Constructionshows
IronPlanet® (www.ironplanet.com) is the world’s leading online auction company for used construction and agricultural equipment.
Unlike other equipment auctions, IronPlanet’s model is wide reaching on an international scale because it is all executed online; an average of 110 countries participates during an auction. International activity has become a significant portion of IronPlanet’s business – with 27% of equipment being sold to international buyers.
The European headquarters have a multi-lingual work force; the call-centre can handle calls in 13 languages. The website is available in five European languages.
The other significant differentiator in the business model is the guarantee provided by IronPlanet to its customers on the veracity and quality of equipment condition, which strengthens a business relationship based on trust. “A key benefit that IronPlanet offers, unlike other auctions, is our guaranteed inspection reports,” says Tom Cornell, Managing Director of IronPlanet Europe “These inspection reports, backed by our exclusive IronClad Assurance™, ensure that our buyers know the true condition of the equipment and can bid with confidence.”
Detailed inspection reports for each piece of equipment in the auctions can be viewed on www.ironplanet.com. Inspection reports include a visual inspection of key systems and components along with ratings and notes, images of the equipment, wear-related measurements and oil / fluid samples when appropriate. IronPlanet inspection reports are considered the industry standard by both buyers and sellers.
For the seller, IronPlanet has a number of advantages. There are no transport costs to an auction house, the equipment stays on the seller lot until paid and the buyer pays for disassembly and transportation. The worldwide audience and high bidder participation also highly increases the value of the sold items.
75% of buyers are repeat buyers, and 97% of customers indicate they would recommend IronPlanet to a friend
Since IronPlanet™ first launched its construction equipment auction website in 2000 from California; the company has grown from strength to strength. With support from funding partners such as Caterpillar, Komatsu America, Volvo Construction Equipment and others, Iron Planet soon became the third largest equipment auction company in North America.
Now it is the world leader in online auctions for construction equipment operating in not only California (headquarters), but also in Europe, Middle East, Australia and Canada.
Currently, IronPlanet holds online auctions every month in Europe, with a global audience of more than 4,000 visitors each auction. IronPlanet commences their auctions on a monthly basis, with the intention of holding more frequently every two weeks.
The groundbreaking, first European auction on January 28 2009 featured more than 150 machines from McCormick & McNaughton of Ireland, Pon CAT Rental of Denmark, Liebherr of the U.K., JLG EMEA, CAT Finance France and other suppliers from the Netherlands, France, Ireland and Poland. The auction featured a broad range of equipment, including aerial work platforms, backhoes, compactors, dozers, excavators, loaders, skid-steers, trucks and more.
“IronPlanet did complete a record year in 2010 and our launch in Europe turned out to be another significant milestone in our international growth strategy,” said Tom Cornell. “I am pleased with the market reception to our European launch and the number of equipment consignments in our European auctions. The market excitement and auction participation are testaments to our strong value proposition, allowing buyers and sellers a more cost effective and convenient way to buy and sell used construction equipment versus traditional auctions.”
To learn more about IronPlanet, or to contact your local representative, please visit the website: www.ironplanet.com.
Source: IronPlanet Press Release
