Online heavy equipment auctions offer numerous benefits for both sellers and buyers, making them a preferred option for many people around the world. However, it’s important that users understand how to have a successful transaction using an online marketplace. Learn a few tips before your next sale or purchase in our article in Rock to Road.

Online auctions help sellers reach a global buyer base. In developing nations, buyers are especially interested in equipment from North America. Learn how to capitalize on this group of buyers in our Equipment Journal article, “South of the Border: Equipment Demand in Developing Nations.”

IronPlanet®, the leading online marketplace for buying and selling used heavy equipment and trucks, today announced that it was awarded the U.S. Defense Logistics Agency (DLA) contract to manage and sell rolling stock surplus assets of the U.S. Department of Defense (DoD) (Surplus Contract). The DLA issued the final contract award to IronPlanet on July 25, 2014 pursuant to a competitive bid process that was held on April 1, 2014.

Bids for the Surplus Contract were based on a percentage of the sales price of the items that bidders will share with the DLA. IronPlanet estimates $50-70 million of rolling stock annually, and its bid was equal to 75.29 percent revenue share to the DLA. The Surplus Contract has a base term of two years with four one-year renewal options. Following the bid process, Liquidity Services, Inc. (NASDAQ:LQDT) filed a bid protest with the Government Accountability Office (GAO). This protest and supplemental protests filed were denied by the GAO on July 23, 2014.