Selling machinery involves various options, from working with an equipment dealer and auction house, or directly selling to buyers themselves. Experienced sellers who have established strong relationships can often sell their equipment at its full asking price.
Selling equipment and machinery should always involve providing an open process that allows buyers to inspect machines before making their decision, with clear sale terms and detailed descriptions online.
1. Know what you want to sell
An understanding of what customers and prospects actually buy is a critical first step for sales teams, helping them prioritize opportunities efficiently. This information should also provide them with accurate details of current competitive positions at each account.
Apart from publishing detailed information and photographs online, it’s also crucial that buyers can inspect machinery directly. Not only does this increase your likelihood of sale but also ensures only qualified buyers can complete a deal wotpost.
Additionally, it’s vital that you understand the tax repercussions associated with selling machinery. This process can be complex and may require the advice of a trusted advisor; you want the maximum return from this sale.
2. Inspect the machinery
Before selling used machinery or scrap metal, it is always advisable to inspect it for potential liens and loans that might have been applied against it, and check that its condition remains good. A digital checklist app like Nimbly can make this process quicker and more efficient.
Smart sellers take time and care in cleaning up their machines before listing them for sale, which reassures potential buyers that the equipment has been well taken care of and increases buyer confidence when making their purchasing decision. In addition, key components may be refurbished in order to increase its value – an investment which often pays dividends when it comes time to set the selling price of machinery sold through auction. Regular inspections can identify issues which could cause system failure and ensure you receive high-quality equipment at a great value price.
3. Market the machinery
To sell machinery quickly and efficiently, it is crucial that it is properly advertised. This involves taking accurate photos of the equipment as well as being honest about its condition. In addition, hiring a professional photographer who can capture better shots than you could ever achieve with just your smartphone camera may also prove invaluable.
Other strategies for marketing equipment can include posting it online at popular specialized marketplaces such as Machinery Trader or IronPlanet, as well as using social media and reaching a wider audience. You should also conduct as much due diligence on any potential buyers – for instance gathering their business license or tax records before proceeding further with negotiations.
Reaching out to past buyers of equipment is another effective strategy to increase your chances of selling it quickly and at top dollar. Create an email or phone contact database of previous purchasers so you can stay in contact and inform them of any upcoming sales of machinery that might interest them.
4. Ask for help
If you are having difficulty selling your equipment, it may be time to seek professional assistance. Equipment sales companies specialize in selling machinery and can often sell it more quickly and at a higher price than you could on your own. They can also reach more potential buyers by marketing the item worldwide and providing multiple purchasing options (online as well as in their physical locations).