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Online Auction Moves Contractor’s Idle Inventory
May 13, 2008
IronPlanet® (www.ironplanet.com), an online auction company for used construction and agricultural equipment, recently liquidated $2.74 million of equipment for Rushing & Mason, Inc. of
The March 27 auction drew a global audience of 14,000 visitors and generated an average of 21 bids per item. Nearly 20 percent of the equipment was sold to IronPlanet’s international buyer base.
“I did a lot of research and spoke to a lot of auction companies to understand who had the best auction model and who would ultimately deliver the best overall value to Rushing & Mason,” said David Sax, CFO and COO of Rushing & Mason, Inc. “IronPlanet gave us access to their global buyer base, enabling us to exceed our price expectations, and the total cost to sell our equipment was the lowest. The most important factor was that we were able to sell our equipment straight from our locations.”
Have you recently used online auctions to purchase or unload equipment?
Posted by Lisa Doyle on May 13, 2008 | Comments (0)
