Cat Auction Servies: Bidding on Cat Means Bidding with Cat

September 28, 2010

The world's largest construction-equipment manufacturer is no longer only represented in the auction business by its products. The Caterpillar brand is now in the auction business itself.

A partnership of Caterpillar dealers, Cat Auction Services is focused on “creating value and reducing risk for both buyers and sellers,” through detailed inspections, a range of warranty protection and parts discounts for qualified Caterpillar equipment, and Cat dealer parts and service support, says the new Minneapolis-based company.

“We've created a customer-focused approach that leverages our heavy-equipment expertise, world-class product support capabilities and industry experience,” says Rick Albin, president and chief executive officer of Cat Auction Services. “This allows us to create a win-win situation for both buyer and seller, because they have more information to make better decisions. By reducing the risk that's inherent in many auctions, we'll create more value. And, because we're Cat dealers also offering both new and used equipment to the industry, we have a greater stake in taking care of our customers.”

Cat Auction Services allows buyers to purchase equipment online or in person. Real-time online bidding powered by Proxibid will provide a global audience for the auctions, the first of which is scheduled for Nov. 12 in Des Moines, Iowa.