PLEASANTON, Calif. – June 10, 2014 – IronPlanet®, the leading online marketplace for buying and selling used heavy equipment, today announced a licensing agreement with BiddingAce, a new online marketplace for general aviation aircraft. Under the agreement, BiddingAce uses IronPlanet technology to power its e-commerce marketplace.
“IronPlanet is excited to extend our best-of-breed online marketplace model to new industries,” said Greg Owens, CEO, IronPlanet. “The IronPlanet platform is ideally suited for industry-specific marketplaces such as general aviation, and with the combination of BiddingAce expertise, it will provide an important service to aviation enthusiasts worldwide.”
Through this licensing agreement, BiddingAce realizes significant benefits from IronPlanet’s technology with its powerful industry-specific search capabilities, the ability to select from multiple selling models, and integration with back-end support teams and service providers that assist buyers and sellers in completing transactions. Unlike other listings sites and marketplaces, IronPlanet’s platform enables end-to-end transaction management and customer support.
“BiddingAce chose IronPlanet because it allowed us to quickly enter the market and provide an important service to the general aviation industry,” said Tom Henn, BiddingAce Co-Founder and CEO. “By using IronPlanet’s technology, BiddingAce delivers broader trade of general aviation aircraft worldwide, which we believe will spur greater interest and support of aviation in general.”
BiddingAce allows aviation enthusiasts to buy and sell general aviation aircraft quickly, safely, and globally. Each aircraft listing features detailed specifications that can include maintenance logs, FAA 337 forms, a mechanic’s review, videos, pictures, and more. Buyers review this information and then submit bids during a limited listing period. The marketplace is different from other aviation websites because BiddingAce enables buyers and sellers to complete the financial terms and conditions of a sale online and provides aviation-specific expertise and relationships.
Since pioneering online equipment auctions for the construction market in 2000, IronPlanet has successfully sold over $3.5 billion of used equipment online and has built an audience of more than one million registered users worldwide. IronPlanet connects buyers and sellers of used equipment with its exclusive IronClad Assurance® buyer protection program and family of sites including IronPlanet®, TruckPlanet®, and allEquipSM.
IronPlanet is the leading online marketplace for used heavy equipment. Our sellers achieve more profitable sales through low transaction costs and better price realization through a global audience of buyers. Our guaranteed inspection reports and exclusive IronClad Assurance enable buyers to bid with a high degree of confidence. IronPlanet is backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo. For more information, visit www.ironplanet.com.
About BiddingAceBiddingAce is an online marketplace for buying and selling general aviation aircraft. Our goal is to provide aircraft owners and pilots a unique resource on the Internet for conducting actual transactions and for encouraging true, market-based pricing for aircraft sales. Additional information can be found at www.BiddingAce.com.