If you’re looking at moving some of your stock on auction, take note of these tips to maximise your sale.
Make Sure Your Machine Is In A Sellable Condition.
This doesn’t mean it always needs to be in good working order. Just make sure there is a market for it. It could also be sold as scrap metal or for parts.
However, if it is a working machine, consider spending some money on getting it in a decent condition. At the very least, give a thorough cleaning.
Some sellers choose to repair any minor damages, repaint the equipment or refurbish worn out parts.
Get Pricing Comparisons.
This is important when selling anything. Prices of used equipment fluctuate, so make sure you know what your item is worth. Take some time to explore recently past auctions or marketplace sales to find the prices of similar sold items. Understanding what your items sell for will help you make better decisions when deciding on your reserve prices.
Make It Easy To Buy Your Machine
Have copies of supporting documents and maintenance and condition reports readily available along with multiple images per unit. Be very clear on the condition of the machines and any problems. Take pictures of any defects. Allow for inspection where possible.
Choose The Right Auction Sales Platform
Plant and Machinery sales are well suited to online auctions as their documentation is readily available and verifiable and the buyers are already savvy online bidders.
Choosing to host your auction online has the added benefit of saving on transport and storage or yard costs as your machines can remain where they are until they are sold.
The global reach of online auctions widens your exposure to international markets especially if your machines are very specialised.
You’ll need to pick a platform that has access to these markets and experience in marketing to them.
For a great example of an online Plant and Machinery auction, take a look at the WBHO auction currently running on OnlineAuctions.Africa.