Irontrax announced the addition of industry veteran, Vince Lorenz to the firm.
Lorenz was raised working in the construction equipment business. One of five brothers, his family owned and operated a construction equipment dealership for over 70 years in Columbus, Ohio. He grew up working side-by-side with mechanics, truck drivers, parts representatives and business owners looking to service, rent or purchase heavy equipment... all the time learning the equipment from the inside out.
After obtaining a business degree from the University of Dayton, Lorenz started his professional career already head of most in the industry. His hands-on experience landed him jobs with two different Caterpillar dealers, where his work included evaluating, pricing, selling and leasing heavy equipment.
With a solid foundation appraising everything from a single trade-in to whole fleets of equipment, Lorenz went to work for the world's largest industrial auctioneer, Ritchie Bros. Auctioneers. During his time at Ritchie Bros., Vince expanded his wealth of knowledge to hundreds of different makes and models of trucks and equipment. He achieved sales of more than $125 million and was the recipient of performance awards recognizing his knowledge and drive. Importantly, he also gained substantial valuation experience. Understanding equipment values was a key aspect of his job and he became an expert at factoring in age, usage, condition, repairs needed and other underlying factors before calculating value based on supply and demand. A perfect mix of innate understanding, research, contacts in the industry, and knowledge of current market conditions allowed Vince to accurately and effectively assist customers with their equipment disposition needs.
Throughout his career, Lorenz's experience has taken him to hundreds of construction sites, contractor shops, oil & gas pipeline jobs, and quarries. He understands current market conditions and best appraisal practices for heavy equipment and maintains relationships with industry contacts throughout the Unites States.
His work with Irontrax includes field appraisals that range from individual items to entire fleets, working with equipment owners, banks and equipment leasing companies. Specialty areas for Lorenz include transportation, mining, construction and the oil and gas pipeline industry.
When not on the road or working on an appraisal report, Vince and his wife organize 5K running races throughout the Mid-Atlantic region. They enjoy fishing, water sports, hiking and skiing.