Selling used heavy machinery can be time-consuming and stressful. It’s often difficult to place an accurate price to your machinery and know where and how to list your equipment. These 5 tips offer a good starting point and will make the sales process much easier.
Do your Homework
The first step to selling any heavy machinery is knowing how much your equipment is worth. Researching into the current market and comparing prices of similar machinery to what you are trying to sell allows you to establish a reasonable price range. After finding a suitable price range, you are able to negotiate the cost of the equipment and set realistic expectations.
Research Selling Methods
Whatever machinery you want to sell, its condition and how keen you are to push for a quick sale, there will be a suitable selling method for you. There are a range of common selling methods including reserved and unreserved auctions, equipment dealers and private sellers. With any of these methods, it is recommended to educate yourself on the drawbacks and benefits of each before committing.
Show the value of your equipment
Before selling any heavy equipment, you should consider the way it appears to potential buyers. Shabby maintenance can deter a buyer, so it is advised that you make some refurbishments to any machinery you want to sell. This can include any maintenance such as cleaning, upholstery, glasswork repair, painting and finishings. Ordinarily, refurbishing is a sure-fire way of showing and adding extra value to machinery and provides a larger return than the initial investment.
When listing heavy machinery online, it is important that you provide accurate and detailed photographs and information about the equipment you are wanting to sell. The published details and photos must be comprehensive and show a true-to-life 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 in any doubt about how to sell your heavy machinery and are reluctant to go it alone, it could be wise to seek out an experienced equipment dealer and distributor. They will bring the expertise you need to properly list and market your machinery and maybe even have the ability to increase the market base for your particular equipment.
For more information about selling your heavy machinery, get in touch with the team at Omnia. We also sell your used heavy machinery and you can find out more details here.