IronPlanet® (www.ironplanet.com), the world's leading online auction company for used construction and agricultural equipment, posted record sales in the second quarter of 2009, with gross auction sales of $120 million — an increase of 31% over the second quarter of 2008. This year's second quarter represents a 31% growth over the first quarter of 2009. The company's year-to-date performance of $211 million is a 25% increase over the same period in 2008.
"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," said Gregory J. Owens, IronPlanet chairman and chief executive officer. "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.
"It is becoming evident that IronPlanet's online marketplace for the buying and selling of used equipment is achieving global adoption, ultimately allowing us to gain market share versus traditional auctions. It is this growth and resulting profitability that allows us to make ongoing investments to drive business value for our customers."
In the second quarter, IronPlanet conducted 20 auctions across North America, Europe and Australia. IronPlanet sold more than 8,300 lots in the second quarter — up 85% over the same period in 2008. In addition, 53% of the items sold in IronPlanet North American auctions had bid participation from buyers outside of the United States through its broad global buyer reach.
"We are continuing to make significant investments in marketing initiatives to broaden our outreach to bring more international buyers to our auctions," said Owens. "In today's market this is increasingly critical as sellers are looking to gain access to global buyers in order to achieve the best price performance possible. Our ability to bring more than 15,000 visitors to our online marketplace is unparalleled in the auction industry and delivers the price performance demanded by our sellers."