It's so easy with Krank, search specifics, or browse and enquire. If you select a piece of equipment, our AI powered listing bot will also recommend other similar equipment that may be of interest to you.

Once you’ve found the equipment you’re interested in, it’s a simple click to connect (and network) with the seller directly.

Once accepted, you’ll then be asked to register to bid. Fill in a few simple details (for compliance and security), and you are ready to go.

Now you are directly connected with the seller, you can request an inspection date. Choose to go yourself and/or send a qualified equipment inspector to assess and report on your behalf.

Take the time to inspect the equipment thoroughly. Inquire with the seller about the full provenance of the equipment and review the documentation. Ask any other questions you’d like to satisfy yourself, so you are confident in your bid approach, prior to bidding on auction day.

Once you’ve been registered to bid, you’ll be asked to sign the seller’s T&Cs and purchase contract.

These are important documents, and we advise you to read through them carefully, revert with any questions and ensure you’re ready to comply with the seller’s terms before bidding in their auction.

Once you’ve been accepted to bid and have completed your documentation (please note, that all bids are binding on the buyers), you’ll need to ensure you have adequate equipment finance in place to complete your purchases.

It is important to agree, in advance, who is responsible for each part of the transportation process (seller or buyer), before you bid, so you can factor in these specific costs. Make sure you also review, fully understand and comply with the seller’s purchase contract.

You know the seller, you know the auction time, you have everything in place. If you need to familiarize yourself fully with the process before taking part, read through our best practices, practice with our demo auction, and get some expert tutorials and tips by reaching out to a member of our team.

Now it’s time to put your bid strategy into action, join the video event, turn on your autobid settings, or get involved and bid along instantly with the live video auctioneer.

Regardless of the KYC (Know Your Customer) process you went through; signed documentation, and/or taking a bid deposit, there may be a rare occasion that a buyer bids by mistake, changes their minds on the sale, or worse just decides not to pay. This is known as a ‘collapsed sale’.

In the unlikely event of a collapsed sale during a live auction, you have the ability to instantly choose to rerun the lot, or save details for a future event.

If this happens post sale, although it may be frustrating, remember, you have complete control and ‘nothing will leave your yard until it’s paid for’. You can simply rerun the lot in your next planned live auction event.

Everyone is always looking for a competitive advantage, the magic sauce, and we firmly believe that with Krank, this exists in the powerful, actionable post-sale analysis and insight provided to you once your auction has finished.

During the auction event itself each buyer is assigned their own bidder number. We do this for several reasons, importantly it’s an essential compliance procedure that protects the identification of each bidder. This brings veracity and credibility to your event, protecting both buyer and seller, preventing sale manipulation, buy-backs, other rogue practices.

However, it also has another positive advantage, once the sale is over you will be able to analyse each bidder. You can identify them, see how they performed, which types of equipment they were interestd in, their price sensitivity, i.e. at which point did they stop bidding (if they were runner up bidders) and a multitude of other key behavioural factors.

So, you sold your piece of equipment for $50,000 to one bidder, awesome, but you also had nine other, high-intent bidders who went away empty handed. These unsuccessful bidders are now instantly in your sales funnel, ready for your sales team to follow up with, making Krank an incredible sales lead generation tool.

Service / Maintenance Records

It is essential to get the seller to take you through the complete and up-to-date Service/Maintenance records of the equipment you are considering bidding on. Common documentation can include O&M Manuals, electrical certifications and vehicle/fleet maintenance schedules.

You should examine the records carefully. Pay particular attention to key areas that can significantly affect longevity of equipment, such as the regularity of oil, transmission fluids, and replacement filters.

If you are unsure, ask the seller to provide further details, or consider getting the records checked and verified by an independent expert.

Engine Hours

It is important to inspect and verify the engine hours. They should tally with the lot details the seller has provided. If there appear to be any discrepencies, challenge the seller for an explanation.

If the equipment is showing unusually high engine hours compared with its age or usage, you should pay careful attention to the servicing schedule, and inquire further with the seller about its overall performance and wear and tear.

Consider checking with the manufacturer, find out the average expected lifespan of the particular engine. If it is getting close to the expectation you may want to budget for an engine refurbishment and/or replacement into your bid.

Engine Exhaust

A full and thorough examination of the exhaust system is essential. Insist the seller starts up the equipment, as this can provide some instant feedback on its current condition, and a great indication of how well the equipment has been maintained.

Vibrating, rattling and unusual sounds and smells are a key indicator to inspect further. Smoke of differing colours; white, black and blue for example can signify a range of potential issues from the simple to fix, worn seals or dirty air intake filters, to more significant potential issues such as a faulty head gasket. Discolouration in any part of the exhaust system is a telltale sign of a leak, which would certainly warrant further investigation.

Fluid levels and quality

Checking the levels, quality and clarity of the equipments oils, lubricants, coolants, and transmission fluids gives a good indication of the condition of the equipment and the regularity of service and maintence.

Good to check the fluid levels tally with the service and maintenance records, and if futher inquiries need to be made with the seller.

Wear and Tear

General wear and tear is to be expected when purchasing used equipment. What you are looking for are things that could affect your bid budget. Bring along additional lighting and take the time and effort to inspect more difficult to reach areas such as the undercarriage and photograph any areas of concern.

Equipment consumables, such as oils, lubricants, coolants and of course tyres, are goods that need to be regularly replaced because they wear out or are used up, therefore assess where they are in their lifecycle and adjust your bid accordingly.

Other things to add to the checklist, and may require repair include, superficial damage, rust or discolouration, cracks and the condition of any filters.

Overview - what to consider...

Finance houses offer many forms of asset financing, in the form of installment credit, from hire purchase, to operating and finance leasing.

Operating leases are usually longer term and often offer the possibility to purchase the asset at the end of the lease.

Hire Purchase is often considered shorter term, and best suited to equipment that you plan to replace at the end of the lease period.

A finance lease enables you (the borrower) to rent the asset for a portion of the equipment’s life.

We recommend finding a specialist in commercial equipment who will tailor a solution to your specific requirements, and understand the tax efficiencies and cashflow considerations for your business.

Overview - what to consider...

Freight transport is the physical process of transporting the equipment between the seller and the buyer. This process could involve, haulage, handling, warehousing and shipping, with each having an associated cost.

It is important to agree, in advance, who is responsible for each part (seller or buyer), before you bid, so you can factor in these specific costs.

Particular care should be taken to understand who is responsible for in-transit insurance, cross border paperwork including customs clearance and any applicable duties and/or legal requirements.

Transit times can vary between hours, days or weeks depending on geography and distance, so we recommend agreeing a timeframe for delivery as part of the pre-sale agreement.