IronPlanet sold $33.7 million in equipment at auctions held on May 13th – 14th, 2015. In addition to sales across its online marketplaces IronPlanet®, TruckPlanet, and GovPlanet, IronPlanet held two onsite auctions: a Cat Auction Services live unreserved public auction in Morgantown, West Virginia, and a Kruse Energy & Equipment Auctioneers two-day auction in Odessa, Texas.
More than 25,000 people attended the auctions online and onsite, buying more than 2,750 lots of equipment for $33.7 million in gross merchandise value (GMV). IronPlanet’s Kruse Energy & Equipment Auctioneers saw strong pricing across its oil and gas offerings, including 20-plus well service rigs, nine drilling rigs and a full fracking fleet package that brought a record price at auction.
“Morgantown was our fourth Cat Auction Services event this year and we couldn’t be more pleased with the buyer turnout and pricing for equipment sold,” said Gregory J. Owens, IronPlanet Chairman and CEO. “We are very pleased with our integration with Cat Auction Services and the value we are driving for all of our sellers and buyers in a live, onsite auction format, attracting large local participation at our auctions as well as combining effectively with our global buyer base online.
“In addition, Kruse Energy and Equipment Auctioneers continues to set the standard in bringing together sellers and buyers of oilfield drilling and services equipment. Kruse’s trusted expertise in this market combined with IronPlanet’s data-driven model continues to produce strong results for our sellers.”
The Cat Auction Services’ auction hosted by Cleveland Brothers Equipment Co. in Morgantown West Virginia generated significant interest from both consignors as well as buyers resulting in a broad line-up of late model, low hour equipment. Robust onsite and online end-user buyer participation drove strong price performance across key equipment categories including: Cat D6T crawler tractors, Peterbilt 367 and Mack GU713 dump trucks as well as Komatsu HM300 articulated dump trucks, and Cat 316 track excavators, among others.
“As a Cat Auction Services Dealer we are pleased that our first auction post-merger with IronPlanet was a resounding success," said Cleveland Brothers’ Bill Yurkovic, corporate used Equipment manager. "This is one more avenue to provide our customers with more complete services not received anywhere else in the industry. We continue to provide customers, as they manage their fleets, with many options throughout the process. The combination of Cat Auction Services' live sale in conjunction with IronPlanet's online platform is a win-win for everyone."