The U.S. Department of Defense’s Defense Logistics Agency (DLA) has extended the Commercial Venture 4-Rolling Stock (CV4-R) contract for IronPlanet to manage and sell DLA surplus rolling stock.
The one-year extension is the first of five available under the CV4-R contract, which was originally awarded to IronPlanet in July 2014. The extension comes at the two-year anniversary of the contract award.
With IronPlanet, the DLA has seen surplus assets go to market faster, and has also realized higher proceeds on equipment dispositions. The CV4-R contract is a public-private partnership that has, on average, tripled the return on the DLA’s equipment dispositions, which in turn benefits tax payers.
“IronPlanet is proud to receive this contract extension from the DLA,” said Jeff Holmes, senior vice president, Government Solutions and Auction Management, IronPlanet. “In addition to raising the proceeds and the return on equipment investment, the extension showcases the DLA’s confidence in our capabilities to support the Defense Department as well as other public sector entities through our GovPlanet brand and solutions.”
IronPlanet launched GovPlanet in 2014 to address the specialized equipment disposition needs of public entities, from federal, including military, to state, local, and municipal.
The first online auction took place Nov. 19, 2014, and on December 17, 2014, GovPlanet made history by offering the first Humvees (High Mobility Multipurpose Wheeled Vehicles) to the public.
“It is exciting to receive this extension just as we celebrate our first year of selling government surplus in Europe and our launch of GovPlanet Direct in the U.S., our self-listing service. As our offerings expand and our worldwide footprint grows, we look forward to continued success on behalf of the DLA and other public sector partners,” continued Holmes.
Each week, on average, GovPlanet draws 70,000 or more attendees to its online auctions. Items go into preview two weeks in advance, and bidders can preview photos, video, and inspection reports. All items sold on GovPlanet have been inspected and have IronPlanet’s exclusive IronClad Assurance equipment condition certifications.
In June 2016, IronPlanet announced GovPlanet DirectSM, a new self-listing service for public-sector entities. Online soon, GovPlanet Direct is designed for items that don't need inspection or hands-on help, such as office furniture, computer equipment, and other traditional stock.
National, state, and local public sector entities will be able to connect with IronPlanet’s more than 1.5 million registered worldwide users through the self-service, multi-faceted disposition format. Those entities will also be able to take advantage of weekly online GovPlanet auctions as well as IronPlanet’s reserve price Daily Marketplace format.