Ultimate 'Toy' Auction to Take Place July 15; Classic Cars to Be Sold in Unreserved Auction
Jody Nelson's embezzlement-funded items to be sold unreserved to the highest bidders on July 15
For immediate release June 5, 2006
LUBBOCK, TEXAS Ritchie Bros. Auctioneers (NYSE and TSX: symbol RBA), the world's largest industrial auctioneer, is holding a unique unreserved auction on July 15, 2006, on behalf of Robert Wilson, the court-appointed receiver for the assets of Jonathan D. 'Jody' Nelson, who plead guilty on April 27, 2006 to embezzling more than US$77 million from his employer. Nelson is currently awaiting sentencing and his assets are being sold pursuant to a court order for restitution.
Some of the over 1,100 items in this auction include automobiles: 1954 Chevrolet Corvette convertible; 1956 Chevrolet Belair; 1965 Ford Mustang GT; 1976 Cadillac El Dorado; 1982 Chevrolet Corvette; 1994 Chevrolet Corvette; 2002 BMW 745L; 2003 BMW Alpina Roadster Z8 (odometer: 469 miles); 2005 Ford Mustang GT; 2004 Lexus LS430 sedan; 2005 Lincoln Town Car Signature Series; 2006 Mercedes-Benz S5S; and a 2003 Mercedes-Benz S430. All the items can be seen at www.rbauction.com (click on the Lubbock, TX link in the auction calendar).
"It's a one-of-a-kind auction sale, already receiving a lot of attention from buyers of classic cars, autographed sports memorabilia, aircraft, SUVs and the like," says Nick Nicholson, Senior Vice President of Ritchie Bros. "In over 40 years of business, we've never seen such a vast array of unique items in one auction&let alone a Ritchie Bros. unreserved auction, where everything sells on auction day to the highest bidder, regardless of price. We think interested buyers will travel from near and far to be part of the auction action on July 15. It truly is the ultimate 'toy' auction."
There are over 1,100 items in the unreserved auction. Other items include: . Sports memorabilia: autographed jerseys from Michael Jordon, Walter Payton, Barry Bonds, Larry Bird, Steve Nash, Wayne Gretzky, and more; a commemorative baseball display signed by Mickey Mantle, Ted Williams and Joe DiMaggio; a 2004 World Series Red Sox jersey signed by the team; Babe Ruth player transfer documentation (signed and framed), and Tiger Woods Collector Series golf balls. . Aircraft: a Cessna 310Q; Cessna 182Q Skylane II; Cessna 172L Skyhawk; and a Hughes MD500E 369E helicopter. . Marine: 17 pleasure craft, including a 2002 and a 2000 Fountain Lightning 42 ft boat . Motorcycles: 2003 Harley-Davidson Fat Boy 100th Anniversary; 2005 Bubba Shobert custom; 1999 Titan Gecko . 11 sports utility vehicles, including a 2006 Lexus LX470 (odometer: 8,743 miles) . Exercise equipment; gaming tables; plasma flat screen and large screen TVs; grills; jet skis; watercraft accessories . Antique furniture . Ranch equipment: Crawler tractors; skid steer loaders; motor graders; hydraulic excavators; loader backhoes; vibratory smooth drum rollers; truck tractors; dump trucks; fuel tank trailers; van trucks; flatbed trucks; pickups; trailers; forklifts; agricultural tractors; mowers; grain handling equipment
Auction start time: 8 am CDT. Address: Town and Country Air Park -- 12201 County Road 2500, Lubbock, TX
For more information, call the Ritchie Bros. Fort Worth office at: 817-237- 6544 or 1-800-969-0226. A full listing of items in this auction can be found at www.rbauction.com.
Ritchie Bros. unreserved auctions are unique and interesting for bidders and auction attendees alike, because every item at the auction is sold quickly (often in under a minute) to the highest bidder, regardless of price. Interested buyers travel to Ritchie Bros. auctions from around the world, knowing the sales are truly unreserved and that both the starting bids and the final auction prices are determined by the bidding crowd. Last year, Ritchie Bros. held more than 150 unreserved industrial auctions worldwide, generating gross auction sales of over US$2 billion.
Deposits or bank letters and photo identification are required for bidder registration. Interested buyers are able to come to the auction site up to a week prior to the auction to inspect the items, review available history and ask questions. On auction day, bidders can bid live at the Lubbock auction or online, at www.rbauction.com, using the Company's internet bidding service rbauctionBid-Live (advance online registration is required for this service).
About Ritchie Bros. Ritchie Bros. is the world's largest auctioneer of industrial equipment, operating through over 110 locations in more than 25 countries around the world. 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. The Company maintains a web site at www.rbauction.com
