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“We have also begun to hold online auctions to sell the Commonwealth’s surplus heavy equipment. The old, live-in-person auction system generated about $5 million a year. Using the Internet, we’re on pace for a 20 percent revenue increase.”
– Governor Rendell’s December 6, 2003 Radio Address
The Pennsylvania Department of Transportation was using a traditional onsite auctioneer without online capabilities. We increased the advertising budget by $15,000 and the results were phenomenal. The sale returned in excess of $100,000 over previous sales of similar equipment.
The State of PA conducted their initial online sale for their surplus DOT items in October 2003. The sale consisted of 77 items including 37 Dump Trucks, 8 Loaders, Backhoes & Excavators, 4 Message Boards, 2 Paint Trucks, 2 Graders, Bridge Inspection Crane, and a Satellite Van.
Onsite Inspection was available twice during the two-week bidding period. The online sale allowed the Commonwealth of PA to obtain an average price increase of 20% while reducing labor costs related holding a traditional onsite sale.
On Higher value specialty items (Bridge Inspection Crane & Satellite Van) results exceeded estimated sale price by over 200%.
|
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
| Total Bids |
1023 |
1142 |
1253 |
1633 |
2497 |
| Total $ Bid |
$248,092.03 |
$294,016.02 |
$316,548.20 |
$448,925.12 |
$635,416.03 |
| Daily Bids |
|
119 |
111 |
380 |
864 |
| Daiily $ Bid |
|
$45,923.99 |
$22,532.18 |
$132,376.92 |
$186,490.91 |
- Total Sales: $635,416.03
- Half of the bidding activity occurred in the final 2 days.
- Every lot received multiple bids.
- Overtime bidding occurred in 39 lots.
-
In Excess of 200 Bidders registered for the Sale.
- 174 Bidders from 19 States and Mexico
- 47 Different Buyers
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