Indoogoo.com, a social trading network for heavy equipment, is launching the world’s first social online auction service. The website is the first to allow all users to take full control of the auction process.
Indoogoo Auctions will allow users the ability to list any piece of equipment, no matter how large or small, and as auctioneers they control the timing and layout of their own auction. The service is designed to give users the ease and scope of an online auction with the networking and trading potential of a physical auction house, all contained within the framework of a social trading network.
“With Indoogoo Auctions, everybody is an auctioneer,” said Mark Turner, CEO of Indoogoo. “Our motivation behind its development is that we wanted to give Indoogoo users the power to control their own equipment auctions. This is also the first time the social network structure has been incorporated into an online auction service, and we feel it has the potential to dramatically change the way second hand construction equipment is traded around the world. The Auctions function is available to anybody with an Indoogoo account, from individual traders to large equipment manufacturers and rental companies.”
Equipment from a range of industry sectors will feature in Indoogoo Auctions, including construction, mining, agriculture, marine, oil and gas and other heavy industries.
Users can create their own “auction hall,” adapted according to the seller’s own brand. Once created, they can choose from three types of auctions: a timed 30-day auction with a ‘buy now’ price; a day auction with reserve and a day auction without reserve. They then set the time, date and reserve price, if necessary. To take part in an auction, all users must include proven trade references in their Indoogoo profile.
The Indoogoo auction service will launch formally in the second quarter of 2015. For more information, visit www.indoogoo.com.
