Announcement

IronPlanet exceeds half a million users worldwide

PLEASANTON, Calif. — September 22, 2009 — IronPlanet® (www.ironplanet.com), the world’s leading online auction company for used construction and agricultural equipment, has reached a milestone in the company’s history surpassing more than half a million users who have registered to view equipment for sale and participate in online auctions at IronPlanet.com. Weekly IronPlanet auctions are now averaging more than 15,000 attendees, making IronPlanet the most popular auction site in the industry.

IronPlanet offers buyers and sellers a secure, hassle free way to move used and new equipment.  It’s this detailed level of service that has IronPlanet’s potential buyers and sellers growing rapidly at a pace of more than 10,000 new users each month as the global awareness of IronPlanet continues to increase. 

“At IronPlanet, we strive to provide our users with all the information they need to make informed decisions on equipment sales and purchases,” said Jeff Jeter, IronPlanet executive vice president.  “IronPlanet users love the convenience of our online marketplace, the frequency of our auctions as well as our detailed inspection reports. Our exclusive IronClad Assurance and guaranteed inspection reports enable buyers to bid with a high degree of confidence, resulting in better auction prices for our sellers.”

IronPlanet online auctions offer a wide range of used and new equipment for the construction, agriculture and transportation industries. Users can search thousands of items around the world and view the comprehensive inspection.  IronPlanet’s indepth inspection reports include equipment details and more than 50 photos of the machine, from general appearance through oil sample analysis. IronPlanet guarantees the report is an accurate representation of the equipment’s condition.

IronPlanet customers have sold more than $1 billion of used equipment through IronPlanet online auctions. Sellers who consign equipment to IronPlanet can turn their equipment into cash in four to five weeks, from consignment to payment. IronPlanet makes it easy for sellers to auction off equipment via the internet thus eliminating transportation costs.  And by doing so, IronPlanet auctions reach buyers around the world through its global marketing efforts. Equipment sold through IronPlanet auctions achieves better price realization with each item averaging more than 15 bids through its broad worldwide audience participation.

“We have created a better business model to reach more people globally in the used equipment market,” said Jeter. “Our growth in registered users is a testament to the strength of IronPlanet’s marketplace and the value we deliver to buyers and sellers around the world.”

About IronPlanet
IronPlanet is the world’s leading online auction company for used construction and agricultural equipment. Our sellers achieve more profitable sales through low transaction costs and better price realizations through a global audience of buyers. Our guaranteed inspection reports and exclusive IronClad Assurance enable buyers to bid with a high degree of confidence. IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com.