News Releases - October 23, 2018

SPRINGDALE, NL (October 23, 2018) – Ritchie Bros. has been conducting auctions in Canada for 60 years, but for the first-time ever they will hold an auction in Western Newfoundland, on November 9 in Springdale, helping dozens of local companies sell their equipment to contractors around the world.

Bringing them to Springdale is the award-winning, multi-industry contractor Springdale Forest Resources, Inc. In business since 1987, Springdale Forest Resources, which employs upwards of 100 Newfoundlanders, is realigning its fleet for upcoming work. The company will be selling approximately 130 items in the November 9 auction—all of which will be sold to the highest bidders, regardless of price.

"We have sold with Ritchie Bros. in the past and really wanted to bring them to Western Newfoundland to help us and other contractors in the area sell our surplus equipment to contractors around the world," said Dennis Young, President, Springdale Forest Resources. "Ritchie Bros. auctions are a ton of fun and a really effective way to exchange equipment. We are very excited for the November 9 event and encourage interested buyers to come check it out for themselves."

In total, more than 350 equipment items and trucks will be sold in the November 9 auction, being held on Springdale Forest Resources property at 406 Little Bay Rd. The auction is open to the public and will begin promptly at 9:30 a.m.

"We can conduct an auction just about anywhere," said John Adams, Sales Manager (Eastern Canada), Ritchie Bros. "We have a permanent auction site in Nova Scotia, but like to come out to Newfoundland as often as we can. Thanks to Dennis and Springdale Forest Resources we are very excited to conduct our first-ever auction on the west side of Newfoundland. I'm sure we will see prospective buyers from across Canada and around the world participating onsite and online in this event. Contractors will surely be clamoring at the opportunity to buy the superior forestry, construction, and transportation equipment available in this auction. We can't wait to get started!"

Specific equipment highlights in the November 9 auction include:

• Two 2012 John Deere 2154D crawler delimbers
• A 2013 John Deere 753J crawler mulcher
• A 2012 John Deere 753J feller buncher
• A 2014 John Deere 672GP motor grader
• A 2015 Komatsu PC290LC-11 hydraulic excavator
• A 2008 Duralite 500 skid-mounted hydraulic rock drill

For more information about the Springdale auction, including detailed equipment information, visit rbauction.com.

About Ritchie Bros.

Established in 1958, Ritchie Bros. (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance(R) equipment condition certification; Marketplace-E, an online marketplace offering multiple price and timing options; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet, Kruse Energy Auctioneers, and Cat(R) auctions, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.

Photos and video for embedding in media stories are available at rbauction.com/media.

For more information, please contact:
Ian Malinski
Media Relations Manager
+1(778) 331-5432
CorpComm@rbauction.com