5 Important Tips For Selling Used Equipment At An Equipment Auction

Do Your Research on the Market

First, you need to understand the market conditions as well as the latest trends in the industry before you start selling anything. Machinery prices fluctuate depending on many factors. Have an idea about the latest trends in the market before you decide to put your used equipment on auction. The best way to do this is to conduct in-depth research. Visit online auction marketplaces and take a look at the recently sold lots. But you should be careful on sites like eBay since the site will tell only what a customer is asking for a piece of machinery and not how long the client has been asking for it. On the other hand, the site doesn’t have information on what type of similar machinery has been sold in the past. Collecting reliable market information is important to make a wise decision as well as decide whether it’s the right time to auction your piece of used machinery.

Price Your Used Machinery Right

Pricing your industrial equipment according to the market is important in case you want to sell the item fast. The reserve price should be set taking into consideration factors like the machine’s age, warranties (if any), and the hours it has been in operation. You should be realistic about all this since the people you will be selling to are experts on the subject matter. If you don’t know the price of the used equipment according to the market conditions, the best thing is to hire an independent appraiser – like Southern Fabricating Machinery Sales. Our staff will come up with a more reasonable price for your machinery.

Clean or Refurbish Your Used Equipment

The first impression matters the most in any marketplace. Dust and clean the equipment before you list it with equipment auctioneers. You should make the piece of equipment more than worth the asking price. It goes a long way in getting your asking price. On the other hand, you can make some repairs and refurbish some of the most critical components like keyboards, button covers, and stickers. Repainting can increase the value of the equipment. A smart seller knows how a few tweaks will help maximize the value of his/her equipment and attract the best price by starting a bidding war.

Provide as Many Details as Possible

A customer needs to know everything about a product before making a purchase. Make sure you have placed all the information before listing your used equipment with an auctioneer. Provide detailed videos, photos, warranties, technical specifications, service records, and any spare parts or tools available. You may also provide inspection reports, and make sure to be as transparent as possible to avoid any dispute once the machine is sold. It helps build a good reputation that comes in handy if you decide to sell through the same platform in the future.

Work with Expert Equipment Auctions

The most important thing is to choose reliable, qualified, and experienced used machinery auctioneers like Southern Fabricating Machinery Sales (SFMS) when listing your used equipment. We have the necessary experience dealing with used industrial machinery. SFMS helps you auction any type of used equipment and get you the maximum value for it. In case you are looking to liquidate your used equipment, contact SFMS today. We will do the heavy lifting and get you the best price for your piece.

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