Ritchie Bros. to Conduct Grand Opening Auction in Ocaña, Spain

June 3 - 4 Unreserved Auction Features More than 1,500 Equipment Items, Including 50 Cranes

OCAÑA, Spain, May 20, 2010 - Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world's largest
industrial auctioneer, will celebrate the Grand Opening of its new Madrid
(Ocaña) permanent auction site, with a two-day public unreserved auction on
June 3 - 4, 2010. On the morning of June 4, Company officials and Ocaña Mayor
José Carlos Martínez Osteso will participate in a mid-morning ribbon cutting
ceremony to officially mark the opening of the new Ocaña auction site.

(Photo:
www.newscom.com/cgi-bin/prnh/20100520/391738 )

"Since our first auction in Spain in 2000, we've seen demand for our
unreserved auctions continually increase," said Jeroen Rijk, Vice President,
Ritchie Bros. Auctioneers. "Every auction has attracted hundreds of local and
international bidders-the Spanish market has adopted our services amazingly
well. Customers have shown confidence in using Ritchie Bros. unreserved
auctions as an efficient way to manage their equipment fleets. Now it's our
turn to give our customers their own permanent facility to help manage their
assets."

The new 60-acre (24 ha) Ocaña auction site, which is part of a larger
92-acre (37 ha) property, features a 500-seat auction theater, customer
parking, offices and a refurbishing facility. The Company has been operating
from temporary facilities on this site since it acquired the property in
2009.

More than 1,500 equipment items and trucks will be sold during the
two-day auction, including more than 50 cranes. The auction will also feature
a great selection of other lifting equipment and recreational vehicles. Every
item will be sold to the highest bidder, with no minimum bids or reserve
prices.

Interested buyers can bid in person, online in real time at
rbauction.com, or by proxy.

Ritchie Bros. Auctioneers conducted its first auction in Spain on October
3, 2000. There are now two Ritchie Bros. auction sites in Spain- this new
permanent auction site in Ocaña (close to Madrid), which will hold four
auctions annually, and in Moncofa (close to Valencia), which holds three
auctions annually.

Equipment consignments are still being accepted; owners interested in
selling their equipment in the June 3 - 4 auction can contact the Ocaña
auction site at +34-925-157-580 to discuss their options.

    Ocaña Grand Opening auction details:

    - Location: Autovia A4 KM 64.2 (Poligono 39, Salida 62), 45300
      Ocana - Toledo, Spain
    - Ocaña auction site tel: +34-925-157-580
    - Time and date: Thursday, June 3 and Friday, June 4, 2010 starting
       at 9:00 a.m. each day (local time)
    - Ribbon cutting time: Friday, June 4, 2010 at approximately 10.30 a.m.
    - Unreserved auction is open to the public; registration to bid is free
    - Anyone can come to the auction two days before auction day to
      inspect, test and compare items.
    - Bids for the live auction can be made in person at the auction
      site, online in real time at rbauction.com or by proxy.
    - More information, including equipment details and photos, is
      available at www.rbauction.com (available in 21 languages)

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: Media are welcome to come and visit the Grand Opening
auction. The ribbon cutting ceremony will take place at approximately 10.30
a.m. on Friday, June 4. Company officials will be available for interviews
afterwards.

Photo:
www.newscom.com/cgi-bin/prnh/20100520/391738

For more information contact: Alexander Ypeij, Communications Specialist Europe, Ritchie Bros. Auctioneers, Phone: +31.765.242.600 or email aypeij at rbauction.com ; Or Jeroen Rijk, Vice President Europe South, Ritchie Bros. Auctioneers, Phone: +34-964-580-559 or email jrijk1 at rbauction.com ; Or Kim Schulz, Manager, Corporate Communications, Canada Tel: +1-778-331-5442 or kschulz at rbauction.com