04 Dec Sell Used Machinery with Us: Tips for Selling Heavy Equipment
You’ve invested a great deal of money in the industrial machinery on your manufacturing floor, with the hopes of achieving the industry average return on your investment of almost 8% over the life of the machines deployed throughout your operation. In order to achieve these ROI goals, there are a number of maintenance and operational challenges you’ll have to overcome in order to maintain your equipment at levels sufficient enough to maintain resale value through to the end of each machine’s effective life cycle. The Equipment Hub has various solutions to help you sell used machinery and heavy equipment.
How We Sell Used Machinery
Identifying the sweet spot in the life of your equipment where you’ve been able to maximize your ROI at an operational level, and can still turn a profit in the resale process, requires management and accounting to assess the value of the equipment on a constant basis. Once you’ve reached this point with your equipment, though, it’s crucial to move quickly to get your machinery to the marketplace.
End of operational life isn’t the only reason your organization might be looking to offload equipment. Your company might be closing a location or merging with another organization, resulting in entire manufacturing floors becoming redundant or unneeded. In these instances, asset liquidation at speed is the ultimate goal.
Regardless of the driving factors behind your need to offload used machinery, one of the best and most reliable avenues for doing so is putting it up for sale in an online auction. In this post, we’re going to explore the benefits of online auctions and how to take part in the online auction service operated by the Equipment Hub.
Why Go to Auction
Once you’ve decided it’s time to sell a piece of equipment, you’ll have to quickly decide on how you want to go about selling the unit. You could incur the expense of physically bringing the unit to a marketplace geared towards industrial machinery sales, or invest the time and effort in advertising and seeking out buyers, but why put so much of the burden on your own shoulders and chip away at the already slim profit margins? Consider instead selling your piece of machinery through an online auction, which offers sellers and buyers a number of benefits in-person marketplaces and auction houses do not.
Fast and Flexible
Online auctions move at the speed of the internet, and give you an exposure not possible through brick-and-mortar auction houses – once you’ve listed the equipment, it can be seen worldwide by anyone in the market for that type of machinery. In order to minimize the carrying costs of unused equipment, and to avoid complicated and regulatory processes that can slow down a sale, a reputable online auction site is one of the fastest avenues you can take.
Auction websites come with an instant sea of potential buyers. While there might be listing costs, you won’t need to invest the added money or effort creating advertisements and seeking out interested buyers. You post your item and it’s instantly visible to buyers. Because many auction sites tend to partner with reputable auction companies, your visibility to high-quality clientele is multiplied.
Guaranteed Pricing, Competitive Bidding
Online auctions allow sellers to set a reserve price, guaranteeing that the seller will receive the minimum amount required to guarantee the target return on investment. However, because the auction site crosses markets and borders, the bidding process could reduce the gap between your original purchase cost and the final sales cost even more, maximizing your final profit from the unit.
Virtual Auction Houses Save You Money
Depending on how many pieces of used machinery you’re looking to offload, finding a venue large enough to host an auction, combined with the costs of the auction itself and transporting your equipment to the auction site all dig into the profits you’re hoping to achieve in the auction process. Going through a virtual auction, all of these costs are mitigated, and even the costs and hassle of shipping your equipment to the buyer can be reduced as generally the auction site acts as a broker and manages the exchange of goods.
Sell Used Machinery With Confidence From the Comfort of Your Office
Online auction sites have such a staggering scope of exposure to the online buying community that there is almost a guaranteed demand for any piece of equipment you might be looking to sell. Successful sales will give you the confidence to continue to use the online auction platform, eliminating any possible future stress you might have thought you’d endure managing your own sales and liquidations.
Because of the security that can be built into the online purchasing process, online auctions offer fast, secure, and reliable third-party platforms on which buyers and sellers can conduct business. However, because of the dollar amounts in play, and the value of the equipment changing hands, we can’t stress enough the importance of only working with auction houses that have solid reputations. Absolute trust in their process and integrity means that you can truly embrace the online auction process, which is one of the fastest and most secure sales methods available to sellers.
Sell Used Machinery with the Help of True Experts
Whether your goal is the liquidation of a manufacturing operation or you’re looking to sell off a single piece of used equipment, the Equipment Hub has the personnel in place to help broker your sale. Our interface allows sellers to upload videos, documentation, pictures, and other media to best present your equipment to potential buyers. Once your equipment is in our database, you can rely upon our extensive database of buyers being drawn to our auctions by our highly effective marketing mechanisms. Listing in our database allows you to choose one of our online auctions and liquidations that best fits your timeline and the type of equipment you’re looking to offload. Explore our auctions and other asset management solutions to determine which of our services best meets your needs for offloading your industrial equipment.