The online equipment auction space continues to grow, but one company says its strategy is built around transparency and simplicity.
Purple Wave has positioned itself as a leader in the online, no-reserve equipment auction market, focusing on a fully digital experience for buyers and sellers. Over the past several years, the company has expanded its technology and reach, allowing more farmers, contractors, and equipment dealers to participate in auctions from anywhere.
According to Martin Schuh of Purple Wave, “When you look at it, we have that global reach we’re able to reach all over the world and have sent equipment all over. We take care of our customers and make sure it’s a good fit for you. But then we do what we do best and bring you that market.”
Schuh says a major boost has come through its partnership with Copart. That collaboration has resulted in a larger audience for sellers and more equipment options for bidders.
He says, “That really added a lot of ability from the standpoint of allowing us to grow. We were growing and we were doing great, but this allowed us to speed that up a little more and be able to do more and have that access to be able offer our services on a wider basis.”
Schuh adds that it’s the companies’ no-reserve model that is a key differentiator. Every item sells to the highest bidder, which creates transparency and strong buyer confidence compared to traditional auction houses.
“Main thing for us is getting more people encouraged from the standpoint of being okay with selling with us. And I understand, when you first come into it, the whole idea of a no reserve is a little difficult for people to swallow. But I think part of it is learning and understanding why it’s important to go that route, because it’s really the best way to sell anything.” Schuh concluded.
To make the process even easier, Purple Wave is also expanding seller services, including improved listing tools, detailed inspections, and enhanced marketing to help equipment reach the right buyers quickly.
Find more information at purplewave.com
