IronPlanet® (www.ironplanet.com), the world’s leading online auction company for used construction and agricultural equipment, reported a record-breaking first quarter performance, with gross auction sales of $91.3 million — an increase of 26 percent over the first quarter of 2008.
“IronPlanet’s continuing record-breaking performance is a direct reflection of the value that our used equipment marketplace continues to deliver to our sellers and buyers,” said Gregory J. Owens, Chairman and CEO of IronPlanet. “Companies looking to dispose of inventory and reduce their equipment fleets are increasingly turning to IronPlanet in recognition of our global buyer base and our ability to obtain strong price performance.”
“Our weekly auction schedule in North America and monthly auctions in Europe and Australia / Southeast Asia provide our customers with the type of inventory management processes they need to better manage their assets, ultimately providing strong market prices and access to cash on a more frequent cycle than can be achieved with traditional auctions.”
Registrations to IronPlanet’s online auction marketplace continued on a record pace in the first quarter with an increase to nearly 10,000 global registrations a month, up 15 percent over first quarter 2008.
IronPlanet drew a record number of visitors to its auctions in the first quarter, averaging over 15,000 per auction. International buyers bid on more than 50 percent of the items sold in IronPlanet’s North America auctions during the first quarter, resulting in 19 percent of equipment sold to buyers outside of the United States.
“While I am very pleased with our first quarter performance, I am equally encouraged with our prospects over the balance of 2009 as we continue our share gains across all customer segments and geographies,” said Owens. “Our continued global expansion this year provides equipment sellers around the world a unique and unmatched opportunity based on our proven business model delivering higher net proceeds on their used equipment.”
First Quarter 2009 Highlights
IronPlanet broke their single-day auction sales record on January 29, with gross auction sales totaling $20.9 million.
IronPlanet held its first European auction on January 28 and is currently conducting monthly auctions in Europe as well as Australia / Southeast Asia.
IronPlanet conducted two large one-owner liquidations for Kent Rental in Florida and Viebrock Construction & Equipment Inc. in Missouri.
IronPlanet Real Estate LLC completed a $2.5 million commercial real estate sale for 84 Lumber Company.
About IronPlanet
IronPlanet is the world’s leading online auction company for used construction and agricultural equipment. Our sellers achieve more profitable sales through low transaction costs and better price realizations through a global audience of buyers. Our guaranteed inspection reports and exclusive IronClad Assurance enable buyers to bid with a high degree of confidence. IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com.