IronPlanet.com Selling Military Rolling Stock SOON!

[wreckerman893]

I'm not sure what they are basing their minimum bids on but this may keep the scrappers away if they don't think they can make a buck.

One thing this will discourage is bidding the minimum on everything on your watch list so you can see who you are bidding against (bid history box) and being able to keep a record of what certain items sold for. I do this all the time and I do not like not being able to do it.

Another question I have is does Iron Planet buy the vehicles from the government and then resell them (a rumor I heard) or are they just a agent selling them to the highest bidder and making a commission/fee off the top?

 

[Al Harvey]

It's the same as GL. They are selling them for the government. Unless somebody has some info I haven't seen. I'm just curious if they will actually make money. GL guys said they bid the contract up 75% and gl wouldn't be able to make enough to justify goin up in their bid.

 

[Al Harvey]

Does anyone know how the contracts actually work? Are the companies bidding X amount to be able to sell the vehicles then they give Y% of the sell to the government? That's how I think I understand it.

 

[Piper Cub]

So far I get the feeling that when they get more locations there will be many a M105 rusting into the ground before they get bid on...

 

[mikey]

The market will dictate the prices, not the seller. Look in the classifieds here at some trucks with ridiculous prices. They sit. The thread gets bumped coming down $1k per bump and they still sit. The seller does not dictate the prices, the market does. I don't care how much you THINK your wonderfully maintained MV is worth, it's only worth what someone is willing to pay for it.

IF the starting bids being quoted here are true, I have not even seen the site, that iron will sit until they have so much inventory that they are forced to change their practices. They MIGHT pick up a few high spenders from their loyal base of bidders who want an M929 or an M936 that they can use for business, but they aren't going to find enough deep pocketed hobbyists to sustain those starting bids and make them the money they hope for. Again, this is IF the speculation is correct regarding ridiculous starting bids.

Supply and demand. The market will fix the prices eventually. They may be higher than GL, but only if bidders are happy to give them more money for the new assurances that GL never provided.

Time will tell, which is fine for me because all seven of my trucks would love some attention.

Mikey

 

[Al Harvey]

My only worry is the fact they aint too worried about the hobbist, they are trying to introduce the trucks to companies which haven't seen or don't know about military trucks being sold. But time will tell. Is it November yet?

 

[rhurey]

They bid 75.29% to DLA.

Their payment system seems setup for business to business. They're cross advertising with the IP site.
Whether this payment system will work for GP will likely come down to how much of the sales from GL were hobbiest, and how many of lost sales GP can replace with B2B sales.

There's a min bid price that they can make a profit at getting 24% of. For some items, you may be seeing it based on the services they think they'll provide.

One unknown is what the requirements are for items that don't sell. Does DRMO say "Must sell in X months, or release as scrap" or what?

 

[rickf]

It is going to be REAL interesting because there is a truck they are selling near me that GL is also selling right now in the same location. I can pretty much guarantee that after seeing this someone will buy it from GL before it makes it to GP. Does that mean they will be pulling lots before the sale already like we are used to seeing? At least one thing would be familiar.

 

[CARNAC]

HSFTMFMGSOB I'll let you all figure that one out.

 

[Alexsha]

From the pictures, it looks like the ones in Utah are still on HAFB, so maybe that's not changing.

 

[pctrans]

HSFTMFMGSOB I'll let you all figure that one out.

Well, it's not the seven words you can't say on television.

 

[Suprman]

Every other auction site selling gov an municipal surplus have low starting bid prices. There are a few private party sale or corporate items here and there that have reserve prices. There has to be some price structure requirement in the gov contract to sell the stuff. The ultimate object of the gov auctioning stuff is to move it. It's in the way the gov wants it gone. The gov does not care what they get for it. They don't need your money they can just print more. We hand out billions all over the world a few million here and there in pocket change. The govplanet inspection won't find internal engine or drivetrain issues from improper rebuild or bad maintenance. Retail customers that buy equipment from ironplanet will not be happy when they get a lemon mil truck. Give it a few months I think they will realize that giving the gov that huge percentage was a mistake and by the time they pay overhead there isn't much money to be made. If there was money in having the trucks properly evaluated and then standing behind that evaluation GL would have done it a long time ago.

 

[Reckless]

The ones in GA are at Ft Stewart, so they are still on bases. I assume no more close runs to ATC though

 

[Suprman]

The military is not fond of civilians going on base especially driving around one in a military truck. Ironplanet has to have sites where the commercial equipment is stored for auction.

 

[doghead]

The military is not fond of civilians going on base especially driving around one in a military truck. Ironplanet has to have sites where the commercial equipment is stored for auction.

All of the GL purchases I have made, I went to a military base to preview and pickup at. Driving the trucks off has never been an issue.

 

[Suprman]

The military is blind to it then. If they knew civilians were driving around a mil base in an unregistered military truck they would not be happy about it. It's an unbelievable security issue especially with everything going on today.

 

[NDT]

Apparently the "Ironclad assurance" is assuring you that it is not operational. Whoopie do.

 

[Al Harvey]

Your not supposed to drive any of them off site but not all GL sites enforce that.

 

[doghead]

In no way questioning that, but I wondered if you had a link to it? Sounds like an interesting read.

From the GP site, under the "payment" tab

Payment can be made by wire transfer (recommended), certified bank check (U.S. customers only), or credit card (when full payment amount is $5,000 or less).

or credit card (when full payment amount is $5,000 or less).

Once again, reading is fundamental.

 

[smittyjr355]

It seems alot of you are not happy with GP starting bid prices so I want to shine some light on the topic. First off anybody watching the past couple months of GL's auctions will know that all most all of these items will sell for or more than the starting bid that GP has set. Now for some good news. I have watched many iron planet auctions and if a item does not sell do to the starting bid being to high, iron planet will then run the item right back through the auction with a lower starting bid. I'm pretty sure that GP will be the same as they will not want to be relisting the item every week or month, however often they are going to have auctions. Hope this helps