Getting Your Business Underway:
8 Platforms for Buying and Selling Heavy Equipment
If you are just getting started in business or ready for the next phase in your plans it is likely that you may have the need to buy and sell items of equipment and machinery, which can be a daunting task if you don’t know the best way to do this.
Here are some pointers on the various options that are open to you when you are in the market for some new equipment and, also, when you want to sell some items too.
Auctions are a popular route
There are a number of key points that make the option of buying and selling via an auction the most viable proposition.
As you will see when you visit a site such as Equify auctions there are all sorts of plant and machinery items that come up for sale on a regular basis and there is often a fair amount of choice as well as competition for certain items, which could be good if you are a seller and equally as good if you are a buyer and there is a healthy list of options to choose from.
Traditional auction
Auctions have been around for centuries and they are still just as relevant in modern commerce, although the system has evolved and you can now attend a physical auction at a set time and place, or you could do your bidding via an online auction.
With a traditional auction, you will get the chance to take a look at the items in person before deciding whether to bid for them or not.
The downside to that scenario when it comes to a traditional auction is that if you are a seller there are costs attached to transporting the equipment or machinery to the auction house venue, and if you are a buyer, there could be added transportation costs to consider if your bid wins and you have to arrange to get the item back to your place.
Online auctions are a popular alternative
It is, perhaps, no coincidence why online auctions have boomed in recent years when you consider some of the benefits attached to buying and selling plant and machinery online.
One of the primary reasons why online auctions can be preferable is down to the fact that equipment does not have to be transported beforehand, and, therefore, does not leave the sellers control.
This makes it more convenient to sell an item as bulky as construction machinery and the seller is well catered for in this arrangement as inspection reports, photos, and supporting documentation are all available beforehand, so you can make an informed decision whether to bid in the knowledge that the paperwork and condition of the item has already been verified.
Sell the items yourself
If you are trying to keep costs down and simplify the process of selling your construction equipment you may well be tempted to consider the idea of trying to sell the items yourself, through local advertising and word of mouth.
There is nothing wrong with choosing the private sale route but there a number of factors that you need to consider.
Some of the negatives that you should think about include the possibility that you will only have access to a smaller pool of buyers in comparison to the number of people who might be looking at an auction site, plus there is the risk attached to dealing with unqualified buyers who have not been vetted before they offer you a price for your item.
Negotiating a sale price is also time-consuming and you will need to consider transport logistics too.
Part-exchange
In much the same way that you might take your old car to a dealer and offer it in part exchange for a new model, there is the option to do that if you are in the market for buying a new piece of plant or machinery.
The most obvious negative to that idea is that it is considered likely that you may not get the best price for your old equipment, as dealers can have a tendency to offer low trade-in values.
Buying new also means that you are going to be paying a showroom premium for the item you want to buy and when you combine the double-whammy of paying a top price for new and getting a low price for old, it can make the idea of going to a dealership seem less attractive.
Place a bid on eBay
You might be able to find a reasonable selection of heavy construction equipment and machinery for sale on this popular auction site, but there are issues that you need to think about with this particular option.
However tempting it might be to click the “buy it now” option it would be wise to consider whether enough due diligence has been carried out to make you comfortable with placing a bid that you are then committed to.
It might be a bargain that you have secured, but there is also the possibility that you are not exactly getting the item that you have bid for.
Cast your net wider
There are a number of online sites that are dealing with the buying and selling of construction equipment and machinery and a site such as constructionequipmentguide.com could be useful if you are prepared to travel in order to get the right deal.
This site doesn’t give you the option of bidding directly on it but it does provide a list of auctions that are going on and also lists details of online auctions too.
These details are arranged in a calendar view format so you can plan your buying and selling activity with ease.
Ask around
A final option that is always worth considering is to use any industry contacts you have made to ask around whether there are items for sale that could be of interest to you.
The same applies if you are selling some equipment or machinery, and it could be that you already know someone who wants to do a deal.
Buying and selling heavy equipment doesn’t necessarily have to be that complicated or difficult, provided you know which sites and options are going to work best for your needs.
