concrete event. On auction day, all items will be sold to the highest bidders—there are no minimum bids or reserve prices. Bidders can participate in the auction in-person, online in real time at www.rbauction.com or by proxy.

"All of the funds raised at this charity auction will greatly benefit the future leaders of the concrete industry," said Mike Johnston, Senior Vice President, Sales, Ritchie Bros. Auctioneers. "World of Concrete and the CIM fundraising auction are great events that we and our customers look forward to every year. To save our customers time and money we always try to schedule our first Las Vegas equipment auction around these annual events. Our bidders have the benefit of tying two trips into one and our equipment consignors benefit from the larger, more diverse crowd of potential buyers attending our equipment auction."

The purpose of the Concrete Industry Management (CIM) Program is to produce graduates grounded in the basics of concrete's production techniques and its use in a multitude of construction applications. All proceeds from the 2013 CIM Auction will benefit the CIM National Steering Committee (NSC) and support the current CIM programs, the new Executive MBA program, as well as help fund future program expansion.

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