An online Auction Platform like no other
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An Online equipment auction platform has arrived to put you -
the seller - and your buyers together in one safe environment. Your yard.

GET STARTED, ITS FREE

Introducing B2B -Auctions

Unlike traditional auctions, Krank doesn’t take a cut of each sale. Because of this, Krank is just as interested in achieving the best sale price for the smallest item being traded on your auction platform as it is your largest. Krank is a facilitator of the deal, rather than a player in the process, meaning there are no brokerage conflicts in our business model.

  • Inspection
  • Compliance
  • Documentation
  • Payment Terms
  • Delivery Terms

At your desk or
On the go!

Whether you’re a desk jockey or road warrior, Krank’s integrated platform and app solutions ensure that you’re able to stay connected and manage your transactions from wherever you are.

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Features that Put you in control

This is your platform and private marketplace for asset management, designed and built
with features that put you in complete control.

Reserve or No Reserve

Choosing to host an auction with or without a reserve price provides you with flexibility and total
control, on your terms. Both options allow you to set your opening-bid prices and auction-start
dates. You can edit your opening-bid prices at any time before bidding starts.

Multiple Privacy Options

With multiple privacy options you can choose to advertize your auction listings on Krank’s public
marketplace or to a bespoke audience of buyers, through selected networks or groups of networks.

Hit The Bid

By switching on your HIT THE BID function, you’ll be able to accept the highest bid at any time during
your 30 day auction cycle. The remaining auction time will automatically drop to 24 hours. All
bidders will be notified and will have to bid up to stay in the bidding.

Seller Declaration & Purchase Contracts

We provide editable seller declaration and purchase contract templates. These clearly establish
your authority to sell and your terms to ensure everyone is on the same page at auction time.

Core Privacy

Krank’s privacy policy forbids the sale of your data to any 3rd party.

It’s your equipment that’s for sale-not your data. PRIVACY POLICY

The Win Win for Buyers & Sellers

Whether selling high-ticket items or smaller spare parts and attachments, a clear understanding
of the sales process and the constant need to search for the ‘win-win’ is welded
into the seems of the platform.

Krank’s ethos is simple:

Put the seller in control of the auction/sale.
Provide essential transparency and security to the buyer.
Help create a clear pathway to value on both sides of the trade.

Zero Commissions

B2B Auctions are a premium service payable through a
monthly subscription, with no other commissions or
fees to pay.

Sell To Who You Know

Networking with each bidder before they can bid
eliminates compliance risk, allowing you to know your
buyer and set your terms of sale.

No Buyer Fees

Your auction-your buyers. Removing the buyer fee pricing
model removes one more barrier to entry and encourages
more buyers to come in.

Buy Directly From The Owner

Buyers are able to inspect items at the seller’s yard and
meet with the owners before deciding to bid.

A driver for growth

COMPANY-TO-COMPANY PRIVATE NETWORKING

Krank’s unique private networking solution dictates that every new bidder must first send you a network request, before being allowed to bid on your items. With each bidder now in a new, private network with your company, your sales funnel is fully primed e.g. If you have 10 bidders, you can only sell to one which leaves 9 unsuccessful bidders and potentially unfilled orders for your sales teams to target. As bidders are only privately networked with you, they can’t see each other.

Simple and secure lead generation potential which drives growth!

WHAT ARE MY PRIVATE NETWORKS?

Krank is your communication tool designed to maximize your industry connections and the combined networking effect of all of your company employees.

You can create multiple-private networks with all of your customers and suppliers, with each one containing your company and one other customer or supplier only.

Once networked, employees of each company can connect, share product updates, news and listings in total privacy. Employees can also invite ‘private connections’ that won’t be visible to anyone else.

“Designed For
Heavy Industry,
Built For Success”

In the construction equipment industry nothing beats face-to-face and trust. By hosting your auctions on Krank you’re able to meet every bidder in person before bidding commences. That’s your opportunity to both ‘upsell’ your items and to start earning the trust of your new customers-essential when inviting potential buyers to bid on expensive equipment, niche parts and attachments.

