In c# and Visual Studio Windows forms I have loaded an image into a picture box (pictureBox2) and then cropped it and show in another picture box (pictureBox3).
Now
The method PictureBox.CreateGraphics() should not be used unless you know what you are doing because it can cause some not-so-obvious problems. For example, in you scenario, the image in pictureBox3 will disappear when you minimize or resize the window.
A better way is to draw to a bitmap, which you also can save:
var croppedImage = new Bitmap(pictureBox3.Width, pictureBox3.Height);
var g = Graphics.FromImage(croppedImage);
g.DrawImage(crop, new Point(0, 0), rectCropArea, GraphicsUnit.Pixel);
g.Dispose();
//Now you can save the bitmap
croppedImage.Save(...);
pictureBox3.Image = croppedImage;
Btw, please use more reasonable variable names, especially for pictureBox1..3.