An evolving business often finds itself with surplus or outdated equipment taking up valuable space. Selling your used industrial equipment can be a smart move in such a situation, freeing up both physical and financial resources for your company. Find out where to sell commercial equipment with this quick guide, including tips to make the sales process as smooth as possible.
Assess Your Equipment
Before you even list your used industrial equipment for sale, it’s crucial to take the time to properly assess and prepare it. This first step is vital as it directly impacts the perceived value of your equipment and can significantly influence a buyer’s decision. This step of learning how to sell equipment is no different from how a real estate agency typically stages a house before putting it up for sale.
- Functionality: Ensure all components are working as intended. Test the machine thoroughly and document any malfunctions or limitations. For a CNC machine, this would typically involve in-depth testing of its control panel, machine control unit, etc.
- Wear and Tear: Carefully examine all parts for signs of wear and tear, including corrosion, cracks, and damage. Be honest and transparent about the condition of the equipment in your listing. Transparency is a key part of discovering how to sell used equipment.
- Cosmetic Condition: While functionality is paramount, aesthetics also play a role. Clean the equipment thoroughly, removing any dirt or grime from its exterior panels. Address minor cosmetic issues like scratches or chipped paint if possible.
Gather Documentation
Before looking up where to sell commercial equipment, you’ll want to make sure you’ve gathered all the relevant documentation. Having this documentation ready will instill confidence in potential buyers, and it’s a great sign of a well-maintained machine.
Try to provide originals/copies of user manuals, especially if you’re selling a more complex machine. If it’s an older machine that has undergone multiple maintenance rounds, you can also offer service records.
Determine the Price
Accurately determining the market value of your used industrial equipment is crucial when learning how to sell equipment. You don’t want to leave money on the table, while also keeping the price low enough to attract enough buyers.
Online marketplaces specializing in used industrial equipment are excellent starting points. Browsing listings of comparable machines — considering factors like age, condition, and specifications — can provide valuable insights into current market prices. You can also go through industry publications for data on current price trends and external factors that might affect purchasing decisions.
Choose a Channel
Once you’ve prepared the equipment and determined a fair price for it, you’re ready to choose a sales channel. Learning where to sell commercial equipment is a key step, as this decision can significantly impact the speed and profitability of a sale. Let’s take a look at the different options available to you when you’re figuring out how to sell equipment.
- Online Marketplaces: Online marketplaces like eBay and Craigslist give you instant access to a massive audience of potential buyers, but the downsides are just as vast. It can be hard to stand out in a crowded online platform, and rampant practices like undercutting make it difficult to get a fair price for your equipment.
- Brokers: The right broker can make the selling process completely effortless. In exchange for a fee, they’ll typically handle everything from negotiation and marketing to financing (if needed). Brokers and dealers also have established networks throughout the industry, making finding buyers much easier. If you’re not sure how to sell used equipment, working with a broker is a great first option.
- Auctions: Auctions, both online and traditional, can be a viable option for selling used industrial equipment, particularly if you’re looking for a quick sale and you’re not sure where to sell your commercial equipment. Used equipment auctions create a sense of urgency among buyers, potentially driving up the final price.
Once you’ve decided where to sell your equipment, you can start creating a listing for it. A well-crafted listing can attract buyers effortlessly. Try to add high-quality photos and videos showcasing the equipment from multiple angles. Include detailed descriptions that provide comprehensive information about the equipment’s usage history.
Logistics
Once you’ve negotiated the sale, it’s time to ship the equipment. This can be the most difficult part of learning how to sell used equipment. Depending on your choice of sales channels, it can also be the easiest.
If you’re selling your equipment through an established used machinery buyer or broker, they’ll help you sort out the logistics and even set up a consignment arrangement, if necessary.
Shipping responsibilities can vary drastically from one platform to the next if you’re selling via an online auction or a marketplace. You can make this a point of negotiation with the buyer as long as you’re transparent and forthcoming about the potential fees.
Sell Your Used Equipment Today
Figuring out where to sell your commercial equipment can be a hassle. Cut through the noise with Revelation Machinery. Our established nationwide network of buyers makes it easy to sell your equipment. Get the best possible prices for your used machinery — get started with Revelation Machinery today.