How To Sell Heavy Equipment At An Auction
When tough economic times come, you may have to take drastic action in order for your construction company to survive. No one wants downsize but you may have comprise and do what you can to maintain your business’s bottom-line.
One sure way to save money is to cut equipment expenses to the bare bones. Selling off some of your construction gear and tools can be more than a little bit heart breaking but construction equipment auctions are quick and easy way to cut costs and even make some quick cash.
If you own such popular items as used bobcat skid steers or skid loaders and are willing to put them up for sale, you may be surprised at the auction prices you can get. This article will go over some the things you need to look at before you sell your items at construction equipment auctions.
What to Sell at Construction Equipment Auctions
Tip 1: Sell your equipment wisely. In dark times, self-doubt and money worries can quickly turn in to panic thinking. Take your time and select the equipment, gear and tools that are NOT the core of your business. For example, if you started out in the roofing business, and expanded into other construction sidelines, you may want to sell off everything but your primary roofing tools.
Tip 2: Sell It Yourself. If you have a good deal of equipment to sell, you may be able to host your own private auction using a local auctioneer or service company. This has an advantage of you working closely with the auction house and controlling most of the action.
Tip 3: Join a Specialized Auction. While it’s true any auctioneer can help you sell your items, if you are trying to move heavy equipment, you may want to consider a specialty auction service. There are auction houses around the country that work only with heavy equipment or within the construction industry. These auctions are more widely publicized and attract a wider range of bidders than found in smaller, local auctions.
Tip 4: Have Photos. Even if the items you are selling are being offered during a live auction, you still need to take as many photos from different angles as possible of your for sale items. Auction houses often publish printed catalogs as well as host websites, which will display photos of the items you are offering. The more photographs you have the better potential bidders like it.
Tip 5: Gather All Relevant Documents. Go though your records and make copies of the titles, registrations, warranties, repair receipts, maintenance logs and manuals for every piece of equipment or large tool, you will be offering for sale. Be prepared to send off copies to the auction house and any interested potential bidders.
Now that you know a few tips on what to expect when selling at construction equipment auctions, you can start to talking to auction services about the process in more detail.
