Auction website IronPlanet reports $3bn in equipment sales

Global sales come in the six years since site expanded in Europe, Middle East and Africa

PHOTO: IronPlant has sold $3bn worth of equipment worldwide over six years, says Felipe Fernández-Urrutia Massó, vice president of European sales. Credit: IronPlanet

IronPlanet has made $3 billion in sales since it expanded to the Europe, Middle East and Africa market six years ago, the online equipment auctioneer said as it announced a revamp of its services.

The company has introduced changes to its main trading site, including an improved auction-schedule listing, the ability to view results by equipment category, and recommendations based on a user’s browsing history.

It comes as Felipe Fernández-Urrutia Massó, vice president of European sales at IronPlanet, revealed the company has sold $3bn of equipment worldwide since it made the decision to enter EMEA six years ago.

2014 saw a number of major developments for the company, said the executive.

“In 2014, we consolidated a number of large, international accounts – from rental companies like Loxam and Ramirent, to major contractors throughout Europe, such as Bouygues and Vinci in France, and FCC and Ferrovial in Spain.”

“These renewed, bolstered partnerships are made possible thanks to the strength of our unique, online business model, which enables us to sell equipment after a project has finished from any part of the world – whether from Tanzania, Equatorial Guinea, Morocco, Colombia or Australia.”

He predicted that the performance of the European construction market in 2015 will be mixed.

“The Southern European markets will remain the same, without much activity. The French construction market has also dipped somewhat, and this is not likely to change in 2015. However, we recognise that, as a result of this, there are opportunities for us to sell equipment from France, as fleets are downsized.”

Nevertheless, the northern markets are more stable, he said.

“The UK market is doing well, Ireland is beginning to pick up again, and whilst the Dutch market has dipped slightly, it is nowhere near at the same rate as the South. Scandinavia looks set to have mixed successes – while Denmark is picking up at a very slow rate and Finland is likely to be heavily affected by problems in Russia, by contrast there are large projects happening this year in both Sweden and Norway. These projects mean new equipment is being bought, and therefore used equipment will be sold to make way for the newer machines.”

In 2014, IronPlanet also won a contract to sell all the rolling stock from the military of the US army, driving them to launch GovPlanet.

“It’s a truly outstanding contract, and it really gives IronPlanet huge visibility. The equipment for sale is fantastic quality, and always generates a huge audience,” said Felipe Fernández-Urrutia Massó.

The company also signed an agreement to merge IronPlanet and Associated Auction Services LLC, an alliance of Caterpillar and several of its independent Cat dealers, that operates under the name of Cat Auction Services, he added.

“The power of IronPlanet’s technology, multiple marketplace formats and global buyer base coupled with Cat Auction Services’ live, onsite auction format and deep equipment expertise will provide the most powerful and complete suite of auction remarketing tools in the industry.”

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