Do you love having old machinery sitting around collecting dust? Of course not!
If you are looking to sell your machinery there are two things that you want - One to sell it for as much money as possible and two sell is fast. Equipment brokers are one good option for doing this.
They understand that the longer it takes you to sell the equipment the longer your work process is impeded. You're either waiting to get new machines or having to store the extra ones.
The market for used equipment is estimated to be around 192 billion U.S. dollars. That doesn't include the money that's spent on upkeep when you sell your equipment - you want to sell it for everything you can.
Here are some tips to help you get the most for your machines from equipment brokers.
1. Know What Your Stuff is Worth
Once you've decided to sell some of your equipment you want to figure out how much it is worth. Even if you are going to be selling to an equipment broker. While they are fairer than a personal buyer, they want to buy for as cheap as they can too.
You can look online and find a price range for your machines, be sure to check the brand, model numbers, year and condition.
Another option is to get your equipment appraised by a third party. That way you can have some extra security in knowing how much your specific machine is worth.
2. Show Equipment Brokers the Value of the Machine
Wash your equipment! You will be amazed at how much of a difference it will make in the broker's willingness to pay more for it.
Once it's all nice and shiny, take pictures of it from all angles. Be sure to get the model number. That way they have a good idea of what they are buying before they ever come see it.
It's also helpful to get video of the equipment doing what it's designed to do. That way they can see it in action, and be comfortable that the machine works well.
3. Be Honest with Them
Since you've already taken detailed photos, you've already done some of the footwork here. But you also want to be honest about any scratches, dents, broken parts, anything that is wrong with the machine.
It might seem like its counterproductive, but you don't want the broker to think they are paying for something that is in perfect condition and that not is the case.
Along that same line, you need to make yourself available for the broker to come see the equipment before the sale is finalized. If they feel like you've been dishonest with them then it could put the sale in jeopardy.
4. Minimize Your Risk
You're already doing a lot to aide this step by choosing to go with equipment brokers. However, you still need to be clear when defining when and how you want payment.
Odds are you are going to be using that money to replace the machines with newer versions. You can't wait on payment because that will be wasted time and money.
It's better to take all the guesswork out of the equation from the start. Equipment brokers are typically pretty good with agreeing to the terms as long as they are reasonable.
5. Bells and Whistles
Before contacting the equipment brokers you should collect everything you have that's related to the machine that you are selling.
Things like equipment upgrades, added accessories, owner’s manuals, maintenance logs, repair records, and spec sheets can all help sweeten the deal.
If you have documents regarding parts that you have replaced them you'll want to include that too. Buyers like to see that the upkeep has been done and that they have more time before those parts wear out again.
If you aren't sure what else you should include you can look up more ideas online to see what other people have included.
6. Shipping Options
Something that most people think about last, would help you out a lot to think of before reaching out to equipment brokers. How in the world it is the equipment going to get where it needs to go?
Will they need to come to get it, will you load it? How much will it cost and are you willing to include that in the sale price? Most equipment brokers will assume that the equipment will be loaded onto truck(s) by you and the buyer will pay for transportation costs.
A lot of brokers will really appreciate the footwork being done beforehand. A happy broker means a happy seller.
7. Cultivate Relationships
If you have equipment you regularly use, odds are selling the older versions to replace them is going to happen fairly often. With the demand trending up at about 6.5 percent yearly - each year the selling market will get better.
If you're selling you equipment every few years, cultivate a relationship with a single broker or a couple brokers. The better the relationship is that you have with them the easier the sales are going to be.
Once they trust you and you trust then a lot of the groundwork is already done. They will know that when you say the equipment is in great condition that it actually is. That will make your job and their job a lot easier.
Selling Made Simple
Selling machinery can be a pain and you have to do it every few years. Using equipment brokers can take a lot of the pressure off of you.
Doing a few simple things can help take even more off of your shoulders. If you're looking to sell some of your equipment, contact us, we can help you.