Category Archives: Auction

Do not keep old heavy equipment for long – Sell them off

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To expect a re-sale value on a used commodity is not wrong but if you expect to get a good price on an item that has nothing left in it, you may become highly disappointed. When it comes to heavy equipment you will also come across people who do not believe in buying new stuff. They see profit in buying old machines, renovating them and make them new. In this way they get heavy equipment at a cheaper price. But these guys do not buy machines that are extremely old and has absolutely no use. You can’t do any modification on them nor are they compatible for installing any modern features. It is just scrap and needs to be re-built all over again. This means that the seller if tries to sell such a stuff will get nothing but peanuts.

List it in an auction site:-

There are plenty of online websites that deals with auctioning heavy equipment and its parts. You can select one such site which is popular with people and list your heavy equipment out there. Please do mention the model number and the year the machine was made. Do mention about the recent changes that you have made in the machine. For instance, if you have painted the machine or have replaced any critical part of it that needs to be stated. The members of the site should know about the improvements that you have made on the machine. It will only help them to gain confidence on you and your product.

Sell it to a friend or amongst your peers:-

This is perhaps the safest way to sell your used heavy equipment. Your friend might have a need for the equipment and he has a lower budget. You can help him by selling your stuff at a lesser price. In this way, you do not have to hang around looking for buyers when you have one next to you. Let your friend inspect the machine and if he find it worthy, he will make an offer. However, if you offer him to buy quite an old model, he might not show any interest. For that matter, nobody will show any interest if you sell machines that are way back in time. They need machines that can support the modern technology and are also less expensive.

Sell it to heavy equipment workshop:-

If you do not get any buyer for your heavy equipment, you can sell it to a guy who runs heavy equipment workshop/company. They might be interested in buying it but they will not be ready to pay you the price that you expect. Ideally, these guys are the last option that people go for and they also know that. If you have to really do away with your machine and are not getting any takers then you have to take this as an option rather to sell it as scrap. These guys will anyways pay you more than a scrap dealer.

How does Auction Companies work for heavy equipment? What do they charge?

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When you do not need the services of your heavy equipment, you got to get rid of them. There is no point in keeping the machines with you and see them getting rusted during different seasons. Now there is a smarter way to get rid of heavy equipment and that is by selling them in auction. So while you put them up for auction, you generally give them the minimum price to start and it takes up from there. People will place their bids on the item and the guy with the highest bid will eventually become the new owner of the machine. It is no big deal to locate a company that is into selling heavy equipment through auction. In fact, you will come across many companies that see this business with huge potential and with larger margins for profit. So finding a company who can help you to do away with your old heavy equipment is no problem.

Get all machines at one place:-

Auction of heavy equipment is more like an exhibition. It is not just your machines that will be slated to get auctioned on a particular day but heavy equipment belonging to many other people will be put on sale on that day. So these companies if they are selling it offline then they advertise about the mega event where they rent a huge place to put up your construction equipment and invite people who belongs from the construction or mining industry. The invitation happens through ways of advertisement, cold calls and online registration. So once people gather at the venue, the auction begins and they bring each equipment at a time. The possibility of a construction equipment not getting sold exists but the larger possibility is that it may get sold off quickly out there than any other forum.

Online auction companies:-

There is also good number of auction companies who deals exclusively on the internet. They make members by asking them to register on their site and then use the site for buying and selling heavy equipment. So a person who is a buyer can also become a seller using the same User ID. He need not change any of his details to sell anything especially when his prior transactions were restricted to only purchases.

Different auction company charges differently:-

The seller has to pay good chunk of money to the auction company to sell his machines. Firstly, some auction companies charge money for registration. It may vary from few hundreds to thousands of dollars. It also covers the listing cost. For offline auction, they do charge for using their services to auction the machine. The amount may be minimal for putting the machine on auction but if it sells of, they may charge from 2% to 10% of the sales price. Sellers take advantage of both the platforms to sell their heavy equipment. Online auction companies charge not only for listing the item but also for enhancements like making the description part look more attractive or to just put a star on the listing which makes it a bit catchy. Any additional feature will cost the seller more and therefore one needs to first understand the costing before going for it.

Tips to Procure Second-hand Heavy Equipment with Peace of Mind at Internet Auctions

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The nastiest nightmare of every used heavy equipment buyer is purchasing a machine and later realising that it is worthless. Though loads of bulky apparatus’s possessors properly sustain their investment over regular time period, the purchaser wants the equanimity that the equipment will run the way it has been promoted. But, unfortunately, what you perceive is not the same all the time what you obtain.

At the land-based auctions, the procurers do not always get the chance to examine the heavy apparatus, re-evaluate the fluid investigation report or operate it. Moreover, the data provided during the bid may be unfinished or imprecise. This can generate unwillingness about buying the second-hand bulky apparatus at a sell-off. The buyers who are opting for online auction feel apprehensive because there is no option for them to check the performance of the heavy equipment. The online heavy equipment buyers are lucky that they get the assurance of the apparatus with the help of guaranteed assessment reports.

