Maximizing The Value, Marketability Of Used Rigs

By Jeff Griffin, Senior Editor | June 2009 Vol. 64 No. 6

Consider who is selling the unit, Martin advises.

"Major sources of used machines include owners, dealerships and brokerage firms," he explained. "Each has its advantages and disadvantages, but the common string between all of them is the fact that the buyer needs to ensure whoever is selling the unit has a good reputation and knowledgeable staff willing to work you though the process.”

Dave Douglas, manager of the Canadian pipeline division of Ritchie Bros. Auctioneers, says the current market for good quality HDD equipment today is strong, but that there are not a lot of used rigs available for purchase. Ritchie Bros. is the world's largest auctioneer of used industrial equipment.

"It is easier to find smaller used HDD models," he says. "The larger and more unique ones are harder to find. Over time, newer machines offer better performance and technology, improving the useful life of HDD machines. These days, used HDD equipment is very useful and a good quality piece of equipment could last quite some time."

Douglas believes one of the most important factors in selecting a used drill unit is to match it to the jobs on which it will be used. The geographical location where it will be used is another consideration, as well as the costs for transporting the equipment.

"Size, push/pull capacity, pumps, hours, and general condition clearly are very important in the decision to purchase a HDD machine," he adds.

Douglas says preparing an HDD unit for sale is much the same as preparing a crawler tractor for an auction. Repairing and refurbishing to an acceptable level is very important, and the consigner should provide copies of all work orders available for potential buyers to inspect.

FOR MORE INFO:
HDDBroker, (866) 960-3331, www.hddbroker.com
Ritchie Bros. Auctioneers, USA (800) 663-8457, Canada (800) 663-1739, www.rbauction.com
American Augers, (800) 324-4930, www.americanaugers.com
Vermeer Midwest (Chicago branch), (630) 820-3030
Ditch Witch of Oklahoma, (888) 418-5316, www.ditchwitchok.com