IronPlanet sells US$26.8mn of used heavy equipment at latest global auction

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.
February 10, 2014 Read time: 2 mins
714 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.

“We were very happy to see the IronPlanet sale scheduled at the start of the year because it allowed us to take advantage of strong demand and prices in advance of a lot of equipment hitting the market in February,” said Ron Sopko, owner of Sopko Contracting in Pennsylvania. “The ability to sell from our location as well as IronPlanet’s global reach gives us a better net return on the equipment we sell.”

“Our global reach and early sale dates have proven attractive to sellers looking to take advantage of strong demand and prices early in the year,” said Greg Owens, IronPlanet chairman and CEO. “We are planning several large sales in the first quarter as sellers are increasingly looking to IronPlanet as a better way to manage their inventory as opposed to forcing their items into one quarterly event where supply can exceed demand.”

IronPlanet will continue to feature regular online weekly auctions in North America and monthly online auctions of equipment in Europe and will close February with a two-day global sale 26-27 February. IronPlanet will host auctions every week in March, in addition to a two-day sale 27-28 March, featuring quarry and aggregate equipment as well as cranes.
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