Ritchie Bros. Sells More Than 70 Cranes in Multi-Million Euro Grand Opening Ocana Equipment Auction

OCANA, Spain, June 10, 2010 - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest
industrial auctioneer, sold more than 2, 200 equipment items, including 70
cranes, during a two-day multi-million euro Grand Opening unreserved public
auction held last week (June 3 - 4) in Ocana, Spain. The auction attracted
thousands of people, including more than 1,100 on-site and online registered
bidders from 55 countries. The Company currently has 82 upcoming unreserved
public auctions being held worldwide on its auction calendar at
www.rbauction.com.

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Guylain Turgeon, Senior VP & Managing Director, Ritchie Bros.
Auctioneers, was pleased with the outcome of the Ocana Grand Opening auction.

"Our auctions always attract serious buyers from around the world who
compete on-site and online for the items they need. They like the fact that
everything sells on auction day with no minimum bids or reserve prices and
that they can walk away being the new owner of any number of items being
sold," said Mr. Turgeon. "It's why our auctions are such a great way to sell
assets at true market value."

The large selection of more than 70 cranes sold in the Ocana auction
included 12 tower cranes and 68 all terrain and rough terrain cranes. The
largest crane for sale in the auction-a 2007 Liebherr LTM-1250 all terrain
crane-sold for one million Euro to a buyer from Chile. Excavators, wheel
loaders, crawler tractors, pavers, rollers, dump trucks, truck tractors,
transport trucks and skid steer loaders were among the other equipment items
sold in the auction.

"Bidders from as far away as South America, India and Asia were drawn to
the extraordinary selection of cranes and equipment we had for sale in the
Ocana auction, resulting in strong prices for our consignors, " adds Mr.
Turgeon. "It demonstrates how powerful the unreserved Ritchie Bros.' auction
method is for anyone who needs to turn their surplus equipment into cash."

There are currently more than 300 cranes listed in Ritchie Bros.'
searchable equipment database at www.rbauction.com, including a 2006
Manitowoc 16000 440-ton Series 1, 2 & 3 crawler crane being sold at an
unreserved auction in Denver, Colorado, USA this week from June 10 - 11.

Grand Opening ceremony

On Day 2 (June 4) of the auction, an official ribbon-cutting ceremony
with Ocana Mayor Jose Carlos Martinez Osteso and Company officials was held
to inaugurate the opening of the new Ocana site. The 60-acre (24 ha) Ocana
site includes a 500-seat auction theater, Virtual Ramp area, offices, a
check-in building, a refurbishing facility and a large customer parking area.
The Company expects to hold approximately seven unreserved auctions in Spain
each year, of which four auctions will be held in Ocana and three at the
Company's Moncofa auction site near Valencia.

About Ritchie Bros.

Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the
world's largest industrial auctioneer, selling more equipment to on-site and
online bidders than any other company in the world. The Company has over 110
locations in more than 25 countries, including 41 auction sites worldwide.
Ritchie Bros. sells, through unreserved public auctions, a broad range of
used and unused industrial assets, including equipment, trucks and other
assets utilized in the construction, transportation, agricultural, material
handling, mining, forestry, petroleum and marine industries. The Company
maintains a web site at www.rbauction.com and sponsors an equipment
wiki at www.RitchieWiki.com.

ATTENTION MEDIA:

Photos and other media resources are available for use at
www.rbauction.com/media

Members of the public and the media can follow Ritchie Bros. on Twitter
@RitchieBros

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For more information contact: Alexander Ypeij, Communications Specialist Europe, Ritchie Bros. Auctioneers, Tel: +31-765-242-600 or e-mail: aypeij at rbauction.com; Kim Schulz, Corporate Communications Manager, Ritchie Bros. Auctioneers, Mobile (Canada): +1-604-788-5379 or e-mail: kschulz at rbauction.com; Guylain Turgeon, Senior VP & Managing Director, Ritchie Bros. Auctioneers, Tel: +31-765-242-600