Headquartered in Washington State, 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 more than 35 percent across many equipment and truck categories.
bidadoo drove significant expansion with many 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 mi. 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 more than 70 percent of items sold to out-of-state/province buyers.
Buy-Now Marketplace
In addition to bidadoo's weekly, no-reserve online auction, customers also have utilized bidadoo's Buy-Now Marketplace to sell and source quality equipment.
The first quarter saw a 18-percent increase in items sold and a 15-percent 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," said Craig Sickmiller, CFO of MCM Management Corporation. "Through their strategic partnership with eBay, the marketing attracts and supports true end-users that normally would not use auctions to source equipment. 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.
bidadoo's record-breaking first quarter (Q1) 2022 vs. 2021 featured:
- Record first quarter sales;
- 24 percent increase in seller locations;
- 15 percent 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 percent mobile participation.
"Our record sales and growth highlight the passion and capabilities of our expanding team and platform," said Howard Hawk, bidadoo president. "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 percent online model. 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."
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.
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