| The construction industry has been hit hard by recent | | | | what vehicle. If this is a local auction the chances are |
| problems in the housing business. Just about daily, you | | | | good that you may recognize some of the |
| can read about this or that business going under. But | | | | construction people who have come to bid on similar |
| for companies that manage to survive the current | | | | items. Pay close attention to logos on work trucks, in |
| crisis, all of these business failures may become a | | | | order to get an idea of what companies are |
| blessing in disguise. Because as construction | | | | participating in the sale. |
| companies sell off or liquidate their inventories of | | | | Tip #4: Take A Good Look Around. Once you are |
| heavy equipment and send them to construction | | | | physically at the auction, you will have a period of time |
| equipment auctions, you may be able to expand your | | | | to inspect the equipment being offered. Use this time |
| own company by buying items at auctions. | | | | wisely. Inspect the machine as intensely as you can. |
| Auctions are great ways for you to pick up items like | | | | Bring along someone who has worked on or repaired |
| used bobcat skid steers or skid loaders that for sale | | | | these types of machines, if you can. Talk to the seller |
| are way below normal sale prices. But auctions have | | | | is possible and ask polite questions. |
| long been known for sharp dealings and an "every | | | | Tip #5: Don't forget the auctioneer fees. The price you |
| man for him self" mentality. So before you hop in the | | | | pay for any used equipment is always higher than |
| car and head off for nearest auction, there are | | | | what you bid! Depending on the auction house hosting |
| several things you need to understand first. | | | | the sales, you will owe a buyer's fee or premium that |
| Construction Equipment Auctions Tips | | | | is either a set fee or has a sliding percentage scale |
| Tip #1: It's "Buyer Be Aware". Live auctions are | | | | depend upon the final sales price. In the heat of a |
| exciting. The sights and sounds of the traditional | | | | bidding war, people sometimes forget that they have |
| auctioneer working the crowd with their trademark | | | | to pay more than just the announced bid. So always |
| patter can be quite heady for the first-time buyer. But | | | | bear that in mind, especially if you are on a tight |
| understand that auctions are also very much a | | | | budget. |
| competitive style sales process. There are few | | | | Tip #6: Buying machines from rental company auctions. |
| warranties and safety checks, so you have to go into | | | | Often heavy equipment rental companies will sell off |
| an auction with a cautious attitude. | | | | their inventories in either private sales or auctions. The |
| Tip #2: Do Your Research. Know what you are | | | | prices that these machines sell for is often higher than |
| looking for before you get to the sale. Look at the | | | | through a similar public auction. But while these |
| items being offered in the auction catalog and read | | | | machines are often more heavily used than ones from |
| trade journals, magazines, etc. to learn more about the | | | | individual owners but they are often better maintained |
| features and specifications of the machines being | | | | and repaired. |
| offered. | | | | The tips mentioned above will help you when going to |
| Tip #3: Look for competitors at construction equipment | | | | construction equipment auctions. |
| auctions. Try to arrive early and notice who arrives in | | | | |