PLEASANTON, Calif. and EAGAN, Minn. – Feb. 27, 2015 – IronPlanet, the leading online marketplace for buying and selling used heavy equipment and trucks, and Cat Auction Services, an alliance of Caterpillar and several of its independent Cat® dealers, sold 1,430 items for $48.1 million in gross merchandise value at its live unreserved public auction in Kissimmee, Fla., which took place Feb. 11-13.
“I am extremely pleased with the first IronPlanet and Cat Auction Services joint auction. The support that we received from the Caterpillar dealers as well as our other OEM, rental company, contractor, and industrial customers provided the best line up of equipment in Florida this February,” said Gregory J. Owens, IronPlanet Chairman and CEO. “The live auction format incombination with our 1.3 million registered online buyers generated strong demand. This event is a great example of using technology to transform the business of buying and selling used heavy equipment.”
The auction showcased equipment from 131 sellers, which included 25 Cat® dealers. Over 21,000 people attended the auction, onsite or online, from 132 countries.
“This joint auction harnessed the strengths of our two companies, breaking our previous Florida auction record by more than two and a half times,” said Gary Trettel, President and CEO of Cat Auction Services. “Our buyers experienced a broader selection of equipment and the power of IronPlanet’s technology created significant global marketing exposure for consignors.”
“With the sale over three days this year, there was a great selection of low hour, quality equipment from Cat dealers,” said Scott Gremillion, General Manager of Louisiana Cat. “IronPlanet’s online platform combined with Cat Auction Services’ live onsite set-up provided a really broad reach, which resulted in participation from a lot of bidders. We look forward to the next auction.”
All of the equipment sold at the auction was backed by IronPlanet’s IronClad Assurance® buyer protection program, which assures buyers that they have an accurate representation of equipment condition, and certain qualified Cat® equipment was backed by the Cat® Equipment Protection Plan.
IronPlanet is the leading online marketplace for used heavy equipment and an innovative participant in the multi-billion dollar heavy equipment auction market. Since 2000, IronPlanet has sold over $4 billion of used equipment online and has built a database of more than one million registered users worldwide. IronPlanet connects buyers and sellers of used equipment with its exclusive IronClad Assurance® buyer protection program and family of sites including IronPlanet®, GovPlanetSM, TruckPlanet®, Kruse EnergySM, allEquipSM and Asset Appraisal ServicesSM. IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield & Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com.
About Cat Auction Services
Cat Auction Services was formed in 2008, and now has Caterpillar Inc., and a large number of its North American dealers as its unit holders.Cat Auction Services facilitates auctions through live events, online bidding and a monthly, timed-out, online platform called eQuipment Yard. Cat Auction Services is raising the bar in the highly competitive heavy equipment auctions market, giving customers a better experience with its innovative LEADERBOARD®, professional staff, TA-1 inspection reports, comprehensive photos and videos, equipment protection plans and equipment financing. For more information, visit www.catauctions.com.
No Offer or Solicitation
This announcement is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities or the solicitation of any vote in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.