Rough economic times are not slowing auctions of heavy equipment. CNN Money reports that the demand for heavy equipment is strong worldwide, with equipment sold at auctions traveling to buyers across the globe.
Auction companes like Ritchie Bros. Auctioneers and Iron Planet are doing well in a challenging economy. One piece of equipment can sell as fast as 45 seconds during an auction.
Equipment companies in the United States also buy used equipment, finding bargains that expand their business.