bidadoo reported record sales for its first quarter (Q1), as it continues to see a rapid shift from traditional models to online auctions and remarketing.
SEATTLE, April 21, 2022 /PRNewswire-PRWeb/ -- bidadoo reported record sales for its first quarter (Q1), as it continues to see a rapid shift from traditional models to online auctions and remarketing. bidadoo, a strategic partner with eBay, experienced record buyer demand throughout the first quarter and represented the highest number of sellers on the marketplace. Strong buyer demand drove dramatically higher selling prices by an average of over 35%+ across many equipment and truck categories.
bidadoo had a record first quarter as buyers and sellers further leveraged the benefits of bidadoo's 100% online model and partnership with eBay. bidadoo served a record number of sellers across North America as they have expanded their salesforce and operations capabilities.
bidadoo drove significant expansion with many strategic accounts as the industry is recognizing the efficiencies, cost savings, and greater asset returns of the online model. The first quarter of 2022 saw marked growth in several strategic partners, including international rental companies like Sunstate Equipment, Sunbelt Rentals, Herc Rentals, and United Rentals, along with some of the biggest contractors and equipment owners.
During the first quarter of 2022, items sold through bidadoo's weekly no-reserve online auction traveled an average of nearly 1,000 miles from the selling site to their final destination. As many sellers want to leverage a global market and prefer not to sell equipment and trucks back into their local markets, bidadoo served them well by shipping over 70% of items sold to out-of-state/province buyers.
For example:
- 87% of items sold from Pennsylvania left the state
- 84% of items sold from Ohio left the state
- 84% of items sold from Ontario left the province
- 80% of items sold from Florida left the state
- 61% of items sold from Texas left the state
- 61% of items sold from California left the state
With 19 years of dedicated online remarketing experience, bidadoo continues to attract an audience of true end-users and global buyers. bidadoo's trusted on-demand marketplace eliminates the need to travel to purchase or sell equipment - bringing the auction to you. For example, bidadoo conducted a fleet realignment project for a major specialty and contractor in Ohio - with nearly $2,000,000 of equipment sold, every item was sold to out-of-state or out-of-country buyers highlighting the power of the bidadoo and eBay platform.
In addition to bidadoo's weekly, no-reserve online auction, customers have also utilized bidadoo's Buy-Now Marketplace to sell and source quality equipment. The first quarter saw a 18% increase in items sold and a 15% increase in amount sold, year-over-year.
"We have partnered with bidadoo because of the advantages that their weekly no-reserve online platform and their Buy-Now Marketplace provide. Through their strategic partnership with eBay, the marketing attracts and supports true end-users that normally would not use auctions to source equipment." Explains Craig Sickmiller, CFO, MCM Management Corporation. "bidadoo provides a level of equipment reports, photos, videos, and service team access that provides the transparency needed for the buyers to be more fully informed about the equipment they are bidding on. With this level of information, a bidder can confidently assess the value of the online equipment and bid with confidence. One hundred percent of our equipment was sold either out-of-state or out of the country. When selling specialty equipment and services regionally it is important for us to find buyers that understand the value of the equipment. bidadoo's approach reaches and informs those buyers helping us achieve the highest value. For both buyers and sellers - bidadoo takes care of everything, making it easy to do business with them."
bidadoo's Record-Breaking First Quarter (Q1) 2022 vs. 2021 Featured:
- Record First Quarter Sales
- 24% Increase in Seller Locations
- 15% Increase In Sales From Buy-It-Now / On-Demand Marketplace
- Used Equipment Prices Have Remained At All Time High
- Global Participation From 166 Countries
- 64% Mobile Participation
"Our record sales and growth highlight the passion and capabilities of our expanding team and platform. We continue to attract some of the biggest and most trusted names in the equipment and truck business, and migrate them from traditional sales models to bidadoo's 100% online model" say Howard Hawk, bidadoo President. "Sellers are trusting bidadoo and eBay to deliver additional value as they switch to bidadoo's more efficient remarketing model. We are honored to see the excitement within the industry as sellers experience first-hand the power of the bidadoo and eBay partnership" says Hawk.
"bidadoo continues to sign up a record number of sellers this year while driving incredibly strong pricing and global buyer demand," said Hawk. "This is a great time for sellers to take advantage of unprecedented demand in the marketplace with increased asset returns. We see buyers continue to convert to our trusted online marketplaces in record numbers, due to the pandemic impact, a better buyer experience, trusted eBay platform, and the convenience of the 100% online model. We are very proud of the continued focus on customer success from the passionate bidadoo team. With every machine, we strive to provide the best buyer and seller experience in the industry. Our team and eBay are committed to making that happen."
Below are some recent sales results by bidadoo, reflecting the trust, scalability, and reach of the bidadoo and eBay marketplaces:
- 2018 Oil Field Construction Site Mat Washer - $751,000
- 2014 Volvo EC700CHR Hydraulic Excavator and Shear - $350,000
- 2006 Deere 850J LGP Crawler Dozer / IronWolf Mulcher - $210,000
- 2015 Caterpillar 140M3 Motor Grader - $165,000
- 2018 Komatsu WA500-8 Wheel Loader Articulated Tractor - $127,100
- 2014 Genesis GXT555R Rotating Shear - $165,000
- 2016 John Deere 300G LC Hydraulic Excavator - $111,600
- 2019 John Deere 210G LC Excavator - $143,600
- 2017 Kenworth T880 Tri-Axle Day Cab Truck - $91,300
- 2010 Peterbilt PB340 S/A Semi Truck Tractor - $66,600
- 2019 Chevrolet Silverado 5500HD Mechanic Truck - $152,000
- 2013 Genie Z-80/60 80' 4WD Articulating Boom Lift - $52,460
- 2017 Skyjack SJ1056TH Telescopic Forklift - $81,050
If you are interested in selling with bidadoo this spring and taking advantage of the incredible pricing and demand, contact a bidadoo auction consultant today for an equipment and truck auction appraisal and valuation. If you're interested in viewing the full catalog of items available in this week's auction, or every Tuesday, please go to http://www.bidadoo.com/auctions.
About bidadoo
bidadoo is the largest and most trusted online auction service on the world's largest auction marketplace, eBay. With eBay's 150+ million active buyers around the globe, bidadoo provides equipment sellers access to the world's largest online auction marketplace, with its long-term partnership with eBay. bidadoo provides professional remarketing for used construction equipment, rental and municipal fleets, trucks, and other capital assets to many of the world's largest equipment and fleet companies. Check out our weekly online auctions at http://www.bidadoo.com.
Media Contact
Doug Thayer, bidadoo Inc., 2064429000, dougt@bidadoo.com
SOURCE bidadoo Inc.
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