IronPlanet: Record Proceeds From First Ever Orlando Auction

Construction Equipment Guide, National Edition, 3/28/12

IronPlanet an online marketplace for used heavy equipment, sold more than $50 million of gross merchandise volume during its first onsite and online auction Feb. 21 to 24. The four-day sale was IronPlanet’s largest auction in company history.

“We are very pleased with the seller and customer embracement as well as price performance of our inaugural Florida auction,” said Greg Owens, CEO of IronPlanet. “For the first time in company history we hosted an onsite and online auction, which resulted in our largest auction to date, providing further confirmation of the vast reach and efficiency of the IronPlanet business model.”

More than 42,000 attendees from 146 countries participated over the four days in the auction. Buyers outside the United States bid on more than 65 percent of the equipment, with more than 23 percent of units sold to international buyers. Equipment sold throughout the world including such far away countries as Taiwan, Australia, Saudi Arabia and South Africa.

Items were sold from more than 172 sellers located in 44 states, including equipment from Ring Power Corporation, one of the largest Caterpillar dealers in the southeastern United States.