Ritchie Bros. Auctioneers (RBA, RBA.TO) on Thursday revealed its support for the California equipment owners to surpass the local market conditions and achieve global market value for their surplus equipment by attracting international bidders to an unreserved industrial auction in Los Angeles, California.

According to the company, the multi-million dollar unreserved auction featured 2230 lots from more than 450 consignors and generated over US$29 million in gross auction proceeds. In addition, the company added that the auction included a large selection of off-road diesel equipment that recently became subject to new California Air Resources Board or CARB regulations requiring all non-compliant equipment items be retrofitted, re-powered or replaced.

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Posted: 09|2|07 at 5:05 pm. Filed under: US Auction News.