Agricultural & Construction Equipment Web Auctions Reach Gross Sales of $377 Million
Global leader, IronPlanet, recently announced an increase of 43% in sales in the past year.
A privately held corporation, IronPlanet specializes in the sale of used agricultural and construction equipment via online auction. �Founded in 1999, IronPlanet gives buyers and sellers around the globe the opportunity to purchase used equipment through its website and on-line auctions. From air compressors to welders, buyers can search and preview specific equipment through IronPlanet.com.� With its Ironclad Assurance and posted biweekly inspections, IronPlanet gives its buyers the ability to bid for machinery and other equipment confidently.� By using IronPlanet, sellers benefit with a global sales venue, low transaction costs and higher sales price.
Recently, IronPlanet reported annual gross auction sales totaling $377 million.� An estimated $96 million in gross auction sales was attributed to its fourth quarter period; reflecting an increase of 26% over the third quarter.�� IronPlanet estimates more than 15,000 potential bidders at each auction.� �Also in 2008, IronPlanet noted an 85% increase in monthly global registrations totaling 8,200 new registrations each month.� In addition, a record-breaking 59 auctions were held by IronPlanet in 2008. While most sales activity was domestic, 27% of sales occurred in markets outside the United States.
More recently, IronPlanet grossed $4.24 million in sales through its first online re-sale auction in Europe held January 28, 2009. �With growing number of global registrations, Iron planet has continued to increase its footprint with recent expansion in Canada and Australia and a newly opened European base in Dublin, Ireland. �IronPlanet�s North American base is located in Pleasanton, California.
Furthering their access in the online equipment re-sale market, IronPlanet launched on-going equipment re-sale programs with John Deere and AGCO in 2008.� IronPlanet provides John Deere the ability to sell their used agricultural equipment inventory from their dealer-to-dealer website (UsedXpress.com) and John Deere�s public-used equipment through IronPlanet.� In a similar agreement with AGCO Corporation in North America, IronPlanet provides AGCO�s 1,200 dealers the ability to market and sell its used equipment through IronPlanet�s auctions.
IronPlanet�s Chief Executive Officer and Chairman of the Board is Gregory J. Owens who leads the direction and execution of IronPlanet�s business strategy.� Mr. Owens� vast experience touts a proven track record of revenue growth and management.� Previously, Mr. Owens was the Managing Director at Red Zone Capital and earlier Chairman and CEO of Manugstics Group, Inc.� Recently appointed Senior Vice President and Chief Financial Officer, Michael J. O�Donnell is responsible for the company�s financial management and operations. Mr. O�Donnell also brings an impressive acumen with previous positions in Procuri, Inc, Price Waterhouse Corporate Finance and SunTrust Capital Markets. ��