02.08.2009

Record result for Iron Planet

Iron Planet, the online equipment auction house, has reported its biggest quarter ever, with sales of $120 million - 31 percent higher than in the same quarter 2008. The company conducted 20 auctions across North America, Europe and Australia, selling 8,300 lots - 85 percent more than last year.

Sales in the first six months were $211 million a 25 percent increase over last year.

Gregory J. Owens, IronPlanet’s chief executive said: “Our continued record-breaking performance is a reflection of our strong execution in the market and the compelling value we continue to bring to our customers. As companies continue to navigate these unprecedented times, we are seeing more used equipment sellers choose IronPlanet as their best choice to reach a global buyer base as well as leverage our weekly auction frequency as a better way to manage their inventory.”

“We are continuing to make significant investments in marketing initiatives to broaden our outreach to bring more international buyers to our auctions”