Online auctioneer IronPlanet has had its best-ever first quarter, with sales for the company, termed gross merchandise volume (GMV), hitting US$162 million.
IronPlanet said this was an increase of 25% over the Q1 2010 and that it experienced 25% growth over the last quarter of 2010.
The auctioneer revealed that it conducted a record 21 global auctions in the period, selling 8,000 lots. It also said that international buyers bid on more than 50% of the items sold in the company’s North America auctions during the first quarter, resulting in 28% of equipment being sold to buyers outside of the USA.
CEO Gregory Owens hailed the auctioneer’s ability to conduct weekly auctions versus the less frequent model of its real estate-based competitors.
“I am very encouraged with our first quarter performance and the used equipment environment as we enter 2011,” he said. “We have seen increasing optimism with our customers as equipment prices have improved across many categories as a result of increased global market demand.”
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