Building on a successful 18-year partnership, eBay — a global commerce leader that connects millions of buyers and sellers around the world — and bidadoo — an online remarketing and auction company of equipment, trucks and capital assets — announced a strategic partnership and investment.
The strategic partnership combines the powerful platform and global reach of eBay with the capabilities and experience of bidadoo.
"eBay is laser-focused on providing buyers with the best possible experience, including assurances and protections for big ticket, investment and alternate asset classpurchases," said Chris Prill, vice president of eBay Motors, North America.
"In the heavy equipment industry, which has rapidly transitioned from in-person transactions to online due to lockdowns, this is more important than ever. By harnessing the capabilities and experience of bidadoo — the largest industrial seller on the platform — eBay can offer end-to-end transactions that are more transparent and efficient, while boosting buyer confidence in their purchase without having to see an item in person."
Globally, the used heavy equipment market is estimated to be $400B. This industry has seen the rapid adoption of online equipment marketplaces accelerated via the COVID-19 pandemic.
With live auctions events and in-personal sales sites shuttered during the pandemic, sellers have moved to the more efficient online model that doesn't require the physical stockpiling and storage of equipment to create an auction event. Instead, sellers sell their equipment from where it sits, saving transportation costs. Buyers are flocking to the online model as they no longer have to physically to inspect equipment to make informed buying decisions.
Through this partnership, eBay and bidadoo will deliver industry-leading solutions for buyers and sellers by bringing together the core strengths of each company. To underscore the rapid online adoption, through Q3 of 2021, bidadoo has had a spike of more than 77 % in onboarding new seller accounts through Q3, 2021 year-over-year.
Every bidadoo equipment listing includes a detailed condition report, photos and video demonstration. Every machine and truck is sold with the bidadoo 100 percent guarantee, providing for a full refund if a listing is not accurately represented.
eBay's Chris Prill elaborates on eBay's and bidadoo's shared objective to become the leading heavy equipment solution in the market.
"eBay is a leading destination for buyers and sellers worldwide and we're doubling down on providing tailored solutions and value for each customer segment. This partnership accelerates our goal of better serving Business and Industrial (B&I) buyers and sellers by offering a single, trusted destination for the entire transaction.
"As eBay and bidadoo build on our 18 year relationship, we'll expand marketplace offerings and hone existing ones to become the leading heavy equipment solution in the market."
"We are excited to deepen our partnership with eBay to expand our remarketing andauction solutions," said Howard Hawk, president of bidadoo.
"For over 18 years on eBay, bidadoo has been committed to delivering the best buying and selling experience in the industry. From day one, we chose to build our business on eBay. We share a DNA and similar vision: being passionately customer-centric and laser-focused on improving marketplace and ecommerce efficiencies. Beyond this, we are both centered around trust and transparency. This partnership and investment will enable us to bring newsolutions and capabilities that will add significant value to our customers as we continue to grow our solutions and very passionate team."
bidadoo continues to grow and is accepting consignments across North America. bidadoo holds weekly online auctions every Tuesday, as well as its daily bidadoo Marketplace.
For more information, visit www.bidadoo.com.
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