Total gross auction sales
for all three unreserved auctions amounted to over US$90 million.

Ritchie Bros. Auctioneers Reports Record Results for Quarter Ended March 31 2005 and Declares Dividend

Please go to the website at least fifteen
minutes early to download and install any necessary audio software.

Selected Balance Sheet Data
(USD thousands) March 31, 2005 December 31, 2004
----------------------------------
(unaudited )

Current assets $ 311,154 $ 171,302
Current liabilities 265,403 134,431
------------- - --------------
Working capital (including cash) 45,751 36,871
Total assets 576,269 442,409
Long-term debt 4,154 10,792
Total shareholders' equity 298,790 289 ,264

Selected Operating Data
(unaudited) Three months ended Three months ended
March 31, 2005 March 31, 2004
-------------------------------------
(unaudited ) (unaudited)

Auction revenues as percentage
of gross auction sales 10.

susanin scottys

, "and our auctions
continue to attract bidders from around the world.

About Ritchie Bros. is the world's largest auctioneer of industrial
equipment, operating through over 110 locations in more than 25
countries around the world. Ritchie Bros.
Actual results may differ materially . Auctioneers Incorporated (TSX:RBA) (NYSE:RBA)

chaddock liquidations

states registered to bid on the 3,167 lots in the March 2-4th Texas
auction.com

Earnings Conference Call

Ritchie Bros. is hosting a conference call to discuss its 2005
first quarter financial results at 8:00am Pacific Time (11:00am
Eastern Time) on May 3, 2005.

hambrook scottys

"The prices were consistently strong," said Rich Evans , Regional
Manager of Western Great Lakes for Ritchie Bros. The
rbauctionBid-Live service continues to complement the Company's live
auctions, by increasing the average size and diversity of the bidding
audiences.

Ritchie Bros. To access a live broadcast of the
conference call, please go to the Ritchie Bros.

auctioneers elac

"We continue to transcend local and regional
market conditions for our consignors , getting them global market
value," Evans added."

The auction in Fort Worth was the largest of the week.

Nine unreserved auctions are on the Ritchie Bros. auctions, including
equipment listings, are available on www. Excluding this gain, net earnings would have been $10. We are continuing to see large audiences of bidders coming
from around the world to compete vigorously for good quality , late
model industrial assets. and sold in the same
manner as consigned equipment.

auctioneering brahm

Over 6,500 people registered to bid at the company's three
auctions last week.rbauction. Auctioneers Incorporated (TSX:RBA) (NYSE:RBA)

Net earnings in
the first quarter of 2005 include a $3.

Gross auction sales for the quarter ended March 31, 2005 were
$456 million, 20% higher than the gross auction sales reported for
the first quarter of 2004. sold more
than 40,000 lots for over 5,200 consignors at 29 industrial auctions
attracting nearly 50,000 registered bidders.

The Company continued its global expansion during the quarter
ended March 31, 2005, opening its new permanent auction site in
Sacramento, California and establishing a new regional auction unit
in Livorno, Italy. A
replay will be available on the website shortly after the call.19
Net earnings per share - diluted (1) $ 0.40 $ 0.

auctioneer hambrook

More than 8,200 trucks and equipment units were
sold completely unreserved on the auction days.' then click on
'Investor Information'.

ahlden quittenbaum

virginias consignments

Three
thousand seventy-one (3,071 ) people from 35 countries and 47 U. calendar this
week including Montreal, Quebec (2-day); Brisbane , Australia; Los
Angeles, California (2-day); Vancouver, British Columbia; Denver,
Colorado (2 -day); Melbourne, Australia; Quesnel, British Columbia;
and Las Vegas, Nevada. is the world's largest auctioneer of industrial
equipment, operating through over 110 locations in more than 25
countries around the world.

The Board of Directors today announced the declaration of a
quarterly cash dividend of 11 cents per common share payable on June
17, 2005 to shareholders of record on May 27 , 2005. These risks and
uncertainties include: the many factors that impact on the supply of
and demand for used equipment; fluctuations in the market values of
used equipment; periodic and seasonal variations in operating
results; actions of competitors; the success of the Company's
Internet initiatives; and other risks and uncertainties as detailed
from time to time in the Company's SEC and Canadian securities
filings, including the Company's Management's Discussion and Analysis
of Financial Condition and Results of Operations for the year ended
December 31, 2004, available on the SEC, SEDAR and Company websites.19
Adjusted net earnings per share -
diluted $ 0.

hodgins auctioneering

The Company sells, through unreserved
public auctions, a broad range of used and unused industrial
equipment including equipment utilized in the construction,
transportation , material handling, mining, forestry, petroleum,
marine, real estate, and agricultural industries . Demand is strong while supply remains tight,
and prices at our auctions have reflected this situation .30 $ 0.

quittenbaum susanin

The Company
maintains a web site at www.

