Today at eBridge we ran an auction for wheel loaders. This auction was unique because the purchaser was trading in their two old wheel loaders and purchasing two new ones. In the auction, the supplier bid up the trade-in value for the old wheel loaders’ and bid the new wheel loaders’ price down.
We sourced eight suppliers and there were 142 total bids made. First place turned over 13 times and the winning price came in with 9% savings. We were pleased with the results and look forward to doing business with this purchaser again.