The 10 Most Popular Heavy Equipment Auctions
Heavy equipment auctions are a focal point in the construction and agricultural industries, offering a unique opportunity to purchase heavy construction equipment or farm equipment at competitive prices. These auctions combine various manufacturers’ equipment including excavators, crawler tractors, dozers, backhoes, and more. They serve as a marketplace for business owners, dealers, and individual buyers looking to expand their fleet, replace outdated machinery, or capitalize on unique finds.
These auction events occur as online auctions and in person, offering a flexible buying environment accommodating a broad spectrum of buyers. They attract a global audience, enabling a diverse range of equipment to move across geographical boundaries and into the hands of those who need them. The appeal of heavy equipment auctions lies in their unpredictability with the potential for bidders to land high-quality machinery at a fraction of its retail price.
Here are the 10 most popular heavy equipment auction companies including the types of available equipment, registration costs, and relevant background information on each of them. We’ll start with the world’s leading heavy equipment marketplace.
Ritchie Bros. Auctioneers
Headquartered in Canada since 1958, Ritchie Bros. Auctioneers is a world-renowned industrial asset disposition company known primarily for its live auctions of heavy machinery and equipment. Ritchie Bros has earned a prominent position in the heavy equipment auction industry with 2,200 full-time employees worldwide and 40 permanent auction sites in North America, Europe, the Middle East, Asia, and Australia.
Ritchie Bros.’ auctions draw a diverse global audience of potential buyers each year thanks to their significant digital presence and online bidding options. They offer various services for sellers, including market analysis, equipment refurbishing, and targeted marketing to attract the right buyers. These auctions are unreserved, meaning there are no minimum bids or reserve prices, and items are sold to the highest bidder on auction day. Registration to bid is free. Buyers pay a transaction fee based on the auction’s location and size of the lot. The online calendar is helpful for planning your sale based on upcoming auction dates.
Auction Time
Auction Time is a renowned online auction platform primarily designed for buying and selling heavy equipment, commercial trucks, and agricultural machinery. Offering a streamlined and transparent process, Auction Time allows sellers to list their equipment and potential buyers to place bids, all within an easy-to-navigate interface. Each item listed goes through a week-long auction, ensuring ample time for bidders to research and make informed decisions.
One of the distinguishing features of Auction Time is its real-time bidding format. Unlike other platforms, Auction Time starts its auctions on Tuesdays and concludes on Wednesdays and Thursdays, allowing bidders to compete live. Furthermore, the platform has a broad global reach, enabling sellers to connect with international buyers, increasing their equipment’s visibility and potential market.
Bidders will find heavy construction equipment from major brands like Caterpillar, Komatsu, Case, John Deere, Volvo, Bobcat, Hitachi, Grove, Terex, Doosan, etc. Bidding is free, and a buyer’s premium of 15% (reduced to 12% for cash payments made within the first 7 days after the auction) is added to the bid amount.
Proxibid
Proxibid is a leading online platform bringing together over 4,000 auctioneers, asset owners, and consignors with buyers from 190 countries. Headquartered in Omaha, Nebraska, Proxibid’s marketplace hosts auctions in numerous categories such as heavy equipment, industrial machinery, and real estate, providing sellers and buyers with a versatile and secure bidding environment. This platform combines technology, auctioneering experience, and customer service, making it an excellent choice for buying and selling high-value items. They provide live auction webcasting services, which allows potential bidders to place their bids in real-time from anywhere globally.
One of the distinctive features of Proxibid is its commitment to providing a secure online auction environment. The platform is designed with sophisticated fraud prevention and risk management systems, ensuring the integrity of each transaction. Furthermore, Proxibid offers a buyer protection program, the “Proxibid Promise,” offering added security to its customers. Because Proxibid charges a fee to sell on its platform, they allow sellers to pass this cost to buyers in the form of a Buyer’s Premium.
IronPlanet
IronPlanet, owned by Ritchie Bros., provides unreserved onsite auctions, online weekly auctions, and additional marketplaces for selling and buying equipment. Widely recognized for its user-friendly platform and comprehensive inspection services, they have grown to serve customers globally in the construction, agriculture, and transportation industries. Initially founded in the U.S. in 1999, IronPlanet is a leading online marketplace for purchasing and selling heavy equipment with a database of over 1.8 million registered users.
Potential buyers can bid on various machinery through competitive auctions, from excavators and bulldozers to agricultural tractors and cranes. Registering and participating in auctions are free. However, the buyer must pay a transaction fee for each item won in an IronPlanet auction. The fee amount is based on the final selling price and is detailed on each item’s payment tab of the listing page.
One key aspect that sets IronPlanet apart from its competitors is its commitment to transparency and customer satisfaction. Before every auction, each piece of equipment undergoes a meticulous inspection, with detailed reports readily available to prospective buyers. This process ensures that buyers thoroughly understand the equipment’s condition before purchasing.
