Starting in November, Cat® Auction Services aims to shake up the auction industry by giving both buyers and sellers more information about the equipment and more options after the sale. A partnership of Caterpillar® dealers, the new business 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, plus Cat dealer parts and service support.
"We’ve created a customer-focused approach that leverages our heavy equipment expertise, world-class product support capabilities and industry experience," said Rick Albin, president and CEO 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 offers the following advantages to buyers and sellers over traditional auction services, according to Albin:
- Equipment pre-inspected to Cat Used standards
- Range of warranty protection available on qualified Caterpillar equipment
- Parts discounts on all Caterpillar equipment
- Unparalleled Cat dealer parts and service support after the sale
- On-site financing to pre-qualified customers through Cat Financial Services
- Opportunities to utilize Like-Kind Exchange for tax efficiency
"Cat Auction Services will feature an inventory of Caterpillar equipment but we also plan to be the leading source for all makes and types of equipment," Albin continued. "We want to give our customers more options to dispose of their surplus equipment. Our auctions won’t replace traditional used equipment services from Cat dealers – it simply enhances dealer offerings and gives our customers more flexibility."
Cat Auction Services allows buyers to purchase equipment online or in person. Real-time online bidding powered by Proxibid provides a global audience for the auctions, creating even more selling opportunities.
The first Cat Auction Services auction will take place in Des Moines, Iowa, on Nov. 12, 2008. View www.catauctions.com for more information, or contact Cat Auction Services at 952-884-2915 or 866-750-9432.
