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Elebbre’s month-long Krank marketplace tech-powered auction saw a host of records broken, compared to traditional sales channels, including:Seven-fold increase in website traffic, with bidders from over 75 countries.47% of lots sold above their reserve.Double the sales success ratio compared to a traditional auction.Latin American remarketing experts Elebbre’s recent online auction of used mining and construction equipment on behalf of global construction giant Bechtel has been given an enthusiastic vote of approval. The month-long auction – the largest 100% online auction to date in Latin America – was powered by UK SaaS technology company Krank’s marketplace platform. Using the Krank platform allowed Elebbre to manage the entire auction and sale process itself, rather than relying on the support (and associated costs) of third-party auction houses.The auction generated total sales revenues of $2.8 million and drew bidders from over 75 countries. Of the 152 lots put up for sale – which included dump trucks, boom trucks, cranes and excavators – almost half (47%) were sold, roughly double the sales ratio of a traditional auction. Unlike with traditional auctions, even when Elebbre’s 30-day sale was over – that wasn’t the end of proceedings. The use of vital runner up data – information that Elebbre wouldn’t have access to if it had used a traditional auction house – allowed it to sell a further 24 machines. ‘The Krank platform exceeded expectations. The auction performance was excellent and helped to maximize the value of our used equipment.’“In the past we used traditional methods, including third party auctions and direct sales for disposals of this kind,” said Elebbre’s Co-Founder and General Manager, Moisés Nunez. “But for a range of reasons – including cost, lack of sale data provided by third party auctions and the carbon footprint of moving machines to auction sites, we decided to take a different approach.”Streamlined processes“For this sale we were attracted to Krank's reputation of providing cutting-edge and efficient platforms for equipment disposal,” Nunez continues. “We expected Krank's platform to enhance our selling process by providing a user-friendly interface, and it did attract a broader range of buyers. In fact, the Krank platform exceeded our expectations. The auction performance was excellent and helped to maximize the value of our used equipment.”Benefits for both buyer and sellerFeedback from bidders was overwhelmingly positive. The user-friendly interface and transparent processes on Elebbre’s Krank-powered platform were both cited as making it easier for bidders to participate in the auction. From Elebbre’s perspective, the buyer data it captured is proving to be valuable for understanding market trends and buyer behavior, information it can leverage in future equipment transactions.Cost savings ‘substantial’“With no auctioneer fees to absorb, the cost savings are substantial compared to traditional methods,” continues Nunez. “Krank's auction platform also eliminated the need and associated costs of transporting equipment to physical auction sites. This contributed to a significantly reduced carbon footprint compared to traditional auctions.”Valuable equipment disposal tool“Our overall impression of using the Krank marketplace platform to sell equipment has been overwhelmingly positive,” concluded Nunez. “Its effectiveness, user satisfaction and the financial benefits it offers make it an invaluable tool for our equipment disposal needs.”Elebbre is now preparing for its next auction which it will be launching in December and closing 14th December 2023 – please find more details here: https://www.elebbre.com/ 

Global engineering, procurement and construction giant Bechtel chooses Latin American equipment remarketing experts Elebbre to manage major auction of its equipment from mega mines’ expansion and desalination plant construction – all underpinned by the latest auction technology from Krank.“The expansion of the world’s largest copper mine in northern Chile has prompted a renewal of a proportion of the mobile fleet based there, resulting in a surplus of used construction equipment for the mines’ expansion operators. The task of managing the sale of equipment such as dump trucks, boom trucks and cranes for one of the world’s top five construction companies – Bechtel – has fallen to Latin American equipment experts Elebbre. Access to high intent buyersThe sale of the machines is to be by auction with Elebbre adopting the latest online marketplace platform from UK SaaS provider Krank. Using the Krank platform means that Elebbre can manage the entire auction and sale process itself, rather than having to rely on the support of third-party auction houses. The platform connects construction industry peers by providing an innovative solution for building networks and connections, via which new and used equipment can be remarketed. Its platform is being used by major equipment OEMs, rental companies and others with equipment fleets, and gives users access to a network of high-intent buyers, which helps to convert into sales faster, with reduced costs and improved revenues.“The Krank platform has been customized to our needs and provides a seamless trading experience for ourselves as sellers, and for our buyers. It will be a key component in achieving favorable market prices for these assets, maximizing transparency in the negotiation process and accurately valuing assets, via certified inspection methodologies and reporting,” says Elebbre’s Co-Founder and General Manager, Moisés Nunez.“Elebbre has a strong reputation for using the most innovative thinking for the commercialization of equipment in Latin America; combining technology with extensive experience in the mining, agriculture and transport sectors,” says Krank founder and CEO Mark Turner. “It’s therefore no surprise that such a globally respected mining support giant such as Bechtel has entrusted the sale of its equipment to Elebbre. Adding in our platform to this mix allows Elebbre to independently trade heavy equipment under its own brand, run its own timed and live video auctions and facilitate greater customer engagement.”

