IronPlanet® (www.ironplanet.com), the world’s leading online marketplace for used construction and agricultural equipment, continued to gain significant marketplace momentum in 2009, with gross equipment sales of $458 million, an increase of 34 percent over 2008. Fourth-quarter gross equipment sales totaled $124 million, up 29 percent over the same period last year.
“I am very pleased with our performance in 2009 and the significant progress we continue to make in building the world’s largest online marketplace for used equipment,” said Gregory J. Owens, Chairman and CEO of IronPlanet. “We continue to focus and respond to what is most important to our sellers and buyers: we increased the frequency of our auctions to a weekly level in North America; we launched our marketplace in Europe and expanded in Australia / Southeast Asia conducting monthly auctions in both regions; and we continued to grow our worldwide base of buyers to deliver fair market value for the equipment we sell.”
In 2009, IronPlanet conducted a record 79 auctions across North America, Europe and Australia; an increase of approximately 40% over 2008. Through IronPlanet’s marketplace, approximately 30,000 items were sold — up approximately 65 percent over 2008. In order to better serve global equipment consigners, IronPlanet continued to expand its global sales force, reaching 111 sales personnel at year end, an increase of 37 percent over 2008, including new appointments in the Americas, Australia / Southeast Asia, and Europe.
IronPlanet reached a historic milestone in 2009, surpassing more than half a million users registered to IronPlanet’s marketplace, and averaging approximately 9,000 new user registrations a month during the year. With this expanding global used equipment buyer base, auctions in the U.S. generated significant international participation with approximate 55 percent of items sold receiving international bids and 25 percent of the items sold to buyers outside of the United States.
“As we look forward in 2010, I am very encouraged by the marketplace we have built and confident in our continued momentum as the value we deliver to our customers is increasingly compelling. We believe that our ability to bring market leading prices, our weekly global auction schedule, and a lower cost to sell than traditional channels is unmatched in the market. This value and the broadening of our global marketplace footprint is why we are seeing the level of growth we have demonstrated over the past several years,” said Owens.
IronPlanet is the world’s leading online auction company for used construction and agricultural equipment. Our sellers achieve more profitable sales through low transaction costs and better price realizations through a global audience of buyers. Our guaranteed inspection reports and exclusive IronClad Assurance enable buyers to bid with a high degree of confidence. IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com.