Industrial auctioneer Ritchie Bros is preparing to hold its 10th auction in the Jebel Ali Free Zone over three days from October 22. The first was held in 1997, a full three years before the company built a new facility and celebrated its opening with a three-day auction in October 2000.

The latest such event conducted in the Jebel Ali Free Zone, in April 2001, attracted over 400 bidders from around the globe resulting in gross auction sales of more than $17 million. Over 40 per cent of attendees were from outside the UAE.The forthcoming October auction is one of more than 30 Ritchie Bros public sales scheduled for the fourth quarter on a global basis including ones in Australia, the Netherlands, the United Kingdom, Spain, Mexico, Canada and the US. "Ritchie Bros offers to their customers, both buyers and sellers, a wide range of services making the auction experience easy," said the company. "Every bidder at a Ritchie Bros auction can be assured that owners and auctioneers will not be bidding against them and each item in every auction will be sold unreserved to the highest bidder with no additional charges or buyers' premiums. "Ritchie Bros guarantees clear title on every items sold. No matter where in the world a customer travels to attend a Ritchie Bros auction, consistent and convenient auction methods greet them." When Dave Ritchie, CEO of Ritchie Bros Auctioneers decided to expand the company's operations into the Middle East in the mid-1990s, the Jebel Ali Free Zone in Dubai became a logical choice as a central hub for the region. With excellent port facilities for shipping in and out and close proximity to Dubai International Airport, hotels and other services, the Jebel Ali Free Zone facilities are similar to those at Ritchie's successful European hub in Rotterdam, the Netherlands. Now serving as the hub for the Middle East and Africa, equipment consignments come from as far as Asia and Europe. While the majority of equipment buyers are from the Middle East and Asian countries, bidders from other parts of the world including Europe and North America travel to Dubai to bid on trucks and equipment in Ritchie Bros auctions.

"From the moment trucks and equipment are consigned to the auction, the Ritchie Bros team of experienced yard, administrative and marketing staff go to work for the customer. Full-colour brochures are mailed to a selection of more than 350,000 qualified buyers around the world and every item is advertised on the rbauction.com web site," the company said.

"Ritchie Bros handles all buyers' issues from fielding inquiries to collecting sale-day proceeds. Once an owner decides to sell with Ritchie Bros, he can be assured that all of the equipment will be advertised to the largest marketplace possible."

Ritchie Bros has built an international network of offices and auction facilities around the globe with offices in Australia, Asia, Europe, the Middle East, Central and South America and all across North America. The company's 24 permanent auction facilities and over 80 offices make it possible for it to conduct more than 120 unreserved auctions in 2000.