IronPlanet.com has set a new record for the highest-priced item sold at one of its virtual auctions. A 2008 Gomaco GHP-2800 slipform paver belonging to transportation contractor John Carlo Inc., Clinton Township, Mich., sold to an undisclosed Louisiana buyer for $930,000 at the Oct. 21 auction, which drew 13,500 bidders from 140 countries spending a total $7.2 million. John Carlo used the auction to liquidate its fleets in Michigan and Florida. “Everything we sold at IronPlanet, including the paver, exceeded our expectations,” says Fred Peltier, John Carlo’s corporate equipment manager. The Pleasanton, Calif.-based auction company filed for a $92-million initial
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.