A larger list of equipment is available in the company s online catalog. Through the Web site, bidders can gather information about a listed item, including year, make, model, location and price. They can also zoom in on photos of the machine. An inspection report, also posted on the Web site, rates the item on general appearance, engine, powertrain, chassis, hydraulics and other features. We break down the equipment into operational tests and we also take oil samples one of the engine, one of the hydraulics which is kind of like a blood test on a piece of equipment, said company founder Ray Bundy.
Sellers pay commission fees and listing charges that cover inspection and marketing costs.
Online accounts allow buyers and sellers to monitor the status of bids, access information about past transactions and establish an equipment needs list. Through the list, buyers can request equipment they may need within the next year, and IronPlanet will let them know when something becomes available. Strong infusions of venture capital have helped the company get off the ground. Copyright 2001 Finance and Commerce. All rights reserved.