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IronPlanet Announces First Australian Online Auction

IronPlanet, an international online auction company for used construction and agricultural equipment, last week announced the company’s first auction in Australia will take place on Feb. 14. IronPlanet’s initial Australian online auction will feature more than 170 items with either low or no reserves.

“We are excited to bring IronPlanet’s very successful online auction of used heavy equipment to the Australian market,” said Graeme McPherson IronPlanet Australia managing director. “I am confident that we will deliver on what is most important to our Australian customers — quick disposition of their equipment, market-leading prices, low selling costs, and IronPlanet’s guaranteed inspection reports.

“Because the auctions are held online, buyers can participate across broad geographical boundaries. Buyers will be able to bid on equipment across Australia, New Zealand, and Southeast Asia in the comfort of their offices.”

A detailed list of the equipment to be auctioned is available at www.ironplanet.com.au. A preliminary sample of the equipment includes: five track excavators, six mini-excavators, nine wheel loaders, three motor scrapers, four skid-steer loaders, 10 aerial work platforms, 14 compactors, four forklifts, three graders, 11 light towers and 21 pieces of traffic-control equipment. Equipment comes from dealers, contractors and hire and rental companies across Australia.

In other company news, IronPlanet reported its largest auction ever, recording $19 million in gross auction sales in its Jan. 31 auction. The auction total was a 38-percent increase over the company’s previous record.

“I am very excited about IronPlanet’s start to 2008 and the strong performance of our January 31 auction,” said Gregory Owens, chairman and CEO of IronPlanet. “Our customers were also very pleased by the price performance of the auction and were able to enjoy the fast cycle time to cash we provide through our frequent auctions.”

IronPlanet’s broad global reach continued to play a significant role in driving auction performance, with a record 14,723 people visiting from auction preview through auction day. With a substantial equipment offering that drew a record number of potential bidders, the Jan. 31 auction generated more than 12,000 bids.

“IronPlanet is clearly gaining significant traction in the market,” said Tommy Cross, president of Cross Pipeline. “The number of global buyers that IronPlanet attracted to the auction resulted in Cross Pipeline exceeding our price targets. The power of IronPlanet's online auctions was clearly demonstrated, with an average of 37 bids per item on our equipment and 25 percent of our equipment being shipped to international buyers.”

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