Find resources on market trends plus insights to aid your decision-making process, and increase profits, when selling used equipment. Ongoing supply constraints for both new and used equipment have driven used equipment valuations up 30% or more by some estimates. As Howard Hawk, president of bidadoo, comments, "There's never been a better time to sell equipment."
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There's high demand for heavy equipment but limited supplies. Construction business owners are increasingly trying their luck online, with one unique marketplace preparing to deliver even more solutions. The construction industry has undergone unprecedented change since the early days of the pandemic. Many construction business owners were forced to conduct operations in ways they had not previously considered, and the industry saw rapid adoption of technologies capable of digitally bringing multiple parties together in a single online space.
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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 proven capabilities and experience of bidadoo.
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eBay Inc., a global commerce leader that connects millions of buyers and sellers around the world, announced a strategic partnership and investment in bidadoo, an online remarketing and auction company of equipment, trucks and capital assets. As one of the largest marketplaces for heavy equipment, eBay offers buyers a wide selection of equipment, trucks, parts and attachments for industries from construction to transportation to agriculture.
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Saying it is "doubling down" on providing tailored solutions for customer segments, eBay has taken a minority stake in online auction company bidadoo. While the two companies have had an 18-year partnership, the investment takes things to the next level, says Howard Hawk, bidadoo president.
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Global marketplace operator eBay Inc. has been quiet on the business-to-business ecommerce space—until now. In what is arguably its first major B2B move in several years, eBay is launching a new strategic partnership with bidadoo, a leading online B2B marketplace and auction company for equipment, and capital assets for heavy machinery such as forklifts, tractors, excavators and related parts and products.
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Popular eCommerce site eBay has partnered with and invested in bidadoo, a remarketing and auction company for trucks, equipment and capital assets, according to a press release. The partnership will make use of eBay’s global reach and platform with bidadoo’s specialty selections of equipment, trucks, parts and attachments, the release stated. Bidadoo works with industries from agriculture to construction to transportation.
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Global sales platform eBay has announced a strategic partnership with the heavy equipment auction company bidadoo. The strategy is to combine the estimated 159 million buyers worldwide, currently using eBay, with the experience of bidadoo in auctioning and remarketing construction and agriculture equipment and vehicles.
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Global sales platform eBay has announced a strategic partnership with the heavy equipment auction company bidadoo. The eBay/bidadoo partnership aims to leverage technology, data and industry experience to deliver end-to-end solutions for potential buyers.
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eBay announced a strategic partnership and investment in bidadoo, an online remarketing and auction company of equipment, trucks and capital assets. As one of the largest marketplaces for heavy equipment, eBay offers buyers a wide selection of equipment, trucks, parts and attachments for industries from construction to transportation to agriculture. This partnership will combine the proven platform and global reach of eBay with the unique capabilities and experience of bidadoo.
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eBay a global commerce leader that connects millions of buyers and sellers around the world, announced today a strategic partnership and investment in bidadoo, a leading online remarketing and auction company of equipment, trucks, and capital assets. In the United States, the used Heavy Equipment market is estimated to be between $50 billion and $60 billion. This highly fragmented industry, historically reliant on offline, in-person sales and auctions has seen the adoption of online equipment marketplaces accelerate through the COVID-19 pandemic.
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Online equipment buying has seen a surge in activity over the past several months as COVID-19 accelerated an already existing trend to online marketplaces. Since the start of the pandemic, global commerce leader eBay has seen a steady increase in the number of visits and new buyers to the site as contractors and other essential workers sought the necessary tools and equipment to continue their work.
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As heavy equipment auction companies move to online-only operations in COVID-19 coronavirus conditions, they are seeing significant interest in what’s for sale. The current environment is only underlining the advantages of online bidding, says Howard Hawk, president, Bidadoo, which sells on eBay.
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Some of Bidadoo’s rental company clients expect to double or triple their budgets for fleet disposal in the next few years if economic forces hold steady, says Hawk. “Rental rates, demand and utilization rates are still pretty strong, but you can definitely see the growth flattening out,” he says. “Utilization rates are beginning to soften up a bit from the red-hot pace of the last couple of years, meaning the fleet companies will look toward increased used equipment sales.”.
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As the equipment in a rental fleet ages and customer demands change in response to new legislation, the fleet must be updated. But what happens with the old construction equipment?.
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Coming off a record-breaking year and most recently a record-breaking first quarter, bidadoo President Howard Hawk expects 2019 to be another banner year for sales for the 16-year-old online construction-equipment auction company.
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The heavy equipment auction industry has discovered the tremendous advantages in utilizing the internet as a powerful conduit in conducting auctions. From a "buyer beware" mentality at traditional live land-based auctions — transparency and efficiencies of some auction marketplaces have illuminated the equipment auction environment. A "buyer aware" auction marketplace is where smart equipment buyers and sellers are turning for their trusted fleet equipment needs.
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The internet has revolutionized the way we buy and sell. Many purchases that used to demand in-person transactions have evolved—and improved—into virtual services. Wasted time and travel results in wasted expenses and increased opportunity costs. The internet has brought immediacy, efficiency and greater selection to many traditional markets and new alternatives to the equipment remarketing and auctioning world.
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