Cat Auction Services (CAS) recently announced that it has expanded its ownership structure to include Caterpillar Inc., as an investor in the company. Caterpillar will join 25 other Cat dealer partners to share ownership of Cat Auction Services.
Cat Auction Services was created in 2008 through a unique partnership of five Cat dealers with the objective of developing an auction channel that can work with the Caterpillar distribution network.
By leveraging customer relationships built by dealers and Caterpillar, CAS is able to provide a unique auction experience that offers Cat dealers and customers a broad range of services, superior equipment expertise and a level of transparency unmatched by any other auction company.
“Caterpillar is looking forward to being a part of Cat Auction Services because it gives our North American customers another reliable, trusted choice when it comes to meeting their equipment disposal and acquisition needs. This will be a great supplement to our current dealer offerings,” said Jim W. Johnson, president of Caterpillar Used Equipment Services, Inc.
“We feel that Cat Auction Services is uniquely positioned in the auction business by offering innovative live and online auctions backed by a full range of support services provided by the best dealer network in the world. I think that once people try CAS they will have a new favorite auction company,” Johnson added.
Cat Auction Services facilitates auctions through live events, online bidding, and its own monthly, timed-out, online platform called eQuipment Yard.