Selling used heavy machinery can be time consuming and stressful. It is often difficult to accurately price machinery and know where and how to list equipment. These 5 tips offer a good starting point and will make the sales process a lot easier.
Do your homework
The first step in selling any heavy machinery is knowing how much your equipment is worth. Researching the current market and comparing the prices of machinery similar to what you are trying to sell allows you to establish a reasonable price range. Once you have found a suitable price range, you are able to negotiate the cost of the equipment and set realistic expectations.
Research sales methods
Whatever machinery you want to sell, its conditions and your passion for a quick sale, there will be a sales method that suits you. There are several common selling methods, including confidential and no-reservation auctions, equipment dealers, and private sellers.
Show the value of your equipment
Before selling any heavy equipment, you should consider what it looks like to potential buyers. Poor maintenance can discourage a buyer, so it is recommended that you do some renovations to any machinery you want to sell. This can include any maintenance such as cleaning, upholstery, glass repair, painting and finishing. Usually, refurbishment is a surefire way to show and add value to machinery and provide a greater return than the initial investment.
Be transparent
When listing heavy machinery online, it is important to provide accurate and detailed photographs and information about the equipment you wish to sell. The details and photos posted must be complete and show a realistic representation of the machines – this is especially important if you are selling internationally and the buyer will not be able to physically view and inspect the machine.
Find an equipment dealer
If you are unsure how to sell your heavy machinery and are reluctant to do it yourself, it may be wise to seek out an experienced equipment dealer and distributor. They will bring the skills needed to properly list and market your machinery and perhaps even have the ability to increase the market base for your specific equipment.