IronPlanet is mining equipment sales gold
RITCHIE Bros. predicts the launch of IronPlanet in Australia will boost used heavy machinery sales in 2018.
IronPlanet, which boasts 1.8 million registered users, sold close to $US1 billion in heavy machinery internationally in 2016/17, and now hosts monthly Australian auctions.
Ritchie Bros. Asia-Pacific director operations Richard Tucker said Australia had been fast to adopt machinery cyber auctions as moving heavy equipment to market drove up costs.
“Mining in Australia is a remote business, with sites based thousands of kilometres from a capital cities or major centres,” Mr Tucker said.
“Moving a 100-tonne plus machine or a fleet of them, isn’t easy or cheap.
“IronPlanet clients can sell, buy and list an item or an entire consignment when and where they want, which can save thousands.
“It’s frustrating for a buyer to spend money shipping an item to auction, only to see it freighted back to a new owner just down the road.”
Mr Tucker said IronPlanet was owned and operated by Ritchie Bros. so quality control was paramount.
“Each piece of equipment listed online is inspected by an expert prior to sale,” Mr Tucker said.
“Its important buyers have a strong level of comfort when purchasing online.
“IronPlanet buyers browse a virtual world but our team of expert inspectors who visit each item are very real.
“A qualified expert inspects each listed item, provides an authorised report and the IronClad Assurance, guaranteeing the accuracy of the inspection report.
“Sight unseen, IronPlanet buyers get what they expect and with no expected surprises, sellers secure the best market price.”
Mr Tucker said it was IronPlanet’s ability and market respectability that had resulted in the online portal’s mammoth global success.
“One billion in international sales last year proves IronPlanet is trusted and effective,” he said.
“IronPlanet provides access to tens of thousands of buyers, sellers and equipment from around the world.
“You can bid, sell and inspect all from the comfort of a lounge chair.”
Ritchie Bros. is industry renowned for its highly-successful onsite un-reserved auctions but IronPlanet offered customers the choice of selling at a fixed price, negotiation offers or setting a reserve price.
Mr Tucker said the introduction of the online reserved platform afforded Ritchie Bros. customers more options.
“Last year 49 per cent of the equipment sold in our onsite auctions were sold to online buyers,” Mr Tucker said.
“IronPlanet widens the online audience by providing different solutions for customers.”
Mr Tucker said onsite auctions would remain highly popular with buyers and sellers even as the popularity of online auctions grew.
“Richie Bros. has three onsite auction sites in Perth, Geelong and Yatala, and they serve an important purpose,” he said.
“Online is an important cog in the wheel but you can’t underestimate how much buyers still like to kick a tyre and see products first-hand.
“We have buyers fly in from all over the world to see a piece of equipment.
“Thanks to IronPlanet, Ritchie Bros. can offer the perfect mix of options.”