Auction strength

Positive news comes from equipment auction specialists Ritchie Bros and IronPlanet. Ritchie Bros reports strong performance for its online construction machinery marketplace, EquipmentOne, in the first year since the service was set up. The service was initially launched in early 2013 and had a full commercial launch in April. The Marketplace already has hundreds of thousands of qualified members around the world. Sellers can make their own listings or work with Ritchie Bros to create listings including equ
April 4, 2014 Read time: 2 mins
Positive news comes from equipment auction specialists 318 Ritchie Bros and 714 IronPlanet. Ritchie Bros reports strong performance for its online construction machinery marketplace, EquipmentOne, in the first year since the service was set up. The service was initially launched in early 2013 and had a full commercial launch in April. The Marketplace already has hundreds of thousands of qualified members around the world. Sellers can make their own listings or work with Ritchie Bros to create listings including equipment photos, detailed asset information, and price parameters. Negotiations take place using the Online Negotiation Engine. Buyers are able to make transparent offers for the seller's consideration during the listing period. When the listing period concludes and the item is sold, EquipmentOne provides financial settlement services to ease transactions.

Meanwhile IronPlanet made a strong start to 2014, selling US$26.8 million in used heavy equipment and trucks during a global auction event held recently. The four-day auction included equipment listed in the US, Canada, Mexico and Europe.

In Total, 1,795 items were sold to over 1,000 buyers. Strong demand in the market was demonstrated by online bids placed from 78 different countries as well as from every US state and all 10 Canadian provinces. IronPlanet will continue to feature regular online weekly auctions in North America and monthly online auctions of equipment in Europe.

For more information on companies in this article

Related Content

  • Auction firm Ritchie reports strong results
    February 6, 2014
    Auction firm Ritchie Bros reports strong performance for its online construction machinery marketplace, EquipmentOne, in the first year since the service was set up. The service is complementary to the firm’s unreserved auction business and provides an online marketplace for the sale of equipment. The company says it offers buyers and sellers a place in which to negotiate, complete and settle transactions in a safe and transparent environment. This was initially launched in early 2013 and had a full commerc
    Read More
  • IronPlanet sells US$26.8mn of used heavy equipment at latest global auction
    February 10, 2014
    IronPlanet, a leading online marketplace for used heavy equipment, has made a strong start to 2014, selling US$26.8 million in used heavy equipment and trucks during a global auction event held 28-31 January. The four-day auction included equipment listed in the US, Canada, Mexico and Europe. In total, 1,795 items were sold to over 1,000 buyers. Strong demand in the market was demonstrated by online bids placed from 78 different countries as well as from every US state and all 10 Canadian provinces.
    Read More
  • IronPlanet celebrates 14 years of online auctions
    March 28, 2014
    IronPlanet, the leading online marketplace for buying and selling used heavy equipment, is this week celebrating the 14th anniversary of its first auction. “We’re excited to celebrate 14 years of growth since our first online auction,” said Greg Owens, CEO, IronPlanet. “We have attracted more than one million registered users around the globe and sold more than US$3.5 billion of equipment over the Internet. Our success is based on our customers’ recognition that IronPlanet offers the industry’s most eff
    Read More
  • Ritchie Bros sets auction record in Florida
    February 23, 2015
    Heavy equipment auction specialist Ritchie Bros set a record for a recent event in Florida. The firm sold over 10,500 items of heavy equipment items and trucks at the auction, held last week in Orlando, Florida. The five-day unreserved public auction ran from February 16th – 20th and attracted over 9,350 bidders who made offers either in person at the event or online. The bidders came from 81 countries while the auction generated over $179 million in gross auction proceeds. This included over $66 million of
    Read More

Highlighted Content