IronPlanet Auction Sales Up 70 Percent
July 31, 2008 • Pleasanton, Calif.-based IronPlanet posted record sales in the second quarter of 2008, with gross auction sales of $91.3 million, an increase of 37 percent over the second quarter of 2007. This year's second quarter represents a 17-percent growth over the first quarter of 2008. The company's year-to-date performance of $168.9 million is a 70-percent increase over the same period in 2007.
“I am very pleased with our second quarter and year-over-year sales growth, as well as the global momentum IronPlanet auctions continue to generate,” said Gregory Owens, IronPlanet's chairman and CEO. “With IronPlanet featured auctions approaching a weekly frequency, we offer sellers the fastest time to market and a global marketplace of buyers, which translates to above-market price performance. Combined with the go-to-market cost efficiencies we provide, IronPlanet auctions continue to generate the best overall value for our customers in both the construction and agricultural markets.”
Owens said the quarter-over-quarter sales growth is a result of ongoing company investments, including the growth of the sales organization, entry into new business segments and international expansion.
In the second quarter, IronPlanet drew an average of 14,000 visitors per auction, an increase of 35 percent over the second quarter of 2007. In addition, 31 percent of all equipment sold in IronPlanet auctions during the second quarter was purchased by international buyers, compared to 20 percent in the second quarter of 2007.
“Equipment demand from developing countries continues to accelerate seller participation in IronPlanet auctions, offering sellers a greater price performance for their used equipment than they could get at a traditional auction,” said
