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Cat Auction Services Announces eQuipment Yard Online Timed Auction

Mon November 07, 2011 - National Edition
Construction Equipment Guide

Cat Auction Services recently unveiled eQuipment Yard, its new online-only timed auction service.

This new service is designed to complement the company’s current live auction format and extend its goal of providing consignors and buyers alike with the most powerful and complete suite of auction tools in the industry.

Offering a timed countdown format, eQuipment Yard makes its debut on Dec. 14, 2011, at 9 a.m., central time, with bidding available beginning on Dec. 9.

Similar to its live auction counterpart, eQuipment Yard auctions are unreserved and feature a broad assortment of heavy equipment from a number of manufacturers.

The unveiling of eQuipment Yard marks another milestone for Cat Auction Services. The company has carved out a highly desirable niche in the auction marketplace by leveraging its access to exclusive Caterpillar products and services, as well as its unique buyer-be-informed philosophy. The company said it currently is the only auction services provider to offer both live auctions and an online-only, timed option.

“In eQuipment Yard, we’ve developed an online timed auction service that represents the next generation in heavy equipment auctions,” said Cat Auction Services President Rick Albin. “It changes the industry in the same way our live auctions have changed the industry.”

An eQuipment Yard auction both simplifies and improves upon the customer experience delivered by many other online services, according to Albin. For example, with eQuipment Yard, Cat Auction Services handles the auction transaction from beginning to end, providing sellers with ease, reliability and security, he added. Qualifying buyers, collecting funds, conducting inspections and coordinating equipment removal are all handled by Cat Auction Services professionals.

An eQuipment Yard auction also features many of the same advantages offered by its live auction counterpart. Buyers have access to exclusive Cat products and services, such as financing and insurance options. Equipment Protection Plans are available on qualified equipment, and all equipment offers TA-1 inspections, the most in-depth and detailed equipment inspections in the industry, according to the company.

For consignors, eQuipment Yard means the ability to move equipment more quickly and to add it to a global inventory viewed by a global audience.

“Our Cat-certified TA-1-level inspections do more than check the oil and kick the tires,” Albin said. “They analyze and rate every component of the machine, from the engine and hydraulics to the seat cushions and operator’s manual. In many cases, that’s up to 140 inspection points. It’s an inspection unlike anything else out there. For buyers, that means you know exactly what you’re bidding on. And for sellers, it means receiving fair value for your equipment.”

The Dec. 14 eQuipment Yard auction can be accessed via the Cat Auction Services Web site at Working with Proxibid — which will provide much of the back-end technology for the service —the Cat Auction Services team, according to the company, placed an emphasis on creating a smooth, intuitive user experience that inspires confidence and trust.

“We’re well aware of the fact that there are other timed auctions out there,” Albin said. “Our team needed to develop one that lives up to the high standards of Caterpillar and is capable of delivering great value to our buyers and sellers. In eQuipment Yard, we have an elite auction service that hits the mark.”

Cat Auction Services entered the heavy equipment auction arena in late 2008. By conducting auctions that provide value to both buyers and sellers, Cat Auction Services complements and enhances the relationship between Cat dealers and their customers. Cat Auction Services was formed through a unique partnership of Cat dealers with the endorsement of Caterpillar Inc. The proprietary auction arm enhances the portfolio of services available to Cat customers and others in the heavy equipment industry, while building upon the company’s existing customer loyalty.

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