Equippo
Equippo, headquartered in Switzerland with offices throughout Europe, provides a platform where buyers and sellers from around the globe connect to trade used heavy equipment. Founded in 2014, Equippo’s international team provides a straightforward one-stop solution for buying and selling heavy equipment including excavators, loaders, trucks, flatbeds, and more. Equippo offers companies an efficient way to buy and sell equipment with its user-friendly interface and customer service guarantees. Although registering for an auction is free, Equippo’s buyer’s fee is 12% of the selling price.
Equippo offers a “Money Back Guarantee,” ensuring buyers can return the equipment if it does not match the description. With inspection reports and secured payments, they have created a transparent bidding process that makes it a trusted site for equipment trading.
bidadoo
As eBay’s leading online capital assets auction company, Bidadoo provides a seamless and transparent buying and selling experience for businesses across the globe. Headquartered near Seattle, Washington, Bidadoo has over 20 years of experience remarketing construction equipment, rental fleets, trucks, and other equipment sales.
The core of Bidadoo’s success lies in its customer-centric approach. By offering comprehensive, professional, and detailed inspection reports and videos, they give potential buyers confidence in the condition and history of the equipment. Furthermore, their end-to-end transaction management ensures they efficiently address concerns or queries. The result is an auction experience that prioritizes transparency, reliability, and customer satisfaction.
Bidadoo does not charge a buyer’s premium but does charge to appraise, palletize, and ship sold items.
Alex Lyon & Son
Alex Lyon & Son facilitates purchasing and selling heavy machinery, construction equipment, and other commercial assets. Founded in 1950 and headquartered near Syracuse, NY, the company has grown into a well-respected brand, hosting numerous live and online auctions throughout the year. With a promise to “never turn down consignment sales with contractors,” they have built a reputation for being trustworthy, reliable, and dedicated to their customer’s needs, ensuring a fair and transparent auction process.
A diverse selection of equipment is available in their auctions, from earthmoving machines to commercial vehicles. They meticulously inspect each piece of equipment, ensuring buyers receive high-quality, functional assets. They charge an administration fee that ranges from 6% to 15.5%, depending on the sale amount and payment method. Alex Lyon & Son’s unique blend of professionalism, extensive experience, and dedication to customer satisfaction has positioned them as one of the leaders in the auction industry.
Absolute Auction and Realty
Absolute Auction and Realty is a well-established company with a reputation for excellence in the auction and realty industry. Founded in 1946 and headquartered in Pleasant Valley, NY, the firm has built a solid foundation of trust and reliability by providing comprehensive auction and realty services for a broad range of clients. The company offers a broad range of auction services in real estate, vehicles, and equipment including dump trucks, pickups, and commercial vehicles.
Absolute Auctions & Realty utilizes both online and in-person auctions, offering a seamless experience for buyers and sellers alike. With their team of experienced professionals, Absolute Auction and Realty guides clients through every step of the auction process ensuring a thorough and efficient transaction. They charge a 13.5% standard buyer’s premium at the Absolute Auction Center and most on-site auctions, with a 3.5% cash and check payments discount.
BigIron Auctions
BigIron Auctions is a leading online auction platform selling used agricultural, construction, and transportation equipment. Founded by Ron and Mark Stock in 2009, this Nebraska-based company has consistently provided a comprehensive and secure marketplace for buyers and sellers. BigIron emphasizes transparency, allowing potential buyers to contact sellers directly for detailed information about the items listed for auction.
The company’s commitment to honesty and its innovative use of technology has earned it a well-deserved reputation in the industry. BigIron Auctions has successfully transitioned the traditionally in-person auction process to a reliable online platform, offering a wide range of items from skid steers and wheel loaders to semis and trailers. Through its regular weekly auctions, BigIron connects a diverse network of buyers and sellers, fostering an ever-evolving marketplace. BigIron Auctions does not charge a buyer’s premium.
Purple Wave Auction
Purple Wave Auction is a full-service auction company specializing in selling equipment, vehicles, and real estate through no-reserve, internet-based auctions. Established in 2000, this Kansas-based company has built a reputation for its transparent, efficient, and easy-to-use service, where items are sold to the highest bidder, regardless of the price.
One of Purple Wave Auction’s distinctive attributes is its dedication to leveraging technology to enhance the auction experience. The company’s online platform allows bidders worldwide to participate in auctions, thus widening the market and increasing competition. Furthermore, the platform also provides detailed descriptions and high-quality photographs of the items for sale. Purple Wave adds a 10% buyer’s premium to all winning bids.
Choosing the Heavy Equipment Auction That’s Best for Your Business
Selecting a reputable heavy equipment auction can be a strategic move for businesses aiming to acquire or sell machinery at competitive prices. It’s crucial to consider factors such as the auctioneer’s experience, equipment range, and the bidding process’s transparency. A well-informed decision helps ensure the seller receives a fair price while offering significant cost savings for the buyer—thoroughly researching and selecting the right auction platform is not a step you want to skip!
Understanding what happens to the equipment after the sale is also important. Some auction companies offer inclusive door-to-door services, while others require the the buyer and/or seller to be responsible for the transportation of the equipment.
If your equipment purchase requires transportation, we can help! Titan Worldwide is a heavy hauling specialist with an expert team standing ready to help with your logistics needs. Learn More
