IronPlanet Sells Record $93.8 Million at Florida Unreserved Public Auction

IronPlanetIronPlanet, a leading online marketplace for selling and buying used equipment and other durable assets, sold more than 2,350 items for $93.8 million in gross merchandise volume, or GMV, at its Cat Auction Services unreserved public auction in Kissimmee, Fla., in February. GMV from IronPlanet’s five-day sale held from Feb. 8-12, increased 95 percent over GMV of $48 million for its three-day sale in February 2015.

“This year’s Cat Auction Services Florida sale was our largest auction ever, with unprecedented support from our customers. The fact that we nearly doubled GMV vs. our sale last year clearly demonstrates the power of our marketplace and the global reach of our online platform,” said Gregory J. Owens, IronPlanet Chairman and CEO. “The industry recognition and groundswell of support from all of our sellers, including Cat dealers, Volvo, Komatsu and other dealers, as well as major OEMs was fantastic. We had planned for great things, and indeed, IronPlanet changed the Florida auction landscape this year.”

IronPlanet had record attendance with more than 100,000 unique online attendees from 175 countries in addition to more than 1,100 registered bidders onsite. Equipment received international bids from bidders in 48 countries.

“We were pleased to partner with IronPlanet this year at their Cat Auction Services sale in Florida. I was impressed with the selection and diversity of equipment at this year’s auction. It was a great event and we were pleased with our results,” said Mike Shane, Used Equipment Specialist with Alta Equipment Co. Alta Equipment Co. is a leading provider of industrial forklifts, heavy construction equipment and warehouse solutions in the Midwest.

IronPlanet expanded its annual Florida auction to a fifth day this year in order to accommodate the many sellers who wanted to sell in this event. The auction showcased equipment from leading OEMs, construction and rental companies, dealers and national retailers, including Caterpillar, Volvo, John Deere, Komatsu, JLG, Genie, Wal-Mart and more. IronPlanet’s innovative LEADERBOARD technology provided online bidders the same views, videos and bidding experience as onsite bidders, while reaching a worldwide audience.

“IronPlanet’s online platform and global reach combined with the variety of equipment this year brought real strength in numbers and great demand,” said Gene A. Crow, Rental Asset Manager, Ohio Cat. “This year’s Cat Auction Services event delivered one of the most comprehensive equipment line-ups of quality Cat and other equipment that we’ve ever seen. We’re looking forward to participating in more regional Cat Auction Services events this year.”

In addition to its regular weekly online sales, IronPlanet has a full schedule of upcoming sales through its Cat Auction Services marketplace in the United States, Canada and the U.K.:

  • March 23 – St. Cloud, Minn., hosted by Ziegler CAT
  • March 30 – Edmonton, Alberta, hosted by Finning
  • April 13 – Denver, hosted by Wagner Equipment
  • April 20 – United Kingdom, hosted by Finning
  • May 3 – Dallas/Fort Worth, Texas, with featured sellers Louisiana Cat, Mustang Cat, PipeLine Machinery, Riggs CAT and Warren CAT

More information for all of these events can be found at www.ironplanet.com.

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