Mycrane, the first global platform for online crane rental, has announced that it has launched a powerful new Mycrane Auction feature, designed to improve transparency, accelerate rentals and deliver greater value for both customers and suppliers.

The new tool, Mycrane Auction supports multiple auction types – including reverse auctions, forward auctions and sprint formats – giving customers full flexibility in how they engage with suppliers.

At launch, the reverse auction format is expected to be the most commonly used, particularly for high-value, urgent, or competitive rental jobs, said Mycrane.

Accessible via the main rental platform, the system enables users to receive live bids from verified equipment providers in real time. This dynamic bidding process not only helps customers achieve cost savings – often in the range of 10 to 20 per cent – but also reduces procurement timelines by as much as 60 per cent, according to Mycrane projections.

“From day one, Mycrane has sought to simplify and modernise the crane rental process,” said Andrei Geikalo, Mycrane founder and CEO. “With the introduction of our auction module, we’re taking another big step forward – offering customers complete visibility of supplier pricing in real time, while helping our partners compete on a level playing field.”

For customers, Mycrane Auction provides enhanced control over timing and scope, side-by-side comparison of all offers, and improved decision-making through a transparent bidding interface. Verified suppliers can compete either directly on the platform or, in cases where a quote has been submitted offline, be invited to join the auction and bid against other offers in real time, it stated.

While the module is initially available for crane rental jobs, it will soon be extended to include transport services, it added.

According to Mycrane, suppliers will have the option to initiate their own auctions – for example, to move cranes or boom lifts using qualified transport providers.

“Mycrane Auction removes uncertainty from the process,” noted Geikalo.

“For suppliers, it provides a transparent and efficient way to win more jobs, reduce time spent on negotiations, and gain access to high-value opportunities – all while ensuring they are competing fairly on the merits of their service, availability, and pricing. Soon, they’ll also be able to use the tool to arrange transport more efficiently,” he stated.

According to Mycrane, early adopters of reverse auction tools in other industries – such as heavy equipment, spare parts and industrial services – have consistently reported strong results. Cost savings of 10–15 per cent are typical, alongside greater supplier transparency and faster sourcing cycles, it stated. The feature is optional and can be used at the discretion of the customer.

Mycrane expects it will initially be used in around 20-30 per cent of all transactions, especially where speed, complexity or cost control are key factors.

Founded in 2021, Mycrane is headquartered in Dubai with regional operations in India, Saudi Arabia and the US. Since launch, the platform has attracted more than 1,700 registered crane rental companies offering in excess of 14,000 cranes, giving customers access to what is effectively the largest crane fleet in the world, says the company.

Mycrane was named Startup of the Year at the Construction Technology Awards, held  in Dubai recently.

The annual awards celebrate the most impactful digital transformation in the built environment across the Middle East and Africa, with entries evaluated for innovation, traction, scalability and benefit realisation.

The company received the award in recognition of its success in modernising the crane rental industry, delivering a platform that streamlines the procurement of lifting equipment and improves outcomes for both customers and equipment providers. It acknowledges the strength of the testimonials supplied by Mycrane’s global users and equipment suppliers.