IronPlanetlast week announced it sold more than $50 million of gross merchandise volume during its first onsite and online auction in Orlando Feb. 21-24. The four-day sale was IronPlanet’s largest auction in company history.
“We are very pleased with the seller and customer embracement as well as price performance of our inaugural Florida auction,” said Greg Owens, CEO of IronPlanet. “For the first time in company history we hosted an onsite and online auction, which resulted in our largest auction to date, providing further confirmation of the vast reach and efficiency of the IronPlanet business model.”
More than 42,000 attendees from 146 countries participated over the four days in the auction. Buyers outside the U.S. bid on more than 65 percent of the equipment, with more than 23 percent of units sold to international buyers.
Items were sold from more than 172 sellers located in 44 states, including equipment from Ring Power Corp., one of the largest Caterpillar dealers in the southeastern U.S.
“We chose to participate in IronPlanet’s first Florida auction because of their ability to reach people globally in the used equipment market,” said Frank Fowler, senior vice president and director of used sales at Ring Power Corp.
IronPlanet is a leading online marketplace for used heavy equipment. Its guaranteed inspection reports and exclusive IronClad Assurance are designed 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.