(EMAILWIRE.COM, June 27, 2001 ) Singapore - www.AssetLine.com held the first ever on-line auction of rough terrain cranes for Tadano in Japan on the 12th June. Bidding interest from the Middle East, Europe and Japan ensured that units were sold for up to US$45,000. For each unit there was a detailed assessment report performed by Tadano’s own engineers and backed-up with over 30 photographs.

Internet sales of used construction equipment are growing rapidly on AssetLine.com, with 78 units sold from March to June for a total value of US$2.9m. Almost 2,700 participants, representing dealers, contractors and construction companies; from 19 different countries watched the auctions live over the internet. Successful bidders were from the UAE, Holland, Indonesia, Philippines, Hong Kong, Japan, Australia and New Zealand.

Though equipment sold to date was mostly excavators and other mainstream earthmoving equipment, the Tadano rough terrain crane auction was the first of its kind. AssetLine’s CEO Marc Edelstein stated; “We’ve already proved we can sell earth-moving equipment over the internet in large volumes, but AssetLine had never tried rough terrain cranes before. This auction, though small, sets a precedent. We now hope to have crane auctions every month to build on this success”

Daryl Kwok, AssetLine’s Sales Director added; “We are delighted with this result. Buyers are naturally nervous buying cranes over the Internet, but comprehensive Tadano inspections provide all the information and quality assurance they require. We hope that this initial success will reassure buyers that AssetLine’s service is secure and reliable”.

Mr Yo Kakinuma, General Manager of AssetLine Japan, said, "The success of our first on-line Japanese equipment for Kanamoto Co. Ltd. in March attracted Tadano to try AssetLine's service with an initial batch of cranes for auction. With this auction's success, not only will Tadano use AssetLine again, other major original equipment manufacturers (OEMs) are also very interested to provide used equipment for sale in our future on-line auctions"

AssetLine is increasing the number of auctions it holds every month. With auctions for Kanamoto, Japan’s largest construction equipment rental company, and Tadano, the crane manufacturer; AssetLine is building upon its initial success. Another Tadano crane auction is scheduled to be held in July, with up to 20 rough terrain and truck cranes included.


About AssetLine (www.AssetLine.com)

www.AssetLine.com is an online exchange and auction site for construction, mining and transportation equipment. AssetLine has offices throughout Asia, Europe and the USA, ensuring that the necessary on-the-ground support and service is available to its clients. Its business model complements traditional distribution channels with a strong online presence. AssetLine’s objective is to make trading in construction equipment more transparent and efficient.

Its business model is adapted to suit every unique environment it has operations in. AssetLine forms strategic partnerships wherever it goes. Its goal is to provide customer service, not replace traditional relationships in the market place, but to use the internet as a tech-enabling and transaction platform. Important strategic partnerships have been established with large contractors and established equipment dealers in many countries, who form part of a Global Partners’ Network providing ground services.

AssetLine currently has over 6,500 registered corporate clients, 16,000 equipment “wanted” registrants and approximately US$70 million of equipment listed on auction. In what is acknowledged to be a US$100 billion industry worldwide, AssetLine plans to capture at least 1 per cent of the worldwide construction and heavy machinery equipment market. AssetLine’s operational offices are maintained in Massachusetts (USA), Singapore (Asia) and Rotterdam (Europe).

For more information, please contact
AssetLine Asia Ltd
Ms Jean Loh
Marketing Director
E-mail: jean@assetline.com
Main Line: 65 325 2868
DID: 65 848 6169
Fax: 65 226 4616
Web: www.assetline.com

Ends.

Contact Information:
AssetLine Asia Ltd
Joseph Nchor
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