Five Selling Methods You Can Use to Sell Heavy-Duty Equipment
One of the best advantages that you get when you own heavy-duty equipment is gaining profit out from selling them once you want to upgrade your fleet or you don’t need them anymore. Perhaps you have currently a running Bobcat track loader for sale ad on newspapers and your website, and you really want to sell this equipment immediately. The question is, how will you do that?
You actually can choose between five common and effective selling methods, and we will be discussing them with you bit by bit. But before that, make sure to understand that the act of selling machinery and heavy-duty vehicles should be given meticulous consideration. Finding a buyer isn’t your only concern, you should also learn to examine all aspects involved in selling the equipment such as marketing, negotiating, arranging equipment inspection, and scrutinizing legitimate offers.
Once you fully get the idea of how the selling process works, it certainly becomes easier to take home a deal with the best price possible.
Now, here’s the list of the five selling methods that you can choose from:
This can be considered as the basic way of disposing a piece of equipment. A private sale can be done by simply informing your personal network of construction firms and equipment users that you are selling one of your machines. Putting the equipment on a newspaper ad or online listing site can also be considered as a private sale.
This method of selling can be distinguished from the other methods by the fact that there is no middle-man that controls the buying process or sets the recommended price for you. In other words, the seller is responsible for doing all the marketing and negotiating stuff.
Also known as the unreserved auction, this selling method is another popular way of conveniently disposing of heavy-duty equipment immediately. With this method, there are no reserve prices or minimum bids. The item being auctioned is sold to the highest bidder during the auction day.
One great thing about auctions is that you don’t have to do marketing or negotiating anymore. The auction organizer is in charge of promoting the event, and since people participating in an auction really has an intention to buy something, the seller is guaranteed with a buyer right away.
If there is an unreserved auction, there is also a reserved auction. The difference between these two types of auction is in reserved auction each item being auctioned has a so-called reserve price. If the highest bidder does not reach the reserve price that is set by the seller, the seller has the right whether to accept the offer or reject it.
One of the primary benefits of a reserved auction is giving sellers a guarantee that their machinery will not be sold for a price that is way too low than their expected profit. Unfortunately, most interested buyers of construction equipment shun reserved auctions since they do not know the reserve prices of the auctioned items and they are also uncertain whether the item will be sold.
Consigning with Equipment Dealer
There’s really a great advantage when you relegate the construction equipment to experienced dealers. Apart from their experience in selling machinery, they totally know the market and how the industry works. They also have a huge list of connection, making it easier to sell the equipment at the right price.
Equipment dealers can showcase the items you are selling in a prime location where buyers can easily access it, but that also means that you have to pay them higher than usual with the overhead costs. And since dealers always want to maximize their profit, you have to be extra careful checking whether they have hidden costs that they might charge you. Always ask questions before you transact with them.
Construction Equipment Brokers
Connecting with equipment brokers is also one of the most common methods that construction firms do to sell their machinery. Brokers will make use of their connections and industry knowledge to sell your equipment. They will be responsible for negotiating, facilitating inspections, and ensuring that the machines will be sold at good price points. Getting a broker to sell your stuff can save you a lot of time, but of course, you have to give them their commission rates.
Unlike consigning with equipment dealers, you will be the one in-charge of the storage, insurance, maintenance, and all the other costs incurred while the broker is still finding a potential buyer.