Inaugural Cat Auction Services’ eQuipment Yard Auction Results Exceed Expectations

Fri December 23, 2011 - National Edition

Cat Auction Services’ inaugural eQuipment Yard auction on Dec. 14 sold nearly $4 million in Caterpillar equipment to online bidders via Proxibid’s online bidding platform during eQuipment Yard’s first event.

This auction had more than 32,000 catalog views. Ninety-six percent of the items available for bidding in this auction were sold, bringing in more than 4,200 pre-bids throughout the event.

“We are very pleased with the results of our first eQuipment Yard auction,” said Rick Albin, president of Cat Auction Services. “The results of this auction exceeded our expectations, and Proxibid’s timed auction solution performance was virtually flawless throughout the event. We are already looking forward to our next eQuipment Yard auction.”

The success of this auction can be attributed to several factors, according to the companies. Proxibid’s product and technology teams implemented new products to improve the bidder experience for this auction, including Proxibid’s Dynamic Lot Sort Order. Additionally, the Cat Auction Services and Proxibid teams worked in tandem to ensure the auction catalog was complete well in advance of the auction ensuring bidders had access to all the information necessary to make an educated buying decision.

“This auction represents a significant milestone in Proxibid company history,” said President Ryan Downs. “Not only were the results excellent, but our team had the opportunity to implement new technologies that had an immediate and direct impact on sale results.”

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