If you are in a business that deals with heavy-duty machinery, you understand how it feels when you no longer need those machines. Whether you have a single piece of used equipment or a whole facility of surplus machinery that is unused, their value depreciates over time.
One of the best ways to recover the value of those assets is to repurpose or sell them. This article will cover the essential aspects to consider while selling surplus machinery and list down different ways to sell old industrial assets.
Before discussing the different ways, you can sell industrial assets; there are certain factors and strategies to consider. These factors will ensure you sell your equipment quickly and help reduce machinery holdup costs.
Finding and Attracting the Right Buyers to Sell Surplus or used Machinery to
- Selling Channel: The right buyers can be found through the proper selling channels. Hence, choose the selling channel and method precisely to target the right buyers.
- Product Images: Capture excellent, high-definition photos and videos of the product that you wish to sell.
- Equipment Condition: Your equipment may be working fine, but it’s crucial to ensure they are properly cleaned and reconditioned.
- Market price: Analyze the market price to get the best deal for the equipment you want to sell.
Selling Your Surplus or Old Machinery Quickly
Once you have the right buyers in your radius, the next step is to sell the equipment quickly.
Online Marketplaces
Traditionally, an industrialist or a manufacturer would rely on their network users or classified newspaper ads to sell their equipment. The seller might have to get lucky to sell the product in such cases. Today, the Internet has changed everything!
You can sell your asset through online marketplaces where a network of buyers worldwide are willing to purchase different types of equipment. Online marketplaces are the most effective means to resell assets as you have a wide range of target audiences.
Liquidation
Another option would be to turn your asset over to a liquidation company rather than selling it yourself. The liquidation company will prime the buyers and put the product up for auction. Bidders will bid against each other, and you will receive the best possible deal. Again, this method saves a lot of time and effort.
4 Ways to Sell Surplus or Old Machinery
There are several online and offline options available to sell your industrial asset. Some of the popular methods include:
- Auctions – Auctions are cost-effective and the best means to sell Surplus or Old Machinery Assets, especially if you have a lot of equipment. You might have to pay 20-30℅ of the sales price to the auctioneers as their fee.
- Dealers – Selling old or surplus machinery assets through dealers can help you find the right buyers through their vast network. The broker or dealer negotiates the commission, and it varies depending on the type of equipment.
- Negotiated or Direct Sales: You can sell the asset on your own by sending out an RFP. You will be responsible for all the communication with the buyers. Though there is no upfront cost, direct sales require a considerable investment of your own time and effort.
- Invitee Only or Employee Sales: You can sell your surplus equipment through invitee only sale or to the group of buyers who already work with you. Some organizations may choose to sell these assets to their employee base. The target audience may be limited in such sales with lower returns and longer sale duration.
Wrapping Up
Selling Surplus Machinery assets or Old Industrial assets can be confusing. Knowing the ins and outs and understanding various available options can make the process easier and simpler.
Your asset represents value. Sell them quickly in the right way! We hope the article helped you gain valuable insights on how to sell surplus machinery assets.
