IronPlanet, the leading online auction company for used construction and agricultural equipment, has set up operations in Dubai to capitalize on business opportunities in the Middle East.

Since launching European operations in January 2009, IronPlanet has actively supported the Mena region, a statement said.

A significant number of buyers and sellers were located in the Middle East region and, as a result, IronPlanet has opened a Dubai office this year, that will focus on and further develop the Middle Eastern market, it added.

Unlike other equipment auctions, IronPlanet’s model is wide reaching on an international scale because it is all executed online; an average of 110 countries participates during an auction.

The online model provides buyers and sellers a more cost effective and convenient way to buy and sell used construction equipment versus traditional auctions.

Much of IronPlanet’s success has stemmed from its ability to overcome purchasers’ concerns about buying equipment online by delivering guaranteed inspection reports on equipment being auctioned. Detailed inspection reports for each piece of equipment in the auctions can be viewed on ironplanet.com.

Inspection reports include a visual inspection of key systems and components along with ratings and notes, images of the equipment, wear-related measurements and oil / fluid samples when appropriate.

Buyers can be 100 per cent confident in the inspection reports because they are supported by the IronClad Assurance, which means that what buyers see on the inspection report is what they actually get when they receive the equipment, the statement said.

By guaranteeing inspection reports through its IronClad Assurance, IronPlanet stands behind the buyer’s purchase and mitigates any dispute on equipment condition. For local buyers in the Middle East, IronPlanet’s inspection reports and IronClad Assurance are crucial in convincing them to overcome any traditional reservations against buying online, according to the statement.

“We’re very excited about IronPlanet’s Middle East business launch which represents another significant milestone in our international growth strategy,” said Tom Cornell, managing director of IronPlanet Europe, Middle East and Africa.

“The market excitement and auction participation in the Middle East so far are testaments to our strong value proposition - that IronPlanet provides auctions you can trust,” he added. – TradeArabia News Service