Peter Blake, the Company's CEO, remarked: "I am happy to report
that the momentum we experienced in 2004 has carried forward into the
first quarter of 2005.

brahm porcelains

Ritchie Bros. Auctioneers Caps off Week with Over US$90 Million in Sales

7 million , or $0.95% in the first quarter of
the prior year. The Company also commenced construction of a new
permanent auction site in Nashville, Tennessee.30 $ 0.

consignments auctioneering

All dollar
amounts in this release are presented in United States dollars.40 $ 0.

willingham hodgins

The internet
participants were buyers or runner -up bidders on 26% of the lots
available for online bidding.com

Investors and potential investors should note that this
information may not be indicative of the overall financial
performance of the Company for this or any period.

News Editors

VANCOUVER, British Columbia----Ritchie
Bros.rbauction.

hostetter hodgins

Ritchie Bros.19 per diluted
weighted average share, in the first quarter of 2004.
auctions using the Company's rbauctionBid-Live Internet bidding
service purchased industrial assets with a value of over $63 million,
a nearly 50% increase over the equivalent period in 2004 . maintains a website
at www.

quittenbaum ahlden

Details on all upcoming Ritchie Bros.

During the quarter ended March 31, 2005, Ritchie Bros. Internet bidders represent approximately 20% of the
registered bidders at Ritchie Bros.

Forward-looking Statements

The discussion in this press release relating to future operating
periods contains forward-looking statements (as defined in Section
21E of the Securities Exchange Act of 1934, as amended) that involve
risks and uncertainties, including , in particular, statements
regarding anticipated results for future periods; opportunities in
new markets; the percentage of internet bidders that are the buyers
or runner-up bidders of lots broadcast on the internet; and the
implementation of the Company's growth strategy.

scottys hostetter

6 million, or $0.30 per diluted weighted average share. This is the largest first quarter gross
auction sales in the Company 's history.6
million, an increase of 29% over the equivalent period in the prior
year. The Company also held
four smaller agricultural auctions during the quarter. The Company does not undertake
any obligation to update the information contained herein, which
speaks only as of this date. The Company does not believe that this gain is part of
the normal course of its operations.

liquidated sloans

"

Some of the successful international buyers at the Chicago
auction purchased equipment that is now destined for Thailand, Peru,
Columbia, and India. More than 750 internet bidders, using the company's
real -time bidding service, rbauctionBid-Live, purchased over US$8
million worth of trucks and equipment items. We are excited about the remainder of 2005, as well as
the years ahead.

auctioneers quittenbaum

rbauction. The Company 's net
earnings for the quarter were $13.

Gross auction sales represent the aggregate selling prices of all
items sold by the Company during the period and are not presented in
the Company 's consolidated financial statements; the comparable
financial statement measure is auction revenues , consisting primarily
of commissions earned on consigned equipment and net profit on the
sale of equipment purchased by Ritchie Bros.65% 9.

auctioneering europes

Ritchie Bros.

Auction revenues in the quarter ended March 31, 2005 were $48. Auction revenues as a percentage of gross auction sales were
10. The Company sells, through unreserved
public auctions, a broad range of used and unused industrial
equipment including trucks and equipment used in the construction,
transportation, mining, forestry, petroleum, materials handling,
marine and agricultural industries. website
(www.
(2) Net earnings for the quarter ended March 31, 2005 included a
$5,493 gain ($3,296 after tax) recorded on the sale of excess
land.

brahm chaddock

News Editors

VANCOUVER, British Columbia----Ritchie Bros.4
million, or $0.rbauction.

