31
APRIL 2014
ACT
AUCTIONS
INDUSTRY FOCUS
sold for $600,000 each at an auction in
Houston, TX inNovember 2013; a2013
Link-Belt 218HSLHylab110-ton self-
erecting crawler crane,whichwas sold at
aDenver, CO, auction inSeptember 2013
for $620,000; and a2013KobelcoCKL-
1000I 100-ton crawler crane that sold
for $575,000 at aDubai,ARE auction in
March2013.
As the 120 to300-ton crawler crane
has become a standard atmany jobsites
around theworld, craneowners are
turning to auctions as anoption to
acquirewellmaintained cranes for their
projects.
Asmany as 10years ago, craneowners
onlyhadoneoptionwhengoing to the
market to sell their crane assets: abroker.
This isno longer the case.Highquality
andwellmaintained cranes are standing
high at auctionyards all around theworld
thesedays.And individuals looking to
sell or purchase cranes areusing auctions
as an easy solution to access the global
heavy equipmentmarket and achieve
high returns on their assets or competitive
market valueonused cranes to fit their
annual project schedule.
The advantageof buying aused crane
depends on thepurpose that the crane
will serve in a company’s fleet. If the crane
is beingpurchased for a specific jobsite,
and if it is already configured to fit that
project’s specificneeds, theprice tag can
be significantly lower than that of anew
BIO
Stephen O’Duggan
is a regional sales
manager for Ritchie
Bros. Auctioneers.
Crane auction highlights from Ritchie Bros.
Auction in Orlando in February included a
70-ton capacity 2012 Terex RT670 rough
terrain crane that sold for $425,000 to a
buyer from Illinois.
crane. If you arepurchasing a crane for
your rental company, there is potential
for greater returnon equitywhenyou
purchase aused, yetwell-maintained,
crane.
RitchieBros.Auctioneers operates
in44 auction sitesworldwide.And, if
you’re in themarket for buying a crane,
don’t forget a very simple inspection rule
that I sharewith allmy customers and
followedmyself as a craneowner prior to
joiningRitchieBros.: Check to see that
theoperator’s cab is clean. If theperson
responsible for operating the cranekept a
cleanworkspace then it is very likely that
you are sitting in awell-maintained crane.
As of lateMarch, therewere 112 cranes
in theRitchieBros. equipment inventory
available atwww.rbauction.combeing
sold in anumber of upcomingunreserved
public auctionsworldwide.
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