Pleasanton, Calif.-based IronPlanet (www.ironplanet.com), a global online auction company for used construction and agricultural equipment, recently conducted a one-owner auction for SLV Earthmovers of Monte Vista, Colo. The auction liquidated $4.22 million of equipment, achieving 136 percent of its initial price target.
The SLV Earthmovers auction drew a record 15,000 potential bidders to the auction and achieved an average of 41 bids per item.
“Personally, I was expecting about a $3.5 or $3.6 [million] sale, so the results we got were wonderful,” said Jim Willschau, owner of SLV Earthmovers. “My business is a high-equity, heavy cash flow business, and anytime you can turn your money that fast and get the results we got, it’s a huge factor.”
“IronPlanet’s ability to exceed price targets through its global audience of buyers is exemplified in our one-owner auctions,” said Mike Groves, vice president of North American sales. “This exceptional price realization is also a testament to SLV Earthmovers’ reputation for maintaining its equipment fleet, which buyers were able to evaluate with confidence through our IronClad Assurance guarantees.”