The Heavy Equipment Exchange (THE Exchange) is the world’s first available online marketing place exclusive to dealers that facilitates the global trading of heavy equipment both on-and off brand. The website brings together dealers in the road building, construction and related heavy equipment industries in order to accelerate transactions. The transactions will be put through via a smart, patent pending, secure, cloud-based SaaS platform.
“Today, used heavy equipment is being traded using archaic and inefficient business models resulting in billions of dollars being left on the table by both independent and original equipment dealers.” said CEO of THE Exchange, John Fleming.
Currently, there are only 3 ways to purchase heavy equipment: attending auctions, going through your rolodex and making countless phone calls, or searching through classified ads. Until the launch of THE Exchange, wholesale pricing was a non-existent term in the heavy equipment industry. The new marketplace has changed this by creating a wholesale pricing system that offers a help tool that assists serious buyers and sellers interested in a return on invested capital and speedier transactions. Over 600,000 data points are pulled from industry sales statistics, auctions, and actual transactions in order to determine the most accurate prices for the website.
Buyers and sellers are brought together in a specialized wholesale marketplace which connects decision makers in a dynamic trading environment. THE Exchange uses industry leading technology that facilitates efficiency while reducing costs, and will enable additional transactions at regulated market pricing. This lowers the costs of moving surplus, offers higher dealer margins, and ultimately reduces lost sales by increasing the effectiveness of invested capital.
The Heavy Equipment Exchange has received funding from both U.S. and European investors based on the depth of its staff, management team, and extensive business model.