Innovative, Professional Auction from Cat® Auction Services Sets New Standards

Pre-sale inspections and JumboTron display highlight auction for both buyers and sellers

Minneapolis, (November 25, 2008) – The inaugural auction from Cat Auction Services held November 12 in Des Moines, Iowa, was met with great enthusiasm from both buyers and sellers. The innovative new approach to construction equipment auctions focused on creating value and reducing risk for both buyers and sellers and the final tallies indeed topped all expectations.

A total of 275 pieces of equipment were sold garnering $8.85 million as 499 on-site and 327 online bidders from 14 states and nine countries, including Mexico, Canada and Egypt, vied for the top-of-the line equipment which featured complete pre-sale inspection reports based on Cat Used standards. In addition to the piece-of-mind provided by the Cat Auction Services-exclusive inspections by Cat® certified dealer technicians, buyers got a unique video look at each machine as it was sold – a high-tech approach available only from Cat Auction Services.

Dan Ames, owner of Minnesota Dirt Works, Inc., of Lonsdale, Minn., made his first-ever auction purchase though he typically buys all his equipment from local dealers. Ames went to the auction intending only to be a spectator.

"It was a first-class event, and all of the equipment seemed high quality. The pre-sale inspection report on the equipment was a big benefit to me," Ames relates. "I went to the auction with no intention of buying and came home with a small compactor. Seeing the machines on the JumboTron moving and going through all their functions gave me even more confidence in the purchase."

McAninch Corporation of Des Moines was the volume consignor and hosted the auction at the company's maintenance facility. Doug McAninch, vice president, complimented the efforts of Cat Auction Services professional approach and personnel.

"The folks from Cat Auction Services conducted a very professional, first-class auction," McAninch says. "The Cat Auction Services personnel worked well with our people through the entire process, and they had our shop very well organized and looking like a convention center for the sale. We will continue to call on our partners at Cat for all our equipment needs in the future."

Cat Auction Services is a partnership of Cat dealers designed to change the standards within the auction industry by creating value and reducing risk for both buyers and sellers. Cat Auction Services offers more assurances than other auction companies through detailed inspections, available extended warranty protection, plus Cat dealer parts and service support. In short, the level of transparency in the auctions gives both buyers and sellers more information about the equipment and more options after the sale.

"Working with a key consignor such as McAninch Corporation, which has a strong history for maintaining equipment, was a big factor in the success of this first event," said Rick Albin, president and CEO of Cat Auction Services. "The quality of the offering was unparalleled, and the pre-sale inspection reports provided the additional information buyers needed to buy with confidence. In today's marketplace, reducing the risk that's inherent in many auctions, helped us create more value. The high-tech approach with video of each machine during the sale, both on-site and online, also helped us set a new standard for equipment auctions as we provide a new and valuable service to our customers."

Cat Auction Services allowed buyers to purchase equipment online or in person. Real-time online bidding powered by Proxibid provided a global audience for the auctions. The next Cat Auction Services event will be in March. View www.catauctions.com for more information, or contact Cat Auction Services at 952.884.2915 or 866.750.9432.

About Cat Auction Services
Cat Auction Services was formed in 2008 and is a unique partnership of Cat® dealers. Cat Auction Services enhances dealer offerings to give customers another option in buying and selling used equipment. The company's expertise in the heavy equipment industry and world-class product support capabilities allow them to offer a level of quality and assurance never before seen in the auction industry. Visit www.catauctions.com for more information.