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There are well-known reasons to buy and sell cranes at auction. Among them are legal safeguards and meticulous lien searches to confirm equipment is free from any financial obligations. Auctions also allow buyers to assess equipment to confirm features and the machine’s condition.
“When buyers are looking for used cranes, they should have an opportunity to call a representative who can clearly describe the crane to them,” said Bryan Carr, national sales – cranes at Jeff Martin Auctioneers, Inc. “There should be pictures and videos to assist the buyer in deciding if they have an interest in a specific crane.
“A buyer should also request work orders to see the mechanical history of the crane, and if possible schedule an appointment to look at the machine,” Carr continued. “If you are a larger fleet owner who is planning on acquisitions you will also want an ASA Appraisal.”
The considerations for sellers are equally important. “For realizing a maximum return when remarketing cranes and related equipment, sellers should choose an auction company with a dedicated staff of professionals who understand the value of the machines,” Carr said. “A team that understands cranes is better able to target appropriate end users.
“Crane sellers have a core business to run and do not usually have time to stop what they are doing to provide potential buyers with information, but an auction company can assist with that very effectively,” Carr continued. “An auction company that has a focus on cranes is crucial. You want a partner who understands the value of the assets that you need to remarket, as well as the many different components that are available.”
Delivering Practical Solutions
“Each crane company, whether a buyer or a seller or both, has different challenges when it comes to remarketing or buying used equipment,” Carr added. “In short, you will need an auction company that can deliver practical solutions in a professional manner, including offerings that are tailored to fulfill your company’s needs.”
In the current used crane market, Carr reported, rough terrain and mid-size crawler cranes are still heavily available, and buyers are aggressively searching for late model all-terrain, rough terrain, crawler and hydraulic truck cranes.
“As interest rates remain high, and the price of new cranes continues to rise, a growing number of crane operators and users continue to strongly support the used crane market,” Carr said. “Currently, we believe this trend will continue into 2025.”
When sellers are choosing an auction company to remarket their cranes and ancillary equipment, there are several options that they should keep in mind, Carr noted. For example, Jeff Martin Auctioneers has a “Buy Now” page for buyers who need equipment immediately.
“We have also developed the Virtual Crane Auction,” Carr said. “It can cost from $10,000 to $60,000 to move certain cranes to an auction site. Alternatively, we have a team of evaluators who go to the seller’s facility to inspect and take video to show the condition of each crane. This approach has proven to be very effective. In fact, 99% of our crane sales are now virtual.”
“Cranes, platform trailers and rigging equipment are very expensive,” Carr said. “When it is time to sell or update your cranes you are expecting a fair price or maximum value. An auction company with a dedicated division that solely focuses on cranes is one that is invested in the industry and one that can help you achieve the best results."
Jeff Martin Auctioneers, Inc., based in Brooklyn, Mississippi has permanent auction facilities in 10 states, and conducts virtual and on-site auctions at customer locations, which includes a dedicated crane division that benefits customers in the lifting industry.
