Eiffel Trading launched an updated version of its first online marketplace for participants in the heavy civil, marine, and oilfield industries to buy, sell, and rent used and surplus equipment and material. Eiffel showed the new platform, which removes the need for intermediary support during the procurement process for these types of goods, at ConExpo in Las Vegas earlier this month. Customers looking to sell or rent inventory can list equipment and materials to the online marketplace free of charge and have complete control over the sale process.

Sellers can also now use ‘Flash Sales,’ a standout section on the new platform where users can create a listing and choose to highlight their goods on Eiffel Trading’s homepage. Buyers who cannot find what they are looking for, new ‘Wanted’ listings are available for use. When a match is found on the marketplace, the ‘Wanted’ customer will be notified immediately of the item’s availability. Buyers can also use new website filters to more easily sort and identify desired equipment and material.

The platform also offers users the ability to schedule equipment and material inspections prior to purchase and makes available a third-party escrow service to hold and release funds upon successful completion of a transaction between parties. It also offers online freight calculators.

“The used and surplus equipment market is incredibly fragmented with multiple intermediaries between buyers and sellers,” said Eiffel Trading CEO Zachary Oliva. “With so many participants in the marketplace, the value to the customer has been replaced by margin proliferation. Due to the growth of e-commerce over the last decade, it is clear the B2B industry has crossed a threshold where a majority of customers now prefer the online procurement of goods. Eiffel Trading is proud to launch our updated marketplace and provide users the ability to simply and securely transact from end-to-end, while also supporting their need for cost-containment.”