The Internet has revolutionized the way people buy and sell.
Remember when you had to call a taxi? Remember when you had to go the store? Remember when you had to go to the travel agent? Remember when you had to go to the library? Remember when you had to go to the bank?
Remember when you had to go to an auction? The internet has changed everything.
The internet has revolutionized the way we buy and sell. Many purchases that used to demand in-person attendance have evolved — and improved — into virtual services. Wasted time and travel equals wasted expense and also comes with opportunity costs. The internet has brought immediacy, efficiency and greater selection into many traditional markets.
In the traditional live-auction model, there are significant costs made by both sellers and buyers just to participate in the auction. Sellers have to pay to ship their items to an auction site in time to “make the catalog.” Since bidders must be on-site to effectively inspect equipment, they have to travel…sacrificing time, energy and the cost to get there in the hopes of sourcing equipment. Not to mention, this comes at a huge opportunity cost as they are pulled away from their critical business activities.
In reaction to these inconveniences, savvy equipment buyers and sellers have turned to the power of the internet and the efficiency gains of online auctions. With 168 million active buyers, eBay is the world's largest online auction marketplace. Utilizing eBay's effective auction platform, global reach and trust, bidadoo provides professional remarketing for used construction equipment, rental fleets, trucks and other capital assets.
Simply put, bidadoo brings the auction to you — for both sellers and buyers. This is done through the power of the internet, by bringing online bidders to equipment that can be left at owners' sites. With detailed condition reports, video demonstrations and quality photos, bidders can effectively “kick the tires” with bidadoo — without having to travel and see a machine in person.
“bidadoo and eBay continue to change the way heavy equipment has been traditionally bought, sold and auctioned. In the past few years, the internet has forever improved many business models with massive efficiency gains.” said Howard Hawk, bidadoo president. “Like many traditional retail brick-and-mortar models, we see the continued migration of both buyers and sellers to the more efficient online model. In 2017 bidadoo experienced record equipment sales on eBay through increased acceptance and participation of trusted, transparent online auctions.”
Over the past 15 years, bidadoo has emerged as a preferred auction solution for heavy equipment buyers and sellers. Benefits for both buyers and sellers include:
- Weekly Auctions — bidadoo conducts global online auctions every week in contrast to infrequent traditional onsite auctions;
- sellers can sell equipment on their schedule versus having to wait (often months) for a traditional live auction to come to their region;
- more views on every item — bidadoo typically attracts 50,000 to 70,000 unique auction bidders every week;
- no upfront transportation costs — with bidadoo's online model, you can save the expense of shipping equipment to a traditional live auction site;
- international footprint — bidadoo brings the auction to you — sourcing equipment across North America, and selling world-wide;
- access to cash — bidadoo can provide quicker time to cash for sellers;
- trusted transactions — all equipment transactions are covered by eBay's business equipment purchase protection; and
- bidadoo 100 percent guarantee — let bidadoo kick the tires for you. If the machine isn't as described, bidadoo offers a full refund of your equipment purchase.
bidadoo looks toward an exciting 2018 with several key growth initiatives, which include:
- Increasing North America footprint as it expands its coverage into Canada;
- launching the bidadoo Marketplace — a buy now remarketing alternative to no-reserve auctions;
- continue to hire industry experts to significantly expand its service levels for contractors, dealers and national accounts; and
- continue to make bidadoo the most trusted online equipment buying experience anywhere.
“We're excited to continue building a strong partnership with bidadoo into the new year,” said Pooja Piyaratna, general manager of business and industrial at eBay. “Together, we're changing the way people buy and sell heavy equipment by making inventory readily accessible across devices and borders.”
For more information, visit bidadoo.com.