IronPlanet Breaks Single-Day Auction Sales Record

IronPlanet, Pleasanton, Calif., an online auction company for used construction and agricultural equipment, announced the completion of its largest single-day auction on Jan. 29, with $20.88 million of equipment sold. This represents a 10 percent increase over the company’s previous single-day record of $18.97 million, set on Jan. 31, 2008.

“We’re extremely pleased with the results we saw in our January 29 auction,” said Gregory Owens, chairman and CEO of IronPlanet. “In spite of the challenging market environment, the results of the recent auction clearly demonstrate that sellers of used equipment are increasingly turning to IronPlanet to market and sell their equipment to our global marketplace of buyers. IronPlanet continues to prove that our price performance and lower cost to sell offers more compelling value in terms of how sellers move their equipment versus traditional auction channels.”

More than 15,000 visitors from 147 countries participated in the auction, which featured more than 750 lots located in 30 states. Twenty percent of the equipment sold at auction went to international buyers located in Latin America, Europe, and the Middle East.

“2009 will be a significant year for IronPlanet as our international expansion initiatives are well underway with our global auction marketplace operational with online auctions now being conducted in North America, Europe, and Australia,” Owens said. “Customers around the world are turning to IronPlanet as a faster and more profitable way to buy and sell used equipment. As we continue to expand our global reach and enhance the services we provide, I’m confident we will increase sales and our share of the global auction marketplace.”