All About Selling Industrial Equipment

No matter whether you are upgrading machinery, downsizing operations or closing plants – selling surplus industrial equipment should always be an option worth exploring. Selling older machines may help lower maintenance costs while creating space in your storage facility or paying for upgrades in other ways.

Understanding what makes for the successful sale of industrial equipment can be daunting, so here are a few helpful hints:

Know Your Assets

Industrial equipment’s value depends on a number of factors, but generally speaking it will fetch more if it comes from a well-known manufacturer and buyers are assured they are getting a reliable piece of machinery that can last them many years to come.

Another effective method for establishing the Fair Market Value (FMV) of equipment is through comparisons to similar equipment currently on the market. Doing your research and cross-referencing price ranges from various websites will give you a good indication of what to expect.

When searching for financing to purchase or lease industrial equipment, there are various financing options available to you. A borrower’s credit history often determines what kind of financing option and terms they receive; having strong personal credit ratings could make the difference between being approved for financing versus not.

Determine the Value

One of the key steps when selling equipment is establishing its value. This will enable you to determine whether a buyer is offering an acceptable price, as well as fulfilling any tax obligations if necessary.

Certified machinery and equipment appraisers employ several approaches when valuating equipment, one being sales comparison analysis where an appraiser examines comparable items available in the market for sale in order to establish a pricing model; such items could include auction prices, dealer listings or discussions with vendors.

Cost approach appraisals use this technique to determine replacement costs of equipment that doesn’t have an active market and items with high salvage values, among others. A simple yet effective way of using this approach to value equipment is visiting reputable vendors and asking their quoted price including any extra fees or charges that might apply.

Do Your Homework

Before moving forward with any sale of their assets, companies should thoroughly research what they own, its worth and any needed repairs before embarking on liquidation or overselling efforts. Doing this helps avoid needless costs related to liquidation companies or overselling equipment that won’t sell quickly enough.

People shop for equipment based on multiple factors, including what kind of machinery they need, its capabilities and maintenance costs. A strong selling point will highlight all these details clearly and easily.

Photos are an integral component of the sales process and don’t need to be captured by an expert photographer in order to be effective. Buyers will look for clear photos that provide clear views of machinery as well as any pertinent details, such as its upfit type and working radius, which can help them decide if it meets their business requirements. Lighting and background can make or break an effective photo of equipment.

Reach Out to Buyers

Businesses looking to sell should tailor their approach to target buyers by finding marketplaces or brokers specializing in selling industrial equipment. In addition, businesses should closely examine sales data from these platforms to gauge interest and what price people are willing to pay.

Companies should keep in mind that buyers often seek bargains when pricing equipment competitively, which they can do by checking completed listings on marketplaces and liquidation websites to see what comparable equipment has sold for.

Researching potential buyers to ensure they are legitimate and not scalpers or fraudsters is key for protecting assets and avoiding financial losses from sales transactions. By following the steps outlined here, businesses can more quickly and profitably sell excess industrial equipment quickly and profitably. Read more: