Bidadoo sales spike 22% in Q1

Online equipment auctioneer and remarketer bidadoo reported strong first-quarter results, with total sales increasing 22% year over year.

Seattle-based bidadoo saw its average selling price rise 10% YoY, reflecting stronger demand for higher-value equipment and trucks, according to the company’s May 14 earnings release. Sales from strategic accounts, including rental companies and fleet owners, also climbed 22% YoY, while fixed-price “Buy It Now” sales surged 94% YoY. Active seller accounts rose 31% YoY.

The company reported continued growth in cross-border and out-of-state equipment transactions, with 79% of items sold shipping outside of the seller’s original state, province or country. In addition, 80% of equipment sales above $10,000 went to out-of-state buyers.

Site Pro Rentals is one company that benefited from bidadoo’s platform in Q1, Michael Logan, director of fleet at the equipment rental provider, stated in the release.

“As we navigated a complex fleet relocation and market consolidation, bidadoo acted as an ‘easy button’ via a solution with the flexibility to maximize returns,” he said.

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