Bank of London and The Middle East (BLME), an independent British, wholesale Sharia’a compliant bank, selected IronPlanet as its sole used equipment remarketing partner in 2008. The partnership with IronPlanet was a strategic decision that has generated successful results.
Selecting the Best Way to Remarket Machinery
When selecting the best way to remarket its used machinery and equipment, there were a number of factors that BLME had to consider carefully. First and foremost, the bank needed to ensure that it always got back what it put into a machine. “Residual value, the outstanding amount of money that is still invested in the asset, is our primary concern when remarketing used equipment. Of course, we need to guarantee that when a machine is remarketed we cover this, and make a profit too,” said Mark Jarvis, Senior Leasing Manager at BLME.

IronPlanet team members Jeff Jeter, Carson Erickson, Bill Fisher, Scott Walter, and Lisa Burgess recently attended the AED Summit & Condex in Las Vegas from January 15 – 17, 2013. As a sponsor of the event, IronPlanet hosted an informational booth featuring a demonstration of the online auction and provided high quality tote bags for conference attendees.The expo was held at the Las Vegas Hotel & Casino and attracted a national and Canadian audience interested in products and services essential to dealer profitability, business information, and industry seminars to help stay on top of 2013 trends.