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IronPlanet Auction Sales Up 37 Percent in Second Quarter

Sat July 28, 2007 - National Edition
Construction Equipment Guide

Online auction participants bought and sold $105.9 million of equipment through IronPlanet in the first half of 2007, a growth of 37 percent over the same period last year. Bidders bought more than $64 million in equipment in the second quarter, with the largest auction garnering $13.76 million.

“IronPlanet continues to grow by leaps and bounds,” said Robert Alleger, CEO of IronPlanet. “By cultivating an international base of interested buyers and providing secure transactions, sellers realize better equipment prices and buyers are able to purchase with confidence.”

IronPlanet averaged more than 9,000 viewers in 17 auctions and more than 22 bids per item. An average of 81 percent of equipment listed received PriorityBids, a service that allows IronPlanet users to bid on an item prior to the auction. IronPlanet auctions have combined to sell more than 4,700 pieces of equipment in 2007, including a portable central mix concrete plant that sold for $445,000.

With more than 20,000 registered users added since the first of the year, first-time buyers accounted for approximately 25 percent of all buyers. First and second quarter auctions also averaged an international audience of 19 countries.

March marked the seventh anniversary of the IronPlanet Web site launch.

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