The record for the highest price paid for used heavy equipment in an online auction fell, twice, on July 12, 2001, when IronPlanet sold two 2000 Caterpillar 771D off-highway quarry trucks to two different buyers, the first for $267,000 and the second for $264,000. Both pieces were sold on the basis of an independent, insured inspection report from Dyn-CorpServices posted on IronPlanet's web site at www.ironplanet.com. Neither buyer physically inspected the trucks before bidding and buying. Seven different bidders competed for these trucks. The previous record for the highest price paid for used heavy equipment in an online auction was $181,000 for a 1999 Caterpillar 345BL excavator in IronPlanet's on-line auction on June 14, 2001. The average sale price of equipment in IronPlanet's online auctions is over $43,000.
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