IronPlanet Breaks Record for Highest Value Item Sold

PLEASANTON, Calif., March 11, 2013 /PRNewswire/ -- IronPlanet^® (www.ironplanet.com), a leading online marketplace for used heavy equipment, broke its record for the largest single unit ever sold. A buyer from North Carolina won a Marion 7820 Walking Dragline in IronPlanet's Daily Marketplace, for the highest bid of $3 million from a seller in Pennsylvania.

"This successful sale between two of the largest aggregate producers in the United States is a prime example of how our global marketplace connects buyers and sellers quickly and effectively," said Greg Owens, CEO of IronPlanet. "Our Daily Marketplace is a complement to our regular weekly auctions and allows us to reach out to our global network and find the right buyers to meet a seller's price target, which can be particularly useful when selling high-priced and unique items like the dragline."

Weighing over 2,000 tons and consisting of a bucket attachment large enough to accommodate parking for three full-size pickup trucks, the item is one of the largest pieces of equipment sold by IronPlanet.

IronPlanet's Daily Marketplace allows sellers to set a reserve price, a hidden minimum price that sellers are willing to accept for an item, and select a closing time at any point throughout the week. Sellers also have the option of displaying a "Win it Now" price, for buyers that may wish to complete the sale immediately.

To learn more about IronPlanet auctions, please visit www.ironplanet.com.

About IronPlanet 
IronPlanet is a leading online marketplace for used heavy equipment. Our sellers achieve more profitable sales through low transaction costs and better price realization through a global audience of buyers. Our guaranteed inspection reports and exclusive IronClad Assurance enable buyers to bid with a high degree of confidence. IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com.

SOURCE IronPlanet