How to Make an Inspection Report

An inspection report presents proof that a piece of apparatus has been systematically reassessed and operated. It embraces all the information what the heavy equipment purchasers are probing for. The condition and the traits of the machine are properly mentioned in the report. In this inspection statement, the used heavy paraphernalia buyers also get the data about the cosmetic, structural and motorized facets of the equipment. Here in the below mentioned discussion, you will get to know the strides to create a guaranteed inspection account:

The quality of the scrutiny report automatically rises when it is produced by the knowledgeable and unprejudiced individuals. Some of the auction organisations hire inspector-in-house whereas the other companies recruit autonomous contractors to accomplish the assessment properly. To lessen the cost of purveyors, it is perfect when the supervisor conduct the scrutiny at the seller’s construction site in order that the possessor does not have to budge the paraphernalia until the transaction with the procurer is accomplished.

The purchasers want the examination report to perform as their ears and eyes. However they are required to ensure that the information mentioned in the report are not just the estimations. Preferably, an assessor would apply a standardised course of action to examine the heavy equipment so that the reports are trustworthy and unswerving from instrument to instrument.

Important Points Incorporated in an Auction Statement

As the purchasers employing networked auctions will not be on the construction site to observe the performance of the heavy apparatus, the assessment report should be inclusive in every facet. The idyllic statement should include the following significant points:

  • Lab results of the bulky paraphernalia
  • Images of the interior and exterior parts of the equipments
  • Numerous sections and line-item ratings
  • Report must verify the structure, age and sequential number of the weighty apparatus.

Guaranteed assessment reports are gaining popularity in today’s construction equipment market because a large percentage of procurers prefer online heavy equipment souks to fulfil their needs. This report helps in building the confidence the between the buyer and the seller. So if you are hesitating to buy heavy equipment from the internet auction, then guaranteed inspection report is the most effective solution for your business.

 

 

 

 

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Heavy Equipment Surplus Auction

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When we produce something in abundance and do not find many buyers to buy them. It is better that we get the stuff auctioned. It is not that people are not ready to take but it is just that they are not ready to take it at the price you are willing to sell. Ideally, people like to put a price to it. So if they know that you have the stuff in surplus and are still charging more for it, they might simply not show any interest for it but that does not mean they do not want it. They only want you to bring the price down. You either bring it down or you put it in auction so that people determine the price of it on their own and the one who makes the highest bid goes away with the item.

When we talk about heavy equipment, the heavy equipment manufacturing companies also produces machines in bulk and at times they find that there are not much takers. They do not mind reducing the price of the machines but if they still do not find any buyers, then the best option available with them is to auction the surplus heavy equipment. One should not see the heavy equipment that are there for auction as inferior piece of metal. They are as good as any other heavy equipment that is sold at high price.

One may simply wonder why heavy equipment manufacturing companies have to produce in abundant and then later sell it in auction. Well, they do not produce machines in surplus. They go as per the orders they receive from their clients. However, at times some orders go kaput and the clients back off from the order. They do not do this intentionally but they must have their own reasons behind doing this. Now, when there are no takers for the heavy equipment produced by the companies, they are compelled to sell it in an auction at a dirt cheap price. It is primarily these items that goes as surplus and have to be dealt with by getting them auctioned. In this way, the companies that produce machines get saved from booking huge losses and in the same way few lucky chaps get away with a good bargain.

Auctions can happen in many ways. They can put it up in a local newspaper so that people get to know about it or can just spread the word within their existing clients. They probably do not want to involve good chunk of people in the auction and want this to be a kind of hidden sale. They do this for 2 reasons. The first one is they do not want a large population to know that one of their client has backed off. This has have serious implication on their brand image and the second reason is they want their existing clients to have a good piece of the meat by auctioning the equipment at a much lesser price.

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The do’s and don’ts before auctioning heavy equipment

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It has always been a challenge to heavy equipment owners when it comes to auction their heavy equipment. The main reasons for this could be not maintaining the equipments and keeping it in a state where it may catch rust. The rust on the machine slowly and steadily eats away a good portion of the machine and one fine day, the owner realizes that the machine requires immediate attention of a mechanic. The result of this is that the owner then has to shell good deal of money on getting the rusted part repaired and if there is any harm caused to the vital part of the machine, then it may become all the more expensive for him.

As a result of this entire episode, the owner is also setting a price tag which is most possibly high on the scale. This means that the owner will want to fetch a good price for the machine if ever he/she wants to put it on auction. There are few important pointers that an owner might want to consider before he/she decides to auction the equipment.

Decide the price of the equipment:-

An owner may want to consider the price of the equipment after taking few things into deliberation. For instance, the overall life of the equipment and how many years will it perform with the same pace. The wear and tear on the equipment is another crucial factor that the current owner may want to consider. Also, if the equipment has met with any past accidents and which part of the machine has been recently replaced. After taking into account all these factors, the owner should decide the price of the stuff.

