If you have surplus equipment that need to be sold you should consider selling it in auction instead of placing an ad in your local magazine. Here are a few benefits you will get if you decide to sell your stock inventory or used machinery through auction on a professional marketplace.
Reach the best price
In auctions, the law of supply and demand will balance the final price taking into account the market conditions. Indeed, the goal of a good auctioneer is to promote the equipment for sale to the largest number of buyers possible. At the end, when the auction is closed you know the price reached is the best, because only the buyer willing to pay the highest price will stand.
Another benefit of auctions: everything is closed in a given period. You know in advance when your used machines will be gone. There are start dates and end dates that limit the period for bidding. This will help the Purchasing Manager to plan and manage the space available in the warehouse for example.
Don’t worry about transportation
It’s simply not your job. Your broker will make sure that the buyer will pick everything up on time.
It’s the buyer responsibility to remove the equipment from your property. So you don’t have to worry about renting a truck that could be costly.
Be aware that it is not the case for traditional auctions where the machineries are sold on a specified site. Make sure you sell it with an online auctioneer.
If you sell your used equipment with an industrial auctioneer, you can set a reserve price (which is not visible for buyers) that you are willing to accept the sale. If the reserve price is not reached when the auction is closed, you don’t have to sell. You do not sell means you do not pay any commission fee. No cure, no pay.