Hundreds of items including specialist mine and quarry equipment will be auctioned online on 7 December. The auction will be hosted by IronPlanet (www.IronPlanet.com), the world’s leading online auction company for used heavy equipment.
Featured equipment includes a 2002 Caterpillar D10R Track Dozer, a 1997 Caterpillar 992D Wheel Loader, two Komatsu-Dresser 330M Off Road Dump Trucks, along with a number of other items, including rock drills, conveyers, aggregate screens, motor scrapers and excavators.
A similar auction featuring mine and quarry equipment held in August this year drew a global audience of potential buyers, 86 of whom were located within Australia and New Zealand. The inventory included 357 items, which received on average 18 bids each at an average purchase price of US$22300.
The top seller in the August mine and quarry auction was a 1996 Caterpillar 785D off-road Dump Truck, which sold for US$340000, which was in excess of the seller’s expectations. The dump truck attracted over 68 bids, eventually going to a buyer in Kentucky USA. Two similar Caterpillar 785D Off-Road Dump Trucks sold for US$282000 and US$256000 respectively.
IronPlanet’s auctions attract bidders from all over the world, including Australasia. The huge boom in the mining industry in Australia has meant that there is an increased demand for suitable equipment across the country. The current strength of the Australian dollar allows local buyers to purchase equipment from other countries at reasonable prices, and provides access to a global database of stock.
The announcement earlier this year that IronPlanet would be establishing an Australian presence after several successful years in the US has prompted a great deal of interest from the local market place.
“There has always been a significant level of Australasian participation in the US-based auctions,” says Graeme McPherson, managing director of IronPlanet Australia. “Now, Australian equipment users will have a local online marketplace through which they can buy and sell used equipment on a national and international basis.”
Much of IronPlanet’s success has stemmed from its ability to overcome the concerns of buyers in relation to buying equipment online. Its unique IronClad Assurance policy features highly detailed inspection reports prepared by experts.
Each inspection report includes a detailed description of the equipment’s condition including inspector comments and ratings, photographs, wear-related measurements, and when appropriate, lab test results of oil/fluid samples. The IronClad Assurance means what buyers see on the inspection report is what they get when they receive the equipment.
IronPlanet™ handles all steps of the payment process for both buyers and sellers to secure the transactions. In addition, they help buyers coordinate financing, transportation, and other value-added services.
The online auction is scheduled for 6 December 2007 at 7am USA Pacific Standard Time (Australian Eastern Daylight Time: 2am on 7 December 2007).
