Being a business that has been established for a couple of years, you can have an accumulation of professional equipment or machinery. This can start causing problems for you as they take up space that could have otherwise been used for other things. Now that commercial and storage spaces are becoming increasingly expensive, it is not a good idea to keep used machinery around longer than you have to.
Selling used machinery is a good way to get back some of the money you can use for upgrades or take care of some other expenses in your business. Because of the wide reach internet provides today, online sale of used machinery has become very popular, and there are now many platforms online through which you can lay off those machinery you longer use in your company.
However, many sellers list items which eventually end up on the virtual shelf without anyone making an offer for them. If you want to list your used machinery online, you want to make the items actually sell. These are some top tips you should never forget when trying to sell your used machinery online.
#1: Carefully Compile the Machinery You Want to Sell
Although you might have an idea of some items you want to sell, but it is always recommended that you go through everything again to be sure you are not missing out on some other equipment that can also bring in some more money. This is an important step, especially if you are the type that doesn’t understand what exactly that need to be sold and may need an expert to help them evaluate the use of everything they have.
#2: Research Pricing and Industry Trends
Don’t forget to always be realistic when setting your price. Most buyers browsing and shopping on industrial auctions sites are most likely looking for a deal and will often sort their search result by the lowest price. What this means is that if your listing is not competitively priced, chances are that you will get passed over. So check what the price of your machinery costs in the marketplace and reasonable set your own price. Don’t forget; you will have to offer a really great price to convince buyers to buy your used machinery… because buying used stuff always comes with risk and inconveniences.
#3: Clean or Refurbish Your Machinery
What most smart sellers do after using their construction equipment, manufacturing machinery, or farm vehicles, is that they make sure they clean them well before putting them up for sale. This has a way of increasing the value of the item. And if you have seriously used your machinery or have some parts damaged, consider repairing damaged part or refurbishing to help increase the price of the item on the used machinery market.
#4: Choose the Perfect Selling Method
There are a variety of ways you can sell your used machinery online. You can use an online broker, visit different sites, or sell in an online auction. A method that works for item A may not work well for B. so carefully determine which method will best help you sell your machinery for the best prices.
#5: Ensure You Give Detail Information About the Item
When customers shop online, they are making important decisions using the information made available to them, including the descriptions, pictures, and technical specifications, which the seller has provided. Make sure you give as much information as possible to help buyers make quick decisions when they check your items.
However, be transparent with your details so you can avoid future issues in the transaction so you can build a good seller reputation because you may likely be using the same platform in the future.
#6: Make Sure the Buyers Are Vetted
This will save you a lot of frustration and disappointment in the long run – when the marketplace you are using verifies the buyers before allowing them to transact on the platform. This helps cuts down complications and dispute after a transaction is made. And if you will be selling in auction format, spare the time to screen your bidders before letting them participate in the auction.
#7: Look Out for Common Scams
If you will be using generic or public platforms like eBay, Kijiji or Craigslist, you will need to be extra careful and watch out for fraudulent buyers. Look out for signs of scam such as:
– Buyer willing to overpay
– Buyer wanting to use a personal check
– Third party representing the buyer
– Buyer wants you to help them arrange shipping on their behalf by paying you
– Buyer seems not to be concern about what you are selling
All these are red flags that may be warning you to keep off, and in that case, you need to carry out additional due diligence.