Unlocking the power of used heavy equipment auctions
Find out everything you need to know about used equipment auctions—including why they’re so popular in the industry, how buyers and sellers can benefit, and what you need to know before you bid.
Auctions are one of the most common forms of sale in the world of used equipment, especially when it comes to construction equipment and heavy machinery. Auctions can be an efficient way to buy and sell equipment, so long as you’ve done your homework.
Types of auctions
When bidding on used heavy equipment auctions, you’ll come across several types of auctions. Each category appeals to various buyer needs and preferences and will differ between auction companies.
- Reserve: have a minimum price that must be met otherwise, the equipment doesn’t sell
- No Reserve: equipment is sold to the highest bidder without a minimum price
- In-Person: physically attend
- Online: participate from anywhere in the world
- Online Live: happens in real-time, bidding for one machine at a time
- Online Timed: bid at your leisure on various equipment over a predetermined period
- Private: reserved for a select group of bidders determined before the auction
- Public: bidding is open to everyone
Why auctions are key for used equipment
There are three key reasons auctions are so important to the used equipment industry, including access to a large audience, the popularity of used equipment, and the use of global channels.
To begin, the global construction equipment market is more than US $200 billion, and continues to rise (source: Construction Statistics Statistics: Market Data Report 2024 (worldmetrics.org)). The high demand for used heavy equipment calls for an accessible way to sell it: auctions can allow mass amounts of sellers to show off their equipment to a large base of buyers—making it more efficient for everyone.
Used equipment is also becoming increasingly popular in the heavy machinery industry because it can be reliable at a price that won’t break your budget. The average life span of a heavy machine is ten years or 7,000-10,000 hours, which can be extended with proper equipment care and maintenance or even rebuilds when necessary. Construction equipment auctions and other used heavy equipment auctions allow these machines to be spotlighted on a large stage with other similar equipment.
Furthermore, unlike new equipment, used equipment tends to move through global channels thanks to dealerships, consumer second-hand sales, and auctions. Auctions, when accessible online, mean the international community can participate in used heavy construction equipment sales no matter where they are.
Benefits of auctions for buyers and sellers
| Buyer benefits | |
|---|---|
| Cost Savings | In no reserve auctions where there is no price floor, there’s potential to purchase below retail value. |
| No Haggling | Fixed auction processes remove the need for negotiation or haggling. |
| Easy & Quick | Find the equipment you want, and bid. It can be that simple. |
| Selection | Find a wide variety of used heavy equipment. |
| Access | Access used heavy equipment for auction from anywhere in the world with online auctions. Ship equipment to you. |
| Seller benefits | |
|---|---|
| Liquidate | Easily get rid of equipment you no longer need, even in mass amounts. |
| Efficiency | Hands off process, let the experts sell it for you and keep the profits. |
| No Tire Kicking | Deal only with serious buyers. |
| No Haggling | Fixed auction processes remove the need for negotiation or haggling. |
What to know before you place your bid
Not all used heavy equipment auctions are equal. Doing some homework and asking questions before you bid can help you avoid unpleasant, and potentially, costly surprises.
Fees: Ensure you look out for hidden or high and absorbent fees on both buying and selling. Some companies will tack on fees at the end of your order, so watch out for high prices before you finish your transaction. Ask the company for a sample invoice (buyer) or settlement statement (seller) and review all the line items.
Lien Searches and Transferring Title: Make sure there are provisions to transfer the equipment’s title. Check with the seller and ensure the machine can be transferred into your name.
Research: Do your homework on the machine’s condition and usability in your region. Reference emissions labels and usage hours for a successful purchase. If you are exporting the equipment to a different country, make sure you know that you can move it to and operate it in your market. Also, be aware of any import duties that can arise depending on the country of origin of the machine, including the engine, i.e. where they were manufactured.
Support and Credibility: Check if the auction company offers before/after auction support (i.e. viewing and loading services) and investigate their reviews and history. This will inform how well they serve their customers, especially when problems arise.
(Pre)register: Check logistics ahead of time. Some companies require preregistration before the event, and some will allow you to sign up on the day of bidding.
Bid on the best used heavy equipment for auction
Auctions can be a powerful tool for both buyers and sellers. At Fused, we aspire to find you the right machine at the right price, whether that’s through our online timed auctions or make offer listings.
Check out the latest auction listings and our auction FAQs.