The specific product segments such as mining, construction and material handling of technology company Liebherr is set to sell used machines, attachments and spare parts to customers via an all-new digital marketplace. The global trading platform is being developed in partnership with software-as-a-service provider Krank. Replacing an existing digital marketplace, the new solution will centralise the sale of Liebherr used mining, construction and material handling technology worldwide. Due to launch during the first quarter of 2023, the platform underlying the marketplace is being developed in close collaboration with UK software-as-a-service (SaaS) experts Krank.The new marketplace will be a Krank-developed platform that allows Liebherr sales partners worldwide to quickly and conveniently manage their used equipment sales processes – and market them online. It will cover the sale of used mining, earthmoving and material handling machines, mobile and crawler cranes, tower cranes, maritime cranes, concrete technology and corresponding used attachments and spare parts.Krank the ‘stand-out’ construction marketplace developerCommenting on the choice of Krank as its development partner, Daniel Hecker, Business Development Sales at Liebherr-EMtec GmbH said: “We were looking for an expert in creating marketplaces for used construction equipment – and Krank is the stand-out partner. With the relaunch of the marketplace, we will have a central platform for our global used equipment business. Customers will be able to independently search our virtual marketplace for the used equipment they need, while our sales partners will register and manage their used equipment via the platform and its associated apps.”“The marketplace will bring together on a single platform the entire supply and demand sides of our used equipment business,” Hecker continues. “It will have the ability to combine Liebherr’s strengths of personal advice and customer relationships with the much greater visibility a global digital marketplace offers.”Krank helps users keep control of process and dataKrank is a SaaS platform that provides a new way to remarket used equipment. Subscriber-branded (Liebherr in this case), it helps customers sell faster and improve revenues. UK headquartered, Krank enables customers to manage the sale process and keep direct control of their business network and data.Figure 1 Krank Founder Mark Turner (left) with Liebherr's Alexander Sattler, Head of Business Development Sales & ServiceKrank Enterprise leverages the network effect, so customers reach more high-intent buyers, convert faster, reduce conversion costs and improve sales revenues. With full end-to-end control over sales data – plus Krank’s built-in analysis, customer analytics and forecasting – customers can generate actionable insights and influence buyer behaviour.About the Liebherr GroupThe Liebherr Group is a family-run technology company with a highly diversified product portfolio. The company is one of the largest construction equipment manufacturers in the world. It also provides high-quality and user-oriented products and services in a wide range of other areas. The Liebherr Group includes over 140 companies across all continents. In 2020, it employed around 48,000 staff and achieved combined revenues of over 10.3 billion euros. Liebherr was founded in Kirchdorf an der Iller in Southern Germany in 1949. Since then, the employees have been pursuing the goal of achieving continuous technological innovation, and bringing industry-leading solutions to its customers.