January 6, 2012

Inaugural Cat online auction a success

EAGAN, MINN.

Cat Auction Services recently announced that its recent eQuipment Yard auction, its inaugural online timed auction, exceeded the company’s projected sales revenue by almost 10 per cent.

The auction also generated more than 32,000 catalog views and sold 98 per cent of the 133 lots available, landing 4,200 pre-bids in the days leading up to the event.

Lots were sold to bidders from more than 10 countries, with lots going to Canada, Mexico, the United Arab Emirates, Saudi Arabia and Venezuela, among others. Domestically, lots went to buyers in nearly 40 states, with significant numbers going to Texas, California, Colorado, Pennsylvania, Wisconsin and Minnesota.

“We’re extremely pleased with the results of our first eQuipment Yard auction. The sales total significantly exceeded our projections, and the impressive participant traffic on our website shows that bidders value our TA-1 inspection reports, the equipment videos and other in-depth information we have available,” said Cat Auction Services President Rick Albin.

“It’s further evidence that our buyer-be-informed approach is resonating with our customers.”

Cat Auction Services developed its eQuipment Yard timed auction platform to complement its live auction format and extend the company’s goal of providing consignors and buyers alike with the most powerful and complete suite of auction tools in the industry.

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

Cat Auctions is currently the only heavy equipment auction service provider to offer both traditional live auctions and this new timed format.

The company plans to offer an eQuipment Yard auction each month starting in February of 2012, according to Albin.

Cat Auction Services entered the heavy equipment auction arena in 2008. 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.

More information about eQuipment Yard and Cat Auction Services’ live auctions can be found at www.catauctions.com

DCN NEWS SERVICES

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