IronPlanet, a leading online auction company for used construction and agricultural equipment, last week announced the completion of its largest single-day auction on Jan. 29, with $20.88 million worth of equipment sold. The record-setting auction represents a 10-percent increase over the company’s previous single-day record — $18.97 million, set on Jan. 31, 2008.
“We’re extremely pleased with the results we saw in our January 29 auction,” said Gregory Owens, chairman and CEO of IronPlanet. “In spite of the challenging market environment, the results of the recent auction clearly demonstrate that sellers of used equipment are increasingly turning to IronPlanet to market and sell their equipment to our global marketplace of buyers.”
More than 15,000 visitors from 147 countries participated in the auction, which featured more than 750 lots located in 30 states. Twenty percent of the equipment sold at auction went to international buyers located in Latin America, Europe and the Middle East.
“2009 will be a significant year for IronPlanet as our international expansion initiatives are well underway with our global auction marketplace operational with online auctions now being conducted in North America, Europe and Australia,” said Owens. “As we continue to expand our global reach and enhance the services we provide, I’m confident we will increase sales and our share of the global auction marketplace.”Headquartered in Pleasanton, Calif., IronPlanet provides guaranteed inspection reports and exclusive IronClad Assurance to 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.