Consolidated Statements of Earnings Three months Three months
(USD thousands, except share ended ended
and per share amounts) March 31, 2005 March 31, 2004
-----------------------------
(unaudited ) (unaudited)

Gross auction sales $ 456,260 $ 378,642
-------------- --------------
-------------- --------------

Auction revenues $ 48,578 $ 37,670
Direct expenses 5,484 4,547
-------------- --------------
43,094 33,123
Expenses:
Depreciation 3,399 2,962
General and administrative 22,556 19,417
-------------- --------------

Earnings from operations 25,955 10,744
Other income (expenses):
Interest expense (679) (960)
Gain on disposition of capital assets 5,448 48
Other income 198 63
-------------- --------------

Earnings before income taxes 22,106 9,895

Income taxes 8,431 3,305
-------------- --------------

Net earnings $ 13,675 $ 6,590
--------- ----- --------------
-------------- --------------

Net earnings per share (1) $ 0.

NO ONLINE-ONLY AUCTION SITES
OFF LINE AUCTION HOUSESor
AUCTION HOUSES with On-line Services

chaddock hostetter

Auctioneers Incorporated (TSX:RBA )(NYSE:RBA) today announced its
results for the quarter ended March 31, 2005.65% this year compared to a rate of 9. Our sales
force is working hard to generate consignments and deliver value to
our customers. auctions and are the buyers or
runner up bidders on roughly 15% of all lots available to online
bidders.19

Weighted average shares outstanding 34,287,108 34,024,340
Diluted weighted average
shares outstanding 34,617,223 34,406,316

---------------------------------------------------------------------
------------------- --------------------------------------------------

Net earnings in accordance with GAAP $ 13,675 $ 6,590
Less: after-tax gain on
sale of excess land (2) (3,296) -
-------------- --------------
Adjusted net earnings $ 10,379 $ 6,590
-------------- --------------
-------------- ---------- ----

Adjusted net earnings per share $ 0.19

(1) Net earnings per share for the quarter ended March 31, 2004 has
been restated on a retroactive basis to reflect the two -for-one
split of the Company's common shares that occurred on May 4,
2004.95%
Number of consignors
(industrial auctions) 5,204 4,671
Number of bidders
(industrial auctions) 49,559 45,874
Number of buyers
(industrial auctions) 13,218 11,904
Number of permanent auction sites 23 22
Number of regional auction units 7 7

Ritchie Bros.

Welcome to Auction Houses
This section consists of traditional auction establishments; though they may have an online catalog and may accept E-mail.

auctioneering neate

Auctioneers Incorporated (TSX:RBA)(NYSE:RBA)
announced today the results of three, multi-day auctions held at its
permanent auction sites in Chicago, IL; Moerdijk (Rotterdam), the
Netherlands; and Fort Worth, TX last week .

scottys quittenbaum

"And with prices for most categories of
equipment holding steady, it's no surprise that so many owners have
decided that now is an excellent time to be selling.com

--------------------- -----------------------------------------------
Auction Highlights - Week of February 28 to March 4, 2005
--------------------------------------------------------------------
Chicago, IL Moerdijk, NLD Fort Worth, TX
-------------------------------------------- ------------------------
Dates March 1 + 2, March 1, 2 + 3, March 2, 3 + 4,
2005 2005 2005
---------------------------- ----------------------------------------
Gross auction sales Over US$20 Over EUR 23 Over US$38
million million million
(Over US$31
million)
--- -----------------------------------------------------------------
Number of trucks and
equipment items sold 1,981 3,099 3,167
-------------------------------------- ------------------------------
Number of registered
bidders 2,360 1,154 3,071
--------------------------------------------------------------------
Number of countries
represented by bidders 23 57 35
----------- ---------------------------------------------------------
Number of American
states represented
by bidders 47 21 47
------------------------ --------------------------------------------

About Ritchie Bros.40 per diluted
weighted average share, compared to $6. Subsequent to March
31, 2005, the Company completed the acquisition of an approximately
125-acre property in Houston, Texas, on which it intends to construct
a new permanent auction site. We saw record-breaking performances at several
of our auction sites, including the largest auction in the Company's
history at our permanent auction site in Orlando, Florida in
February .com), click on 'About Ritchie Bros.

auctioneering porcelains

S.3 million after tax gain
recorded on the sale of land that was not used in the Company's
operations. Particularly strong sales
volumes in the United States and Canada contributed to the growth in
gross auction sales over the prior year's first quarter."

During the quarter, bidders participating in Ritchie Bros.