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.
Finance & Funding

For more information on companies in this article

Related Content

  • Ritchie Bros. to sell more than 2,450 equipment items in Canada auction
    September 24, 2012
    Ritchie Bros. Auctioneers (RBA) aims to sell more than 2,450 equipment items and trucks in a two-day unreserved public auction at its Bolton, Ontario auction site starting tomorrow. Equipment available to the highest bidder includes 115 truck tractors, 54 hydraulic excavators, 46 wheeled loaders, 33 crawler tractors, 30 loader backhoes, as well as a great selection of forestry equipment and cranes. All equipment will be sold without minimum bids or reserve prices.
    Read More
  • Ritchie Bros. to hold UK auction in Donington Park
    July 6, 2016
    Ritchie Bros., the global equipment auctioneer, will hold its first unreserved public auction in the UK after the country voted to leave the European Union. New and used equipment from the construction, transportation and agriculture sectors will be on the block at Donington Park, near Nottingham, England, on July 12. A spokesperson for Ritchie Bros., based near Vancouver in Canada, said hundreds of items will be up for sale. He said it will be interesting to see how, if at all, the UK government’s d
    Read More
  • Increasing interest in secondhand machines
    September 27, 2013
    Auction specialist Euro Auctions claims that market interest in secondhand equipment continues to rise. The firm reports strong demand for secondhand machines at its recent sales. At the firm’s three day event in Leeds in late August, almost 4,000 lots went under the hammer, the highest number sold at their Leeds auctions to date, achieving over £26.6 million. A large volume of stock had to be turned away and the cut-off date for stationary equipment was also earlier than previous auctions. In addition the
    Read More
  • World's largest industrial auctioneer to hold biggest ever auction
    March 2, 2012
    US-based Ritchie Bros Auctioneers, the world's largest industrial auctioneer, is staging its biggest ever unreserved public equipment auction. More than 9,100 heavy equipment items and trucks will be sold over the six-day event in Orlando, Florida from February 13-18, 2012.
    Read More

Highlighted Content