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IronPlanet conducts record-breaking auction

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IronPlanet, a leading online marketplace for used heavy equipment, conducted a record-breaking two-day online auction March 17-18. The auction produced the company’s highest single-day auction sales total to date surpassing $22.8 million. The two-day auction totaled $26.7 million in equipment sales.  

IronPlanet had more than 14,500 auction attendees at its March 17 event participating from 150 countries. There was strong global bidding and buying with international bids on over 60 percent of the equipment and 26 percent of the units sold to international buyers.

“IronPlanet continues to attract a very strong global buyer base as was evident by our March 17 and 18 auctions,” said Mike Groves, senior vice president North American sales at IronPlanet. “It is through our global buyer reach that we continue to consistently deliver fair market pricing for the equipment that we sell. Our broad buyer base and our lower cost to sell versus traditional auction channels enable us to deliver greater value and a higher net return for our sellers.”

IronPlanet's two-day sale had a broad range of construction and agricultural equipment from more than 60 consignors including liquidations from Aiken Grading and Triangle Grading Contractors as well as equipment from Phillips & Jordan, Lafarge North America and many other sellers. IronPlanet sold more than 1,099 items including aerial work platforms, articulated dump trucks, compactors, crawler loaders, farm tractors, graders, scrapers, wheel loaders and other types of heavy equipment.

As part of the March 17 and 18 sales, IronPlanet executed a comprehensive marketing initiative in support of the equipment liquidation facilitated for Triangle Grading Contractors. Wayne Thompson, vice president of Triangle Grading Contractors noted that “The auction was pretty awesome. The auction and resulting price performance exceeded our expectations and we sold more than 160 pieces of equipment. This is our second time working with IronPlanet and the reach of their marketplace and overall ease of doing business has convinced us that IronPlanet is a great way to buy and sell equipment.”

Ronald Brack, fleet manager U.S. Eastern Region of Lafarge North America had a similar experience. “We first used IronPlanet last year when we had equipment at one of our remote locations that we needed to sell,” said Brack. “We didn’t want the added transportation expense, so we decided to give IronPlanet a try and were very happy with the results. This last auction proved just as satisfying. IronPlanet has a great business model and their team is great to work with.”

Phillips & Jordan also sold equipment in the record-breaking sale. “We were extremely pleased with the results of the auction,” said Patrick McMullen, chief financial officer at Phillips & Jordan. “We were new to IronPlanet’s online marketplace experience, but now that we have participated, we will always give consideration to IronPlanet for handling our future fleet disposals.”
 

Company info

3825 Hopyard Road, Suite 250
Pleasanton, CA
US, 94588-8528

Website:
ironplanet.com

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