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New Client in Heavy Equipment Sector Has Best Result To Date

One of NextLot’s newest heavy equipment auctioneers recently achieved record statistics during a municipal equipment auction in early May 2010. The client, which started using NextLot less than three months prior to this auction, sold nearly $500,000.00 to Internet bidders and had a greater internet sell-through percentage with NextLot than with any other provider it had used. Additionally, nearly half of all Internet bidders logged in during the webcast were active participants and placed bids – a testament to the focused marketing strategies implemented by NextLot. The highlight of the entire auction was undoubtedly the sale of two 2009 CAT 930H wheel loaders to the Internet buyers for nearly $120,000 apiece. NextLot is excited by this client’s achievements and looks forward to helping them achieve even better results in the future.

NextLot Runs Its Largest Online Auction Ever With Great Success

In February, 2010, Nextlot held its largest live online auction webcast ever, which was a 5800 lot heavy equipment auction. As the sale was held in beautiful, “sunny” Florida, it enabled a diverse group of bidders from various backgrounds and industries to bid both on-site and online. With the auction spanning over seven days, the only thing that tried to slow the auction down was the rain. However, as they say in show biz, “the show must go on”, and so did the auction. Even as the rain poured and visibility dropped, NextLot's experienced team rolled with what was thrown at them and continued to receive bids from all over. This inevitably made the sale better for both the buyer and seller. Even with very high prices on-site due to the large numbers of international bidders participating at the auction, Nextlot still sold about $3 million to online bidders all across the United States as well as in Bolivia, Canada, Chile, and Korea.

Auction Company Starts New Line of Business and Attracts Thousands of New Bidders

In the third quarter of 2009, a Midwestern farm equipment auctioneer came to NextLot in search of a new timed-online auction platform that would not only expand its bidder base but increase sales by creating a new revenue stream as well. This firm was looking for a way to host these auction events on their own website, not a public portal where they would share their customers with other auctioneers. In just the first six months of running timed-online auctions, the auction firm has seen great success. In the short time the auction company has run online auctions with NextLot, the company has held about 50 online auction events and has registered close to 2,500 of their own bidders that they do not share with their competitors. They have created a substantial new revenue stream with $0 upfront costs and are moving towards running live webcast auctions. NextLot has seen its customers achieve this type of success across a variety of industries by deciding to implement its intuitive, privately-branded online auction technology that buyers really enjoy using.

Heavy Equipment Auctioneer Sees Large Increases In Online Internet Sales

In 2009, a major Canadian heavy equipment auctioneer started using NextLot with great success. In only 90 days, this client saw the number of online bidders who participate in their live webcast auctions increase by 600% and saw their online bidding sell-through percentage (the percentage of the auction sold to internet bidders) increase by over 800% to a 25% sell-through percentage. When NextLot asked this customer what they believed was responsible for such impressive results, the auctioneer said that it was due to ease of use. The auctioneer said that they had received numerous compliments from buyers saying how simple NextLot's software was to use.

Online bidding also provides success for this auction company which is located in an area with very harsh winters. If their bidders find themselves unable or unwilling to brave the snow and below freezing temperatures, then online bidding allows them the convenience of bidding from the comfort and warmth of their home or office.

This company has been able to significantly increase their revenue with the added competition brought on by the online bidders. The auctioneer is very pleased that NextLot's online auction solution can effectively handle high volume traffic and multiple auction rings at one time.

Client Sees Record Internet Sell-Through With NextLot Platform

In August of 2009, NextLot started providing online bidding services to the largest privately owed auction company in the United States. This particular company runs over 100 heavy equipment auctions each year, travelling to every part of the country and often running multiple sales per week to solidify their prominent position within the industry. NextLot immediately rose to the challenge of running the company’s online bidding platform.

By offering a live audio and video feed of every auction as well as an on-site clerk, NextLot ensures that every internet bidder has the opportunity to bid on the items as though they were standing on the auction floor. Over the next several months, NextLot’s sophisticated software and marketing strategies showed the customer over a 500% increase in the number of bidders registered online as well as over a 300% increase in the amount sold to those bidders. The customer has been extremely pleased with the new system and early in 2010 at a sale in Columbus, Ohio they learned just how much of a difference switching to a privately branded platform could make for their auctions.

The sale in Ohio was a very typical sale for the company as it contained just over 400 total lots of heavy machinery and support equipment. On auction day, the sale attracted around 150 people to bid in person on the several million dollars worth of equipment that was being sold. The participation from the floor bidders was typical in that it was consistent in bringing sufficient amounts for the equipment but the participation from the Internet buyers was anything but typical. A solid live bidding presence was further strengthened by NextLot’s easy to use software, which helped to attract well over 100 online buyers who collectively purchased over 30% of the inventory. There were several bidders who bid on and won extremely large items, some well in excess of $40,000. One bidder in particular stood out by buying over $250,000 worth of very late model Case excavators and loaders. Another felt comfortable enough with NextLot's platform to bid on a late model long reach hydraulic excavator that he ultimately won for $100,000. At the end of the day, having NextLot's unique internet bidding solution at this auction contributed to $1.5 million in internet sales as well as pushing up the value of the items ultimately sold to the floor.

Client Sells Its Most Expensive Piece of Construction Equipment Online to Date

In one of the largest tests to date of their exclusive self-branded auction platform, a major construction equipment auctioneer sold its most expensive piece of machinery online to date. On the second day of a recent four day auction in Atlantic City, NJ, this client sold a 2008 Komatsu PC600 LC-8 Hydraulic Excavator for $300,000.