A social trading network for heavy equipment Indoogoo has launched a new social online auction service called Indoogoo Auctions
According to Indoogoo, “Indoogoo Auctions will allow users the ability to list any piece of equipment, no matter how large or small and as auctioneers they control the timing and layout of their own auction.”
The service is designed to give users the ease and scope of an online auction with the networking and trading potential of a physical auction house, all contained within the framework of a social trading network, added the company.
Mark Turner, CEO of Indoogoo, said, “Online social selling has revolutionised trading in dozens of business sectors and Indoogoo is set to transform the US$200bn used industrial equipment market with Indoogoo Auctions.”
Indoogoo Auctions works differently to existing auction facilities because Indoogoo does not retain bidder information for its own use, added Turner. “Instead, this is given directly to the auctioneer, so they can contact unsuccessful bidders for potential further trades. Once an auction is complete, all bidders can interact through Indoogoo to ensure no trading opportunities are missed,” he noted.
Bidders remain anonymous to each other until the auction is closed and only the auctioneer can see everyone participating during the auction process, revealed Turner.
