IronPlanet, the leading online marketplace for buying and selling used heavy equipment and trucks, has announced strong results from its inaugural European Unreserved Public Auction, hosted in association with Finning UK & Ireland.
The unique land based auction event was held on Wednesday 20th April 2016 at the famous Rockingham Motor Speedway in Northamptonshire and was attended by 17,580 prospective buyers both physically on site, as well as through IronPlanet’s online platform. All 176 items that were up for auction were sold, which amounted to approximately £4.9 million in gross merchandise volume.
Attendees were presented with a wide range of quality Cat® equipment that was provided by IronPlanet’s renowned industry partners, including Finning UK & Ireland, which was the primary contributor of machines, but also a number of other partners which included Ardent Hire Solutions. Telehandlers, track excavators, mini excavators, medium dozers and articulated trucks were just some of the machines available for purchase – all of which were in excellent condition, had low hours and low mileage.
“To have sold every single item to buyers that either attended the auction in person or through IronPlanet.com is a testament to the work the IronPlanet and Finning teams did to make this auction happen, but more importantly, it is a reflection of the demand that there is for this equipment worldwide,” said Felipe Fernández-Urrutia Massó, Vice President of European Sales at IronPlanet. “We had bidders from 33 countries, all of whom were reassured by both the Cat® and Finning brands, as well as IronPlanet’s own IronClad Assurance® equipment certification and inspection reports. All in all, the whole event was a tremendous success and we look forward to hosting more land based auctions with our partners in the future.”
Sales were generated by those attending the auction in person and via IronPlanet’s worldwide online marketplace. Buyers came from 23 countries, including the United States, Canada, four countries from the Middle East and 17 countries across Europe.
Onsite attendees were presented with a number of additional perks, including live machine demonstrations, direct contact with machine experts from IronPlanet and Finning, as well as a host of activities on the day which included rides around the speedway in NASCAR stock car racers.
The UK onsite auction is a result of IronPlanet’s merger with Cat Auction Services in April 2015, and is the first of its kind in Europe following a series similarly successful events that were held in North America and Canada. Given the proven demand within the European market and the strong foothold which has been established in the UK, IronPlanet has announced two further land based auctions in 2016. They are to be held in Belgium on October 8th and in the UK on October 16th.