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Time to Pick Up The Gavel

CONVERT

Convert your regular sale or
rental listings to auction
listings using the simple
Online wizard

SET

Set your hidden reserve or
estimate prices, at a level
you’re comfortable with and
enable ‘hit the bid’ for
greater control

INVITE

Invite your connections and
customers to come and bid.
Advertize on your social
networks and other channels.
Maximize your potential
for success

LAUNCH

Launch when you’re ready, post your listing and monitor
the bidding.
You’re in control

It’s time to boost your sales!

Simple steps to host your first auction on Krank

  1. Register with your business email address. If you don’t have a business email, you’ll need an invitation from an existing business on Krank
  2. Create your company and personal profiles
  3. Start creating your rent and sale listings and choose which to convert into an auction or create an auction from scratch
  4. Complete the set-up wizard, choose between hosting a reserve or no-reserve price auction and select an auction start-date to allow yourself enough time to market your auction
  5. Advertize and market your auction to your customers and the public via email, social media and on krank’s public marketplace
GET STARTED

Frequently Asked questions?

  • 1. Are Krank auctions commission free?

    Yes, Krank is not involved in your deal flow whatsoever. Every auction will be commission free and, in addition will have no buyer fees. Your bidders will only need to be approved by you before they can bid on your items, with no other barriers to entry.

  • 2. How does Krank make money?

    Krank’s auction module will be part of a premium service provided to premium account users.

  • 3. Which type of auctions can I host on Krank?

    Krank gives you the option to host either; ‘reserve’ price auctions and to determine the reserve (minimum) price you are willing to sell your item at, or to host a ‘no-reserve’ price auction which means that you simply commit to selling your item to the highest bidder without any minimum or
    reserve price.

  • 4. Can bidders on my auction see each other?

    No, only you can see who is bidding in your auction. Each of the bidders are unable to see each other (even if they might be networked with each other independently of you).

  • 5. Do I have privacy controls for my auctions and decide who can
    bid in them?

    Yes, when creating your auctions, you’ll be able to select from various privacy options and decide who can see them. If you want your auctions to be visible to everyone, you can simply select the ‘Show & Share’ privacy. If a bidder registers to bid on your auction but you would prefer them not to, you’ll be able to block them as a bidder – as long as they have not placed a bid up until that point.

  • 6. Who owns the bidder data in my auction?

    Unlike traditional auctions where bidder data belongs to the auctioneers, Krank’s owner-auctions work only by potential bidders connecting and networking with you and your company first - ‘before’ being allowed to bid on your items. This not only means that you build your business networks, potentially with every auction but it also importantly means that you know who you’re selling to, and your buyers know who they’re buying from.

  • 7. How long does each auction listing run for?

    Each auction listing runs for 30 days and can be extended by the seller if it remains ‘unsold’.

  • 8. If I want to end my auction earlier than 30 days, can I do that?

    Krank’s proprietary ‘HIT THE BID’ technology allows you to accept the highest bid at any time during auction regardless of the time left in the 30-day cycle. Once you ‘hit the bid’ each bidder will be notified that you’ve done so at the last, highest bid received. (This means that you’re willing to sell to the last bidder for that price, if no other bids are received.) All bidders will then be notified that your auction will expire within the next 24 hours and encouraged to carry on bidding if they’d like to. The auction will finally end at the highest price once bidding stops.

  • 9. How can I email and let my customers know about my auction?

    Once you’ve created your listing, you’ll be able to share it across all of your social media platforms, advertise it on Krank’s public auction marketplace as well as emailing the link. To do this, you’ll click on the copy link button in the share options, paste the link into your email body copy and broadcast it out to your email database. Your customers will click on the link and be taken straight to your listing.

  • 10. Do my customers have to register on Krank before being able
    to bid and how much will that cost?

    Yes, your customers must first register and create an account on Krank before being able to bid on your auction. If they are registering through an invitation you’ve sent them, they’ll be automatically connected with you and privately networked with your company. Anyone can register on Krank for free and they will not need to have a premium account to bid on auctions.