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Participating in Used Excavator Auctions: Benefits and Considerations

2 Views Aug 11,2023

Used excavator auctionshave become a popular procurement method for contractors seeking to obtain equipment at attractive pricing. Compared to traditional private sales or dealerships, auctions provide some unique advantages, but also require careful strategy and caution from bidders.

A major benefit of excavator auctions is the potential to achieve significant savings versus other used equipment channels. With multiple bidders competing, prices can be driven down below market rates. Contractors on tight budgets can get quality used excavators at bargain prices. The auction setting also allows bidders to quickly survey and compare multiple available machines side-by-side.
Additionally, excavator auctions tend to have a consistent influx of new inventory. As contractors and leasing companies rotate equipment, auction houses regularly get supplied with new trade-ins and off-lease excavators. This gives bidders regular opportunities to acquire late model excavators in good condition.
However, participating in auctions also poses risks. Bidders need to thoroughly inspect machines ahead of time, which is not always possible if the equipment is off-site. There is also timing unpredictability on when specific excavators will be available. And in the competitive auction setting, bidders can get emotionally carried away and end up overpaying.
In summary, excavator auctions allow buyers to find great deals, but require thoughtful strategies. Inspecting equipment thoroughly, setting bidding limits, and avoiding getting caught up in bidding wars are key. When approached carefully, excavator auctions provide an excellent procurement method for contractors looking to save money on quality used equipment.

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