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Do’s and Don’ts of Selling Industrial Equipment and Tools
There are a few ways that you could go about selling industrial equipment and tools: through a broker, sell it yourself, or use an auction company that specializes in selling these types of items.
Regardless of what method you use, there are a few do’s and don’ts to consider in order to have a successful sale:
Do have maintenance history available. The more information you have about the maintenance of a piece of a equipment and it’s history of usage, the more willing buyers are to pay top dollar for it.
Do clean the tools or equipment before auctioning it off. Besides taking good care of the equipment you would like to sell, buyers want items to look good as well. That’s just human nature. Many of us like bright, shiny things even if they are used. Make sure to give equipment a thorough cleaning by removing all dirt and dust.
Do work with a broker or auction house that has experience selling industrial equipment. An experienced partner has the resources, mailing list, and connections to properly market your auction to targeted buyers.
Don’t limit yourself to local buyers.There are plenty of potential buyers across the nation or even around the world who are looking for what you have to offer. One of the advantages of working with an online auction company is that your auction can be marketed to so many more buyers. Keep in mind that any type of sale requires an intensive marketing strategy.
Don’t make assumptions. If you’re going to work with any third party, whether a broker or auction company, make sure to ask plenty of questions about their processes and procedures. Find out exactly how they go about selling your items and any fees involved.
Don’t undervalue your assets. You probably invested a great deal of money into your equipment, but it’s time to let go and think about what the minimum amount is you feel comfortable selling at. Research what the current market price is for your used items. When you overvalue your assets, it takes more time to find someone who is willing to buy at your price.
Getting the most money for your business equipment and tools takes a bit of strategy and planning. The most important and time consuming step in selling your assets is marketing, and it’s important to find buyers where there is a high demand for what you have to offer.
Are you in the Southern California area and thinking about selling your industrial equipment or tools? Find out more about your options and consider selling via an online auction. Contact us today: (619) 326-9690 or email us via our contact page.