During December, IronPlanet, a leading online auction company for used heavy equipment, has sold over US$28.5 million worth of machinery in three separate auctions.
The auctions attracted a global audience of heavy equipment buyers including a significant number of bidders from Australia and New Zealand.
“December was certainly a bumper month for IronPlanet in the US,” says Graeme McPherson, the managing director for IronPlanet Australia, “there were close to 1500 items available across the three auction dates.”
“It provides a clear indication that the global demand for heavy equipment continues to grow, with the Australasian market being a key player.”
Australasian buyers made the most of the recent strength of the local currency and purchased a number of items in all three December auctions.
Successful bidders from the region purchased items like two 2004 Volvo A40D Articulated Dump Trucks, which sold for US$190,000 and US$186,000 respectively.
Other items purchased by local buyers included 2005 Caterpillar 953C Track Loader for US$66,000, a 2005 Vermeer V120 Trencher at US$48,000, and 2006 Caterpillar 226B Skid Steer purchased for US$17,000.
“There were buyers from all over the world, including the Middle East, South America and Africa,” says McPherson.
“The continued global appetite for heavy equipment means that we are expecting a strong interest in the first Australian-based auction, which will be held on 14 February.”
While stock in the upcoming auction will be Australian-based, the inventory will be marketed to IronPlanet’s international database of potential buyers.
“It’s an ideal opportunity for companies looking to realign their equipment fleet at the start of 2008,” explains McPherson.
“Selling online provides a number of significant advantages to the seller. There is no need to incur transport costs as the equipment is sold from its current location. IronPlanet handles the entire process, from marketing to ensuring timely payment.”
IronPlanet Australia is currently in the process of preparing detailed inspection reports on the equipment that will be available in 14 February auction.
“There is still time for sellers to arrange to have their equipment listed in the February auction,” says McPherson.