Cast iron auction sales with IronPlanet
Tom Cornell and Gregory Owens of IronPlanet
Online auction firm IronPlanet (IP) is a business with a truly global marketplace. It generated more than €450 million in 2011 via its worldwide used construction equipment sales.
“Being pro-active is the key to what we do,” said managing director Tom Cornell.
“Our software tells us who is looking [prior to online auctions] and who has bought similar equipment before and our online sales team rings them up and advises them about which online auctions may have equipment they are looking for.
“This means a night before an online auction, customers are already committed to purchasing 50-60% of the available items. This is different from traditional auctioneers who often hope for a sunny day to attract people.”
Cornell said that IP’s impartial inspection reports are considered to set the industry standard by both buyers and sellers.
IP holds an online auction every week in the United States and every fortnight in Europe.
“We bring about 6,000 people from more than 130 countries to each European online auction, and 17,000 people to each online auction in the United States,” said Cornell. “Our database of 810,000 buyers is growing by the day.”