TANK truck fleets have a new online resource for buying and selling used equipment. The auction service is available on the Bulk Transporter web site at auctions.bulktransporter.com.

The new service should appeal to small- and medium-sized carriers, in particular, because they often lack the time or resources to dispose of used equipment through traditional auction operations. Developed for Bulk Transporter, new service enables companies to buy and sell used equipment faster and with less expense.

The new online auction portal eliminates the need for buyers and sellers to devote time and money traveling to a physical auction site. “They can complete the entire auction process without ever leaving their computer,” says Logan Mellott, director of fleet and distribution for AssetNation, the technology provider that powers the Penton Online Auction Service platform run by Penton Media.

Penton Media is the parent company of Bulk Transporter. The Penton Online Auction Service platform also will serve equipment buyers in the municipal and agricultural markets.

“We believe this portal offers great potential as a clearing house for tank trucks and tank trailers,” Mellott says. “We have created a one-stop shopping environment for used equipment. In addition, we have a large buyer and seller database, and it is growing.”

He points out that the Penton Online Auction community already exceeds seven million buyers and sellers. Among them are more than

100,000 equipment buyers in 70 to 80 countries. “We offer sellers a very broad market,” Mellott says.

Buying and/or selling used cargo tanks and other trucking equipment has gained importance because certain equipment is in short supply and lead times are lengthening as the economy slowly improves. Fleets are looking for ways to quickly and easily list equipment for sale or search for equipment to buy.

In addition to cargo tanks, Bulk Transporter's online auction site will list commercial vehicles of all types, from pickup trucks to Class 8 tractors, according to Mellott. The site offers easy search capabilities for buyers and a relatively simple process for sellers to post their offerings.

Buyers can locate exactly the equipment they need with targeted searches. “With the online portal, we'll never run out of space for displaying trucks and other equipment,” Mellott says. “Buyers will have access to dozens of equipment categories.”

The technology gives sellers the ability to their own listings. “It takes three to four minutes to create a listing using our template,” Mellott says. “The seller can set the price where bidding will start. We give him plenty of space for text to describe the product, and he can include a large number of photos with each listing.”

The portal provides plenty of protection for enabling sellers and buyers to resolve disputes. “We have tried to create an online auction portal that will actually build greater trust between buyers and sellers, he says.

To encourage sellers to try the online auction portal, listing fees are being waived initially.