MYCRANE, the global online crane rental platform, has introduced a new Auction feature aimed at increasing transparency, speeding up rentals, and providing better value for customers and suppliers.
The MYCRANE Auction supports various formats including reverse auctions, forward auctions, and sprint auctions. Reverse auctions, where suppliers compete by lowering their bids, are expected to be the most popular, especially for urgent or high-value rental jobs.
Accessible through the main MYCRANE platform, users can receive live bids from verified equipment providers in real time. This bidding process helps customers save 10–20% on rental costs and can cut procurement times by up to 60%, according to MYCRANE.
Founder and CEO Andrei Geikalo said the auction feature offers “complete visibility of supplier pricing in real time” and levels the playing field for suppliers.
Customers gain greater control over timing and scope, can compare offers side-by-side, and make more informed decisions through a transparent bidding interface. Verified suppliers can join auctions directly or be invited to bid against offline quotes.
Initially available for crane rentals, the auction tool will soon include transport services. Suppliers will be able to create auctions to find transport providers for moving cranes or boom lifts.
Geikalo added the tool helps suppliers win more jobs, reduce negotiation time, and access high-value opportunities while ensuring fair competition based on service, availability, and pricing.
Similar reverse auction tools in industries like heavy equipment and industrial services have delivered typical cost savings of 10–15%, faster sourcing, and increased transparency.
Using MYCRANE Auction is optional and expected to be used in about 20–30% of transactions where speed, complexity, or cost control are critical.
