IronPlanet Sees Strong Demand in Early 2014
Four-day online auction sells $26.8 million of equipment
PLEASANTON, Calif.--(BUSINESS WIRE)--IronPlanet®, a leading online marketplace for used heavy equipment, kicked off 2014 strong, selling $26.8 million in used heavy equipment and trucks during a four-day global auction event held Jan. 28-31.
“The ability to sell from our location as well as IronPlanet’s global reach gives us a better net return on the equipment we sell.”
The four-day auction included equipment listed in the U.S., Canada, Mexico and Europe. In total, 1,795 items were sold to over 1,000 buyers. Strong demand in the market was demonstrated by online bids placed from 78 different countries as well as from every U.S. state and all 10 Canadian provinces.
“We were very happy to see the IronPlanet sale scheduled at the start of the year because it allowed us to take advantage of strong demand and prices in advance of a lot of equipment hitting the market in February,” said Ron Sopko, owner of Sopko Contracting in Pennsylvania. “The ability to sell from our location as well as IronPlanet’s global reach gives us a better net return on the equipment we sell.”
“Our global reach and early sale dates have proven attractive to sellers looking to take advantage of strong demand and prices early in the year,” said Greg Owens, IronPlanet Chairman and CEO. “We are planning several large sales in the first quarter as sellers are increasingly looking to IronPlanet as a better way to manage their inventory as opposed to forcing their items into one quarterly event where supply can exceed demand.”
IronPlanet will continue to feature regular online weekly auctions in North America and monthly online auctions of equipment in Europe and will close February with a two-day global sale Feb. 26-27. IronPlanet will host auctions every week in March, in addition to a two-day sale March 27-28, featuring quarry and aggregate equipment as well as cranes.
IronPlanet is a leading online marketplace for used heavy equipment. Our sellers achieve more profitable sales through low transaction costs and better price realization through a global audience of buyers. Our guaranteed inspection reports and exclusive IronClad Assurance enable buyers to bid with a high degree of confidence. IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com.