Pleasanton, Calif.-based IronPlanet last week reported a record-breaking first quarter performance, with gross auction sales of $91.3 million — an increase of 26 percent over the first quarter of 2008.
“IronPlanet’s continuing record-breaking performance is a direct reflection of the value that our used equipment marketplace continues to deliver to our sellers and buyers,” said Gregory Owens, chairman and CEO of IronPlanet. “Companies looking to dispose of inventory and reduce their equipment fleets are increasingly turning to IronPlanet in recognition of our global buyer base and our ability to obtain strong price performance.”
Registrations to IronPlanet’s online auction marketplace continued on a record pace in the first quarter with an increase to nearly 10,000 global registrations a month, up 15 percent over first-quarter 2008.
IronPlanet drew a record number of visitors to its auctions in the first quarter, averaging more than 15,000 per auction. International buyers bid on more than 50 percent of the items sold in IronPlanet’s North America auctions during the first quarter, resulting in 19 percent of equipment sold to buyers outside of the United States.
“While I am very pleased with our first-quarter performance, I am equally encouraged with our prospects over the balance of 2009 as we continue our share gains across all customer segments and geographies,” said Owens.
In other news, the company last week also announced that IronPlanet Real Estate LLC recently completed a $2.5 million commercial real estate sale in Gibsonton, Fla.
The property — four warehouse buildings totaling more than 57,000 square feet on 16 acres of land — was a former truss manufacturing facility owned by 84 Lumber Co., a leading supplier of building materials and services to professional contractors based in Eight Four, Pa.
“We sell our used equipment through IronPlanet, and we’re very pleased with the results,” said Cheri Bomar, corporate counsel with 84 Lumber Co. “We thought IronPlanet’s broad buyer base would be attractive for selling our commercial property, and we were right. Just like selling equipment, IronPlanet delivered fair market value for our property.”
84 Lumber Company has engaged IronPlanet Real Estate to sell additional properties in North Carolina on July 7. Interested buyers can receive further information on the real estate sale at www.ironplanet.com.
IronPlanet Real Estate has partnered with Higgenbotham Auctioneers in real estate sales, which brings more than 45 years of experience in successful real estate auction marketing, and extensive experience in marketing industrial, commercial and agricultural properties.
IronPlanet is a leading online auction company for used construction and agricultural equipment. It is backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo.