World's largest industrial auctioneer Ritchie Bros. to conduct third unreserved public auction in India

Hyderabad, June 3 (ANI-Business Wire India): After two successful unreserved public equipment auctions in India, Ritchie Bros. Auctioneers, the world's largest industrial auctioneer, returns to Hyderbad to hold another equipment auction on June 9.

A large selection of construction, transportation and agricultural equipment items and trucks will be sold, with no minimum bids or reserve prices.

"We've received great feedback at previous auctions, including many requests to hold more auctions, that's why we are back for our third unreserved public auction in India," said Sameer Malhotra, Country Manager, Ritchie Bros. Auctioneers.

"In the last six years we've seen a dramatic increase in Indian customers participating in Ritchie Bros. auctions worldwide. Many of them start as equipment buyers at our auctions overseas and, once they see the advantage of selling their assets for global fair market value, they become sellers too. Our customers know our unreserved auctions attract large crowds of bidders from all over the world, which helps achieve the highest returns possible for their surplus assets," Malhotra added.

The June 9 Hyderabad auction features a wide variety of industrial assets, including crawler tractors, wheel loaders, hydraulic excavators, rough terrain cranes, concrete pumps, pavers, rollers, mixer trucks, telescopic forklifts and skid steer loaders. Interested buyers can bid in person, online in real time at www.rbauction.com or by proxy.

To familiarize new customers with the auction process, Ritchie Bros. will be holding a free How to Bid workshop with an auction demonstration on June 8 at the auction site.

The last Ritchie Bros. Hyderabad auction, held on February 3, 2010, was a multi-million Rupee sale attracting close to 300 on-site and online bidders from 13 countries, including Singapore, Italy, Mexico, Canada and the United States.

In 2009, Ritchie Bros. Auctioneers sold 283,000 items, which generated gross auction proceeds of 3.5 billion dollars.

Recently, the Company launched a new 21-language web site, which features the world's largest used equipment inventory.

The auction will be held at the Rajiv Gandhi International Airport. (ANI)