Always check the price of the item getting sold by other competitors:-

This is another important thing that the seller just can’t avoid to ignore. He/she needs to keep a keen check on the price of item getting sold by other competitors. He/she may underestimate the price of his item and therefore he needs to know at what price other competitors are selling the same item. Also, he/she needs to check their configuration. He/she just can’t afford to compare apples with oranges. At times, the seller may also overestimate the price of his product. This comparison check will help him/her to keep his feet grounded and list the item on auction with the correct price tag.

Check the venue of auctioning and if proper advertisement has been done to gather potential buyers:- 

While preparing the format of the auction, it’s very important to mention the venue of the auction very clearly in the advertisement. Alternatively, one also has to see that the advertisement is made in some reputed newspaper, internet, and publication with good circulation. This will allow more exposure to the item and a good number of people may turnout for the auction. Ideally, such auctions happen in a fete which is exclusively meant for such work. The seller only needs to book a place for himself in that fete. He will find potential prospects turning in for the auction.

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Top 4 Advantages of Heavy Equipment Auction Online

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Like all other internet auctions, online heavy equipment auctions can keep away the excess spending and inconvenience related with the selling and buying of the equipment. These kinds of auctions basically have two different choices of the seller and the buyer: either be at a sale at an online site which may take some time or take part actively in an online equipment sale. As the former one is time consuming not even giving any guarantee of a successful financial transaction, most of the business owners opt for the online auction of the equipment. Absolute benefit to all Many websites have now been developed to sell heavy equipment through either direct sell or online instructions. One can use this medium and post the photo and the details are posted on the website so that the prospective buyers all over the world can know everything they want to know about the equipment. The buyer can see the ad until the sale is complete. It also means that the equipment doesn’t have to be transported from one location to the other. The buyers can also look in other websites for getting their desired equipment without going from one store to the other. Most of the heavy equipment auctions dealing companies take in the potential risks associated with this type of selling assuring the vehicles given is representative of any kind of starting proffer and description. Benefit of the seller While doing online auctioning, sellers will definitely make some arrangements regarding inspection of the equipment by an affiliated appraiser. This minimises the risk of equipment being sold with wrong info so as to avoid any further risk of the site. After the post becomes visible to the viewers, action of bidding can make it in the website. The sellers sometimes list their ad under the section “buy now”. Both the types of ads bypass the process of bidding and give permission to the seller to provide vehicles through direct sale. Benefit of the buyers Online heavy equipment auctions are a perfect streamline through which the buyer can find out essential heavy constructional equipment which will allow access to the listed vehicle from any part of the world. The sale is designed to be done by proxy with the automatic increase of counter bid to an already decided amount. A buyer is not compelled to sit in front of his computer during the whole process of bidding but still will have the chance to get the maximum bid. Many buyers want to enjoy the live auction online. For them the owners of the equipment sites sometimes arrange live simulcasts of their products. Completion of the transaction After the successful completion of the sale, the owner of the online equipment company looks after the transfer of the funds and the titles. There are some companies which offer guarantee by providing financial assistance as well. The payment involved in these kinds of sales are generally cost effective compared to conventional approach of the sale through a third –party.

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Want To Sell Your Used Heavy Equipment – Auction It

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If you think that selling used heavy equipment is a big pain, then you should reconsider your thought because it has become lot simpler to sell it off with a good price. There are many buyers who are on a hunt for used heavy equipment at affordable rates may find your deal as a very good opportunity and may look forward to buy it. Nevertheless, something that is of real importance is how do you market your stuff and what platform you use to market it. If you have already decided the price of the machine and you want to sell it at nothing less than that, then you may give an ad and quote that price. Interested buyers who find that rate reasonable will flock in to check your stuff and if they like it, may close the deal. But if you are not certain about the price you want to sell the equipment and want to leave it for the buyers to decide, you may simply auction it. It leaves you with very good chance of selling the item with a price which is way above your expectation and higher than what you have imagined.

It is of due importance to select the right platform to auction the item as you need visitors who will come and check out the equipment. You can think of two most convenient ways to auction it. The first would be to post it on the internet (Bidramp.com) and the second is to leave an ad in a local newspaper and arrange the auction at your place or rent a suitable place for auction.

Few things that you should keep in mind before you put up your equipment in an auction. The first would be to ensure that your equipment is up to the mark and that you do everything to make it look new. Paint the stuff, put some stickers, change old or obsolete parts, and get it checked from a mechanic who is an expert in dealing with things like these. Once you are done with these things, the next would be to put it on a website (Bidramp.com) which is known to people and which also has good number of visitors flocking in to check stuffs on the site on a daily basis. Once you have identified such a site, you need to register yourself there and check the charges of the site. The charges ideally depend upon the kind of item you’re auctioning on the site or the bare minimum amount you keep on the item.

It is recommended that you keep the bare minimum price as the price you expect to get on the equipment so that once the auction begins and people starts placing their bids, the price of the stuff keeps moving up on its own and you end up making good money at the end of the auction.

The second option of auctioning the item at your place also has its own significance. There you’ll see the kind of bidders coming in and also see how they increase the price of the item by placing bids on it. Overall, both the options would turn out to be a wonderful way to sell the used equipment.