Over the past several years, Ritchie Bros. has been carrying out an extensive capital expenditure program. One goal of the program is to establish a global network of permanent, full-service auction facilities that can accommodate all services required for both buyers and sellers of industrial and construction equipment.

Each new addition, and all other sites being upgraded, are consistent in their design and layout. This helps buyers traveling from one Ritchie Bros.’ site to another, to take comfort in the consistency of the facilities and auction services. The design of the new Ritchie Bros. Orlando, FL, facility is modeled after the company’s other permanent facilities around the world.

Recent additions to the company’s network of auction facilities, besides Orlando, include North East (Baltimore), MD; Morris (Chicago), IL; and Dubai, United Arab Emirates. Other current developments are under way in Edmonton, Alberta, and Prince George, British Columbia, both in Canada.

The Ritchie Bros. Orlando auction site is being built on an undeveloped parcel of land, located at 44421 Hwy. 27 North in Davenport, approximately 40 miles southwest of Orlando. The 34,000-sq.-ft. refurbishing building is being erected first. Construction on the more than 35,000-sq.-ft. combined auction building and theater will begin next. Upon completion, the Orlando auction facility will be one of the larger ones in the Ritchie Bros. network, occupying more than 130 acres (53 ha) all together. The site also will feature a truck and equipment storage yard.

The refurbishing facility will be completed for the company’s upcoming auction on March 28, 2002. The remaining construction of the buildings, elevated selling ramp and auction yard is expected to be finished at some point during the year.

The new yard and facility will accommodate more – more trucks and equipment for auction and more sale-day attendees. It will be roomier and more comfortable than other Ritchie Bros. facilities located in Florida in the past, according to Ellen Engelsbel, media relations of Ritchie Bros. There also will be a larger yard and auction theater with ample parking. The theatre will seat close to 1,000 bidders.

There also is room for other on-site third party auction day services including catering, transportation and finance companies.

The refurbishing building itself is an impressive structure, Engelsbel said. From washing to blasting and painting , the building is designed using the latest technology to provide an environmentally friendly, efficient and cost-effective facility.

“Hundreds of thousands of Floridians commute via the I-4 highway each week. Because the Orlando facility is located right off of I-4, both buyers and consignors can benefit from greater exposure of the equipment,” she added.

While this new location and facility will service Florida and many other southeastern states, Ritchie Bros. is experiencing an increasing international participation in its Florida auctions. With the Orlando location being close to major airports and shipping routes, this contributes to global participation allowing for more consignments and buyers coming from outside of the United States, Engelsbel noted.

“Also, with regularly scheduled auctions at 26 sites and numerous off-site sales, Ritchie Bros. enables owners to sell their equipment when and where they want – a particularly compelling feature for customers operating in multiple locations around the nation and around the world. The Orlando site contributes to this network giving customers flexibility and immediacy,” she explained.

Internet Bidding

As part of the company’s recent Internet initiatives, Ritchie Bros. will be augmenting many of its regularly scheduled auctions for 2002 by supporting live Internet bidding over the company’s Web site at www.rbauction.com. The Orlando site will be equipped to facilitate this for future auctions, however the March 28 auction will not have live Internet bidding.

According to Engelsbel, Ritchie Bros. will conduct between three to five auctions at the Orlando site each year. In addition to auctions at this permanent facility, the company will continue conducting auctions at temporary off-site locations where the company deems it necessary.