Online auction participants bought and sold $105.9m of equipment through IronPlanet in the first half of 2007, a growth of 37% over the same period last year. Bidders bought more than $64m in equipment in the second quarter, with largest auction garnering $13.76m.
“IronPlanet continues to grow by leaps and bounds,” said Robert Alleger, CEO of IronPlanet. “By cultivating an international base of interested buyers and providing secure transactions, sellers realize better equipment prices and buyers are able to purchase with confidence”
IronPlanet averaged more than 9,000 viewers in 17 auctions and more than 22 bids per item. An average of 81% of equipment listed received PriorityBidsSM, a service that allows IronPlanet users to bid on an item prior to the auction. IronPlanet auctions have combined to sell more than 4,700 pieces of equipment in 2007, including a portable central mix concrete plant that sold for $445,000.
With more than 20,000 registered users added since the first of the year, first-time buyers accounted for nearly 25% of all buyers. First and second quarter auctions also averaged an international audience of 19 countries.
March marked the seventh anniversary of the IronPlanet Web site launch.
IronPlanet is a leading online auction company for used heavy equipment. IronPlanet facilitates the sale of a broad range of heavy equipment and trucks by providing an easy-to-use interface and detailed, guaranteed inspection reports enabling customers to buy and sell with confidence.