bidadoo Completes Record Sales Quarter, Doubles Volume to Finish Largest Year

Wed January 11, 2023 - National Edition #2
bidadoo

bidadoo ended a record 2022 with double the volume and 90 percent sales growth in Q4 year over year. During the 4th quarter, bidadoo rocketed to a 101 percent increase in items sold, year over year.

With changing macro-economic trends, bidadoo drove significant customer growth adding more companies selling capital assets. As customers choose to remarket used equipment and trucks, bidadoo's online, multi-channel marketplace enables customers to maximize their net returns.

bidadoo's Record-Breaking 4th Quarter 2022 By the Numbers vs. 2021:

101 percent increase in number of assets sold
90 percent increase in sales growth
64 percent increase in the number of seller locations — saving costly transport of equipment to a physical auction facility
Record 78 percent of sales were made by out-of-state buyers
More than 120 percent growth in Strategic Account sales
49 percent increase in total buyers
52 percent increase in bidadoo.com traffic
63 percent mobile auction participation (phone and tablet)
20 times more views per item than many other auction platforms
Top placement to 135 million eBay active buyers
132 countries represented on typical Tuesday "Auction Day"

December represented the largest sales month for bidadoo, with the largest weekly online auction event ever. bidadoo, in partnership with eBay, experienced record buyer demand for equipment and trucks throughout the quarter and supported a record number of sellers on the marketplace. bidadoo and eBay's strategic partnership is driving significant increase in new inventory, as highlighted by a 120 percent increase in strategic account sales during Q4, as the industry continues to recognize the efficiencies and reach of bidadoo's online model.

Double the inventory in Q4 helped ignite huge buyer growth and demand. With the bidadoo online auction model, buyers don't have to invest their time, energy and money to travel to a traditional or live auction site to try and source equipment. bidadoo buyers have the convenience of weekly no-reserve auctions every Tuesday, rather than traditional quarterly auctions — typical for land-based auction sites.

With eBay's huge Business and Industrial, eBay Motors, and Parts and Accessories business and buyer base, bidadoo offers buyers a convenient way to source both equipment, trucks, and parts and accessories to run their business. Plus, with bidadoo there are no buyer's premiums; buyers and sellers both benefit.

For equipment sellers, in addition to bidadoo's active customers, bidadoo is featured to eBay's 135 million global, predominantly end-user, active registered buyers. Seller's benefit from this huge buyer base — with no transport fees and no buyer premiums — which maximizes financial returns of assets for bidadoo's sellers. With the trust of bidadoo, there has been a significant growth in the size and value of equipment sold via online auction. Additionally, the bidadoo Marketplace offers buyers and sellers multiple, convenient ways to buy and sell equipment, including immediate Buy-It-Now, or Make-Offer sales.

"bidadoo is a great resource for us because we are in the equipment industry renting and using equipment, but are not specialized and cannot justify having an employee doing the kind of quality work performed by bidadoo," said Kyle Gladieux, manager of corporate finance and accounting, Schaedler Enterprises Inc.

"When we need to buy or sell a piece we simply make a phone call to our representative and from there we are hands-off. We have used bidadoo to sell telehandlers and cranes as well as purchase cranes on multiple occasions. The process is consistent and simple and has exceeded our expectations at every level. We look forward to our continued partnership for years to come."

"We are honored by the incredible confidence our customers continue to put in bidadoo," said Howard Hawk, bidadoo president. "It is clear the market continues to value a true, trusted, transparent, global online-only marketplace for trucks and equipment, rather than old live models. We have seen an incredibly positive response from our customers to our eBay partnership over the past year. We are also very proud of our team for being able to scale the business at this pace."

Sample of equipment sold by bidadoo during the 4th Quarter