Ritchie Bros. Auctioneers to Sell Own Houston Location

Wed June 03, 2009 - West Edition
CEG



Ritchie Bros. Auctioneers is selling its more than 40-acre property in Houston, Texas, by unreserved public auction. The company is selling its former auction site where it has conducted auctions since 1992. In March of this year, Ritchie Bros. moved to its larger Houston permanent auction site near Humble, Texas, and held its $66 million grand opening auction.

The company will be holding its second auction at its new Houston facility on June 10 to 12, and will sell its former property, along with trucks and construction equipment from more than 100 other consignors. All items at the auction will be sold unreserved, without minimum bids or reserve prices. Everything, including the property, will sell to the highest bidders regardless of price.

“We know from more than 50 years of auction experience that the best way to sell equipment and real estate is by unreserved auction, and there’s no better way to demonstrate that than by selling our own property this way,” said Alan McVicker, regional manager of Ritchie Bros. Auctioneers.

“At a Ritchie Bros. auction, sellers know they’ll get true global fair market value for their items and buyers know they’ll get a fair price. Ritchie Bros. doesn’t set the price of the items, and the owners cannot bid on or buy back items; at a Ritchie Bros. unreserved auction it’s the competitive bidding process that determines the final selling prices.”

The more than 40-acre industrial property is located off the I-10 East Highway in Houston (at 14214 East Freeway). The site consists of four parcels and includes two buildings totalling approximately 62,000 sq. ft.

The three-day unreserved auction already features a selection of crawler and rough terrain cranes, more than 45 concrete pump trucks, crawler tractors, motorgraders, hydraulic excavators, air compressors, tandem rollers, loader backhoes, trucks and trailers — in addition to the property being sold. Items will be added to the sale daily right up to auction day.

How to Bid

There are three ways to bid for the real estate and equipment items at the June Houston auction:

• Attend the Houston auction in person at 15500 Eastex Freeway, Humble, Texas 77396.

• Bid online — in real time over the internet — using the company’s online bidding service available at www.rbauction.com/onlinebidding. It is strongly recommended that bidders register at least 2-3 business days in advance of the auction if they are planning to bid online for the first time.

• Place a proxy bid. Ritchie Bros. will bid during the auction on the bidder’s behalf, up to the maximum bid given.

A 1 percent real estate administration fee will be added to the final winning bid price and included on the Agreement of Purchase and Sale.

For more information, call Ellen Engelsbel at 604/273.2135 or visit www.rbauction.com/property/2009000_houston_tx/property.jsp.