Equipmentfacts Provides Online Bidding for over $8 Million Equipment Auction Held by Permain International Energy Services
FLEMINGTON, N.J., Oct. 24, 2018 /PRNewswire/ -- A recent equipment auction performed by Permian International Energy Services, LLC with online bidding facilitated by New Jersey-based Equipmentfacts brought over $8 million in gross auction proceeds.
FLEMINGTON, N.J., Oct. 24, 2018 /PRNewswire/ -- A recent equipment auction performed by Permian International Energy Services, LLC with online bidding facilitated by New Jersey-based Equipmentfacts brought over $8 million in gross auction proceeds. Equipmentfacts contributed 274 approved online bidders from 41 U.S. states and 11 countries worldwide to the live auction, which took place in Rock Springs, Wyoming on October 4th. Pre-bidding through Equipmentfacts opened ahead of the live sale, accepting over $1.5 million in pre-bids. On auction day, Equipmentfacts sold 49% of the auction's lots to online buyers registered through the service, and online participants were runner-up bidders on 651 of the 1,079 total auction lots. The resulting auction proceeds exceeded Permian International's initial $6 million projection by more than 30%.
The October 4th auction was the first official sale for Permian International Energy Services, which brings together decades of combined industry experience and focuses primarily on oilfield equipment. Ahead of the sale, Permian International Energy Services advertised extensively in Machinery Trader in addition to sending email blasts to Equipmentfacts' massive user base. Permian International's Eric Dyess attributes the success of the auction to a combination of extensive advertising ahead of the sale and the global audience of bidders facilitated by online bidding.
Equipment sold to buyers across the U.S., as well as South Africa, Saudi Arabia, Lebanon, Jordan, Canada, Mexico, Guatemala, and a number of countries across South America and the Middle East. "These days, if you're going to do an auction in a remote location, you absolutely have to have a partner like Equipmentfacts," said Dyess, who had used the online bidding management service previously. "We knew the value of online bidding, and knew that Equipmentfacts and Sandhills Publishing could provide access to the global customer base we needed for a successful auction."
Permian International Energy Services will hold its next auction in Odessa, Texas on November 13th. Visit Equipmentfacts.com to find more information about this auction, browse the sale catalog, set up alerts for the sale, and register to bid. Pre-bidding for this sale opens November 1st.
About Equipmentfacts
Equipmentfacts offers live-stream auction broadcasts, online bidding, advertising, and auction and bidder management solutions for a global user base of auctioneers specializing in equipment and trucks. As a product of Sandhills Publishing, Equipmentfacts is backed by extensive experience, a global product portfolio, print and online market exposure, a substantial technical infrastructure, and industry-leading customer service.
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