20.11.2009

Record result for Iron Planet

Online equipment auction company Iron Planet has reported record sales for the third quarter of $123 million, 61 percent up on last year.

The nine month year-to-date revenues are $334 million, an increase of 36 percent on the same period in 2008.

The company held 22 auctions, during the third quarter 38 percent more than last year, and 25 percent of the items were sold to buyers outside of the United States.

Chief executive Gregory J. Owens, said: “I continue to be pleased with our quarterly and year-to-date performance as we continue to deliver on our business objectives in 2009. Our ongoing commitment to our customers to bring fair market value for their equipment, at a low cost will continue to be the catalyst for our growth.”

“As we approach 2010 we will continue to build on our strategies to broaden our reach and grow both our seller and buyer base around the world. The advantages of our online marketplace versus more traditional auction channels are our global reach and our ability to bring an international buyer audience to all of our auctions whether in North America, Europe, Australia or Southeast Asia”.