IronPlanet, an online auction company, will be holding another two auctions during December. These auctions follow closely after an auction held on 6 December sold over US$13.6 million in used equipment.
The 6 December auction featured close to 600 items, with a strong emphasis on mining and quarrying equipment. The next auction, scheduled for 13 December, has a broad range of equipment available.
Some highlighted items include:
- 2005 Caterpillar TK711 feller buncher – Bidding opens at US$50,000
- Caterpillar 14G motor grader - Bidding opens at US$43,000
- 2000 Komatsu WA450-3MC wheel loader – Bidding opens at US$34,000
- Caterpillar D11N track dozer – Bidding opens at US$55,000
- 1993 Komatsu PC300 LC track excavator – Bidding opens at US$16,000
The auction also includes a number of items from the bankruptcy sales of Buffalo Coal Company and United Energy, the complete liquidation of Pelino Excavation’s Underground Utility section and NES Rental’s fleet realignment sale.
The final auction for 2007 is scheduled for 20 December and includes a variety of heavy equipment, including:
- Bobcat 863 skid-steer loader – Bidding opens at US$4,500
- 2002 Deere 744H wheel loader w/ bateman grapple - Bidding opens at US$30,000
- 2006 Komatsu CK35-1 multi-terrain loader – Bidding opens at US$15,000
- 2007 Maverick 4750HSP hydraulic hammer – Bidding opens at US$11,500
- 2005 Ingersoll-Rand SD-116F TF single drum (padfoot) vibratory compactor – Bidding opens at US$40,000
“We are expecting to have some ex-rental equipment in the February auction, as equipment rental companies begin to realign their fleets for the New Year. Ex-rental stock is sought after by buyers as it is generally been well-maintained and can have relatively low hours,” says Graeme McPherson, managing director of IronPlanet Australia.
“Contracting companies with equipment that is no longer providing a suitable return on investment will also find that selling online can be an effective way of regaining some value on depreciated equipment. Reconstruction and insolvency practitioners will also find it a valuable tool for managing the disposal of assets.”
Selling online provides good opportunity for companies looking for alternate ways to sell used equipment.
With traditional auctions, sellers are required to transport the equipment to the auction yard, and given the geography of a country like Australia the cost can be high, particularly for large items. And if the item is then left unsold, more costs are incurred as the item has to be transported back to the seller’s premises.
With online auctions, the equipment is sold from the seller’s yard, which means no additional costs are incurred by seller.
“Online auctions can provide a hassle-free, profitable sales channel,” explains McPherson.
“They are not tied to a specific location or region and can reach a global audience of interested buyers. As a broader spectrum of buyers competes to “win” items, owners are able to realise better prices for their used equipment.”