IronPlanet Auction Draws 84 Bidders on Farm Tractor

PLEASANTON, Calif., March 29 /PRNewswire/ -- IronPlanet (http://www.ironplanet.com/), the third-largest construction equipment auction company in North America, sold $4 million of equipment and trucks in its March 24 sale. Eighty-four bidders fought over a 2003 Kubota M6800 tractor that sold for $29,500.

The farm tractor was located in Virginia and sold to the highest bidder located in Quebec. Bidders came from 30 U.S. states and one Canadian province.

"For a farm tractor to attract that many bidders across the U.S. and Canada," said Mike Rich, vice-president of sales at IronPlanet, "truly demonstrates the power of online auctions."

The March 24 sale drew over 7,300 registered auction attendees with bidders from the US and 15 other countries. On average, an item sold to a buyer more than 800 miles from its selling location, with 82% of the equipment going to an out-of-state buyer.

Founded in 1999, IronPlanet has grown to be the third-largest auctioneer of heavy equipment. Financially backed by Caterpillar, Komatsu and Volvo, IronPlanet sells a broad range of used equipment including construction, agricultural and trucks through online auctions. IronPlanet is the only auction company to provide detailed, guaranteed inspection reports for used equipment in its auction. If you are interested in buying or selling used equipment, go to http://www.ironplanet.com/.