?With other auction services, we have to pay to haul the equipment to the site, then pay again to have it prepped for auction,? says Waldrop. ?We?ve been able to significantly reduce costs by deciding for ourselves how much make-ready work our machines need, then selling them straight off our yard.?
A global marketplace
With a weakened U.S. dollar and a suffering local equipment market, IronPlanet gives Terra access to interested buyers worldwide, creating a more competitive bidding environment and minimizing the effects of the domestic economy.
?We?ve been able to reach a far greater audience of equipment buyers than we did before,? says Waldrop. ?We typically see at least 9,000 visitors at an auction when we sell equipment, which is huge.?
International buyers are often willing to pay a premium price for the used equipment. This is due in part to the detailed information provided. Prior to auction, Terra?s equipment is inspected at its location by a trained inspector, then listed online with a guaranteed inspection report.
Guaranteeing the reports protects both the buyer and the seller by ensuring equipment is represented fairly. It also gives remote buyers more confidence in equipment condition, and ultimately increases its resale value. As a result, Terra has been able to achieve market value price performance or better for its equipment.
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