Revenue

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue

7. Revenue

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

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Commissions	$	211.0	$	108.2	$	574.8	$	361.0
Buyer fees	457.6		74.5		1,062.2		237.1
Marketplace services revenue	105.2		64.0		286.4		179.9
Total service revenue	773.8		246.7		1,923.4		778.0
Inventory sales revenue	246.0		164.8		715.3		511.9
Total revenue	$	1,019.8	$	411.5	$	2,638.7	$	1,289.9

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 purchasers on the sale 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.