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IronPlanet Celebrates 14 Years of Online Auctions

March 26, 2014, 05:59 AM
Filed Under: Auction News
Related: Auction, IronPlanet

IronPlanet will celebrate the 14th anniversary of its first auction this week.

“We’re excited to celebrate 14 years of growth since our first online auction,” said Greg Owens, CEO, IronPlanet. “We have attracted more than one million registered users around the globe and sold more than $3.5 billion of equipment over the Internet. Our success is based on our customers’ recognition that IronPlanet offers the industry’s most efficient and timely way to buy and sell used heavy equipment.”

IronPlanet held its first online auction March 23, 2000 which consisted of one seller, 32 bidders and 22 items within the construction industry. This year, IronPlanet held a four-day online auction that featured 406 sellers, 2,996 unique bidders from 78 countries and 1,795 items sold.

Today, IronPlanet offers multiple ways for customers to buy and sell used equipment. It holds weekly online auctions in North America, monthly online auctions in Europe and hosts a global Daily Marketplace reserved auction. And through its strategic relationship with Mascus, sellers listing products on Mascus’ global sites can now move their equipment from listing to auction on IronPlanet with the click of a mouse.

IronPlanet has also expanded into new asset categories since its first online auction. IronPlanet acquired Asset Appraisal Services and launched TruckPlanet in 2013 to better serve the truck market. In less than a year, TruckPlanet has sold more than $50 million of trucks and registered over 50,000 new prospective truck buyers. IronPlanet has also formed strategic relationships with GraysOnline in Australia and Clear Asset in South Africa to better serve the global mining industry. Additionally, IronPlanet has successfully expanded into the crane industry, highlighted by the sale of a $3 million walking dragline last year.

IronPlanet has also added numerous value-added services to enhance the user experience since its inception. IronPlanet now offers appraisal services to help sellers determine the fair market value of their equipment, as well as transportation services and equipment financing for buyers.

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