The theft was immediately reported to police, who activated an equipment tracking and recovery device hidden in the backhoe. Just 15 minutes later, police and members of an auto theft task force received the silent signal emitted from the backhoe and located the equipment in a field on the outskirts of Modesto.

Within an hour of reporting the theft, the $40,000 backhoe was returned to its owners undamaged.

All too many times, the ending is not so pleasant. In fact, the National Insurance Crime Bureau in the U.S. estimates that more than $1 billion in construction equipment is stolen each year.

Additionally, the open cabs of used construction equipment for sale provide thieves with easy access. Also, equipment often has a “one key fits all” ignition, making it all too simple to jump into a backhoe and drive off.

Another issue is that construction equipment does not have standardized product identification numbers (PINs) or serial numbers. Title and registration for this type of equipment are also not mandated. The bottom line is there is often inferior record keeping and a lack of paper trails, which makes it hard to trace stolen equipment back to owners.

And there is a lack of familiarity among law enforcement of the various types of used construction equipment for sale, it is more difficult to find diffrence skid steer loader for sale from a backhoe loader for sale from a wheel loader for sale, etc.

The “high reward” piece of this equation comes in because many pieces of heavy equipment carry a hefty price tag, some as high as US$150,000. For example, backhoes can range from $45,000 to $55,000; skid steer loaders from $25,000 to $35,000; generators from $25,000 up to $150,000 for trailer mounts; forklifts from $12,000 to $50,000 (all in U.S. dollars).

The equipment may end up in a chop shop, in which it will be stripped down to components that can then be sold separately on the black market. Some pieces are shipped overseas and sold illegally.

If you think a construction company is out merely the cost of the stolen equipment, think again. There are many hidden costs to construction equipment theft — making the true price of theft simply too high to pay. For example, when equipment is stolen, it creates business downtime that can create costly delays in a construction job — and lost revenue.

There’s also the cost of renting equipment to replace the stolen item.

Then there are insurance deductibles and premium increases if the item is insured. If not, then a company is out the entire value of the equipment.

A contractor may also face penalties due to job delays. Additionally, if there were any valuables in the stolen equipment, those are gone as well.