IronPlanet Reports Record Growth in 2008

Published in the May 2009 Issue Published online: May 03, 2009

PLEASANTON, Calif.-IronPlanet (www.ironplanet.com), the world's leading online auction company for used construction and agricultural equipment, continued to gain significant marketplace momentum in 2008, with gross auction sales of $337 million, an increase of 43 percent over 2007. Fourth-quarter gross auction sales totaled $96 million, up 26 percent over the third quarter and up 9 percent over the same period last year.

"I'm extremely pleased with our performance and year-over-year sales growth, especially given the unprecedented global market volatility," said Gregory J. Owens, Chairman and CEO of IronPlanet. "Our 2008 results are a testament to the power of our online auction model and the strength of our value proposition to both sellers and buyers of used equipment. Our ability to provide go-to-market cost efficiencies and market price performance through a global audience of buyers continues to generate the best results for our customers."

In 2008, IronPlanet averaged more than 15,000 potential bidders per auction. The company's continued global marketing emphasis, which resulted in 27 percent of equipment sold to buyers outside of the United States in 2008.

Registrations to IronPlanet's online auction marketplace continued its record pace with an increase of more than 8,200 new global registrations a month, up 85 percent over 2007. IronPlanet also conducted a record 59 auctions in 2008 versus 31 auctions in 2007.

"As we continue to expand our global footprint we are able to bring significantly more buyers to our auction marketplace than traditional auctions," said Jeff Jeter, senior vice president, International and New Business. "With today's economic slowdown, it is this broad reach that helps our sellers access the buying audience they need to support prices and give them a global fair market value for their equipment."

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