Revenue

3 Months Ended

Mar. 31, 2023

Revenue.

Revenue

7.    Revenue

The Company’s revenue from the rendering of services and the sale of inventory is as follows:

	Three months ended
	March 31,
	2023		2022
Commissions	$	130.6	$	116.4
Buyer fees		140.7		75.6
Marketplace services revenue		72.3		52.9
Total service revenue		343.6		244.9
Inventory sales revenue		168.8		149.0
Total revenue	$	512.4	$	393.9

Commissions are earned from consignors on the sale of consigned assets at auctions and online marketplaces, and private brokerage services. Buyer fees are fees earned from the purchase of consigned assets or from the sale of inventory at auctions and online marketplaces, and from private brokerage services. Marketplace services revenue includes fees earned from services provided to customers in marketplaces such as refurbishing, parts, data, transportation and logistics, inspection, appraisal, listings, financing and title and liens processing, as well as other auction-related fees.