Iron Planet celebrated the 14th anniversary of its first auction this week. The company held its first online auction March 23, 2000, consisting of one seller, 32 bidders and 22 construction items. This year, IronPlanet held a four-day online auction that featured 406 sellers; 2,996 unique bidders from 78 countries and 1,795 items sold.
“We’re excited to celebrate 14 years of growth since our first online auction,” said IronPlanet CEO Greg Owens. “We have attracted more than one million users around the globe and sold more than $3.5 billion of equipment over the Internet.”
IronPlanet holds weekly online auctions in North America, monthly online auctions in Europe and hosts a global Daily Marketplace reserved auction. IronPlanet has also expanded into new asset categories since its first online auction. It acquired Asset Appraisal Services and launched TruckPlanet in 2013 to better serve the truck market. In less than a year, TruckPlanet has sold more than $50 million of trucks and registered more than 50,000 prospective truck buyers. It has formed strategic relationships with GraysOnline in Australia and Clear Asset in South Africa to better serve the global mining industry, and has also expanded into the crane industry.
IronPlanet now offers appraisal services to help sellers determine the fair market value of their equipment, as well as transportation services and equipment financing for buyers.