As 2012 draws to a close, many construction companies are looking to 2013 with hope. The industry has improved markedly in the past year. For example, construction spending in October surpassed projections of a 0.5 percent increase, instead growing an impressive 1.4 percent month-over-month, according to Bloomberg Businessweek. This drove the annual rate of spending up to about $872 billion, marking the highest level since September 2009. Experts are projecting the growth will continue gradually in 2013, making the new year a good time to buy and sell used construction equipment.

This week, there are so many items available in the Featured Auction that IronPlanet has extended the sale an extra day. The auction will begin on Wednesday, December 12 and continue through Thursday. Interested buyers may want to head to the online auction site to browse through more than 1,200 listings for used construction equipment, agriculture equipment, tools, parts, trucks and more. This will give them a chance to find the goods they need ahead of the sale so they are ready to bid. Here are a few highlights from this week's sale.

On November 8, the Association of Equipment Manufacturers Political Action Committee (AEMPAC) hosted its annual Academy Awards Night Gala at the Terranea Resort near Los Angeles, Calif. IronPlanet's Ron McClain volunteered his services to help the committee raise over $71,000 in ticket and auction sales. The live auction featured items donated by Association of Equipment Manufacturers (AEM) members.

IronPlanet®, a leading online marketplace for used heavy equipment, will host an online auction Dec. 5, at www.ironplanet.com, featuring over 200 items being liquidated by the Utah division of Western States Contracting of Myton, Utah.

The auction includes late model equipment commonly used in the oil and gas, land development, pipeline and other heavy construction industries. Large dozers from Caterpillar and Komatsu will be auctioned, in addition to Tesmec trenchers and motor graders from Caterpillar and Volvo. Excavators and wheel loaders form Caterpillar and Komatsu, off-road trucks and a variety of attachments and accessories are available as well.

In addition to construction equipment and agriculture equipment, IronPlanet also auctions used trucks, including heavy duty pickups, dump trucks, flatbeds, tractors, cabs and service trucks. There are steps you should take to prepare your used trucks for auction that can increase their resale value and help ensure that they attract bidders. Remember, the more buyers who want your truck, the better your chances of bidding wars that will drive the final sale price up.

The construction industry has seen marked improvements since the recession, with more new housing starts and other projects being reported every month. While this is a boon for construction companies, many businesses may still be looking for ways to maximize profits while they rebuild. Businesses in need of equipment such as forklifts, cranes, excavators and backhoes, or replacement parts to keep the machinery they already have in working order, may want to consider checking out the used market at IronPlanet.

When it comes to selling used agriculture equipment and construction equipment, it takes more than posting a listing on IronPlanet's website to get the job done. Having pictures and an official inspection report certainly increase the odds of selling an item, but if no one knows it's available the chance of getting bidders interested is much slimmer. In order to ensure the right buyers know an item they might be interested in is available, IronPlanet has a number of marketing strategies in place to reach a global audience.

The American economy has emerged from the recession, yet when the nation as a whole is on the mend, the recovery is slow-going for many. The construction industry has seen increases in new housing starts and the development of business and government construction projects, which has improved conditions for plenty of businesses and contractors. While new projects are coming in, many companies may still be recovering financially. Those that are in need of construction equipment to complete new jobs may want to consider buying used equipment.

When an IronPlanet user needs construction equipment or agriculture equipment, they can place bids on auctions ending on any given day, giving them flexibility. Depending on which auction listing a user wants, there are many ways for users to place bids.
Priority Bids
When a buyer cannot be online during an auction, they are able to place a Priority Bid ahead of time. This allows them to make an offer on an item during a preview, and place a maximum bid at the beginning of the auction, so they do not have to monitor the sale to the end. They can enter the maximum amount of money they are willing to spend, and IronPlanet will automatically keep them in the lead unless they are outbid by another user. Should another user enter a bid that matches the maximum Priority Bid during the live auction, the Priority Bid will be kept in the lead, since it was placed first.

IronPlanet will host its weekly Featured Auction on Thursday, November 1, and this week's sale has more than 850 items available to bidders. Those in need of drill, bore and trench equipment may want to check out the listings, as there are many options for these items in this sale, including road plates, trench shields and multiple lots of drill rods. The Featured Auction includes many other items, from construction equipment such as excavators and skid steer loaders to vehicles such as dump trucks and tractor trailers. With less than 24 hours until the auction begins, it can be a good idea for interested buyers to check out the offerings, so they are prepared to bid when the goods they want reach the auction block.