If you are making a purchase online or from a reputable seller and auctions, make sure you have some kind of recourse if the equipment arrives in a condition that differs from the image presented online, or if the equipment doesn't arrive at all. Check the terms of any online transaction before you buy and look for websites that have a secure escrow process. With each purchase you make, ask for a receipt, invoice or other documentation naming you as the owner of the equipment. If you are buying from a private seller, try to avoid paying in cash. Pay by certified check and leave a paper trail that can help prove you paid for the item. When it comes to heavy earthmoving equipment’s, the goliaths used in mining dwarf even some of the biggest machines seen on the average construction site.
Biggest earthmoving equipment’s and what they are used for:
- Rock trucks are used in mining to transport large amounts of material such as dirt, rocks, and coal across construction sites, gravel pits, and in open-pit mines. Even when empty these trucks are too heavy for public roads.
- Wheel loaders, also known as front end loaders or bucket loaders, are one of the most widely used machines in mining and construction today for earth moving, material handling, and digging. A type of hydraulic excavator, the front shovel’s main purpose is to move earth for heavy mining applications. Front shovels dig above track level in an upward motion to excavate heavily compacted dirt and rocks.
- Bulldozers (known also as crawler tractors) are large earthmoving machines designed with tracks to allow them to traverse moist ground like soil, snow, or mud, making them ideal for mining applications.
Inspecting the equipment on your shortlist is a very important step before bidding at industrial equipment auctions. Such an action allows you to assess the equipment to establish whether it meets your needs and won’t see you overshooting your budget in one way or the other. If you don’t not possess the required knowledge for you to assess the equipment or can’t be available, you can hire the professional pre-purchase inspection services. Usually, earthmoving auctions are strictly unreserved. That means there are no minimum bids or reserve prices and sellers can’t bid on or buy back their own equipment. Most earthmoving auctions, every item sells to a new owner for its true market value on auction day.
If you’re working with a fixed budget and want to give yourself some breathing room, most auction companies offer flexible financing and leasing options. And unlike banks, which likely don’t understand the value of equipment, may not offer financing, or require full details of items you haven’t bought yet, equipment auction companies can pre-approve you for full financing and tailor plans based on your business needs. Set a maximum you're willing to pay for each item of interest, and then stick to it. It’s all too easy to get caught up in auction and bid far more than you intended. If you doubt your willpower, attend with a friend so you can keep each other accountable.
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