IronPlanet, one of the largest auctioneers of heavy equipment in North America, sold $3.9 million of equipment and trucks in its February 24 auction. A 2001 Manitou MVT628T telescopic forklift located in Florida sold to a buyer in New Zealand. Eighteen bidders from 16 U.S. states and two countries fought over the forklift that sold for $35,500.

"Online auctions give each seller the opportunity to extend their backyard," says Mike Rich, vice-president of sales for IronPlanet, "just as guaranteed inspection reports enable buyers to bid without physically kicking the tires."

The February 24 sale drew over 8,400 registered auction attendees with bidders from the U.S. and 11 other countries. On average, an item sold to a buyer more than 800 miles from its selling location, with 83% of the equipment going to an out-of-state buyer. Founded in 1999, IronPlanet is financially backed by Caterpillar, Komatsu and Volvo, IronPlanet sells a broad range of used equipment including construction, agricultural and trucks through online auctions. IronPlanet says it is the only auction company to provide detailed, guaranteed inspection reports for used equipment in its auction.

http://www.ironplanet.com