bidadoo reported record sales for its first quarter (Q1), as it continues to see a rapid shift from traditional models to online auctions and remarketing. bidadoo, a strategic partner with eBay, experienced record buyer demand throughout the first quarter and represented the highest number of sellers on the marketplace. Strong buyer demand drove dramatically higher selling prices by an average of over 35 percent across many equipment and truck categories.
bidadoo had a record first quarter as buyers and sellers further leveraged the benefits of bidadoo’s 100 percent online model and partnership with eBay. bidadoo served a record number of sellers across North America as they have expanded their salesforce and operations capabilities.
bidadoo drove significant expansion with many strategic accounts as the industry is recognizing the efficiencies, cost savings, and greater asset returns of the online model. The first quarter of 2022 saw marked growth in several strategic partners, including international rental companies like Sunstate Equipment, Sunbelt Rentals, Herc Rentals and United Rentals, along with some of the biggest contractors and equipment owners.
During the first quarter of 2022, items sold through bidadoo’s weekly no-reserve online auction traveled an average of nearly 1,000 miles from the selling site to their final destination. As many sellers want to leverage a global market and prefer not to sell equipment and trucks back into their local markets, bidadoo served them well by shipping over 70 percent of items sold to out-of-state/province buyers.
In addition to bidadoo’s weekly, no-reserve online auction, customers have also utilized bidadoo’s Buy-Now Marketplace to sell and source quality equipment. The first quarter saw an 18 percent increase in items sold and a 15 percent increase in amount sold, year-over-year.
bidadoo’s rcord-breaking (Q1) 2022 vs. 2021 featured:
- Record first quarter sales
- 24 percent increase in seller Locations
- 15 percent increase in sales from Buy-It-Now / On-Demand Marketplace
- Used equipment prices have remained at all time high
- Global participation from 166 countries
- 64 percent mobile participation
“Our record sales and growth highlight the passion and capabilities of our expanding team and platform. We continue to attract some of the biggest and most trusted names in the equipment and truck business, and migrate them from traditional sales models to bidadoo's 100 percent online model,” said Howard Hawk, bidadoo President. “Sellers are trusting bidadoo and eBay to deliver additional value as they switch to bidadoo’s more efficient remarketing model. We are honored to see the excitement within the industry as sellers experience first-hand the power of the bidadoo and eBay partnership.”
“bidadoo continues to sign up a record number of sellers this year while driving incredibly strong pricing and global buyer demand,” said Hawk. “This is a great time for sellers to take advantage of unprecedented demand in the marketplace with increased asset returns. We see buyers continue to convert to our trusted online marketplaces in record numbers, due to the pandemic impact, a better buyer experience, trusted eBay platform, and the convenience of the 100 percent online model. We are very proud of the continued focus on customer success from the passionate bidadoo team. With every machine, we strive to provide the best buyer and seller experience in the industry. Our team and eBay are committed to making that happen.”