The Best Ways to Sell Your Used Industrial Equipment and Machinery

If your business has any surplus equipment or machinery that is no longer in use, it can lead to a lot of unnecessary trouble. The storage space may be overcrowded and the holding costs keep increasing over time. If you are someone who is facing this problem, we've got an excellent solution for you. Sell the used equipment that you no longer use and also reduce the holding costs of your business.

 Now that you have a solution, the most important question is, what is the best method for selling used industrial equipment? Read these points carefully to understand the options available and you will be able to figure out which one works the best for your business!

 Contact Used Equipment and Machinery Dealers

Some dealers specialize in reselling particular types of equipment and machinery. You can usually find them in the local circle and they have a network of interested customers who are looking for the kind of equipment that you want to sell. If you want to sell industrial equipment, you may approach these dealers and they will charge a fee for the service. This fee is usually 30-40 % of the sale price. The fee varies from dealer to dealer and is also subject to change based on the type of equipment you are selling, the type of buyers that are interested in it, and the location where you are selling it.

 Sign Up for an Auction

 If you want to sell industrial equipment, you may reach out to online auctioneers. They usually review the surplus items that you wish to sell and based on the approximate value of these items, you will be given a specific date and time. The auctioneer will invite their network of buyers to the auction, where they can see these items, bid on them, and then finally make a purchase.  After the highest bidder gets the item, the auctioneer may charge between 25 to 40 % of the sale price.

Send out a Request for Proposal (RFP)

If you want to sell used industrial equipment and machinery on your own, send out a Request for Proposal with detailed information about the items and a specific date for receiving offers. In this method, you are in charge of communicating with these customers and answering the questions that they may have regarding the items on sale. After you figure out the best offer and finalize the sale, you have to maintain the invoicing and payment collection and the safe removal and release of the items. You will also have to provide the necessary documentation for the financial and compliance audit process. Although this process involves no upfront fee, you will have to invest a lot of your time and energy to conduct this sale.

Choose a Reliable Online Marketplace

You can also look for an online marketplace to sell your industrial equipment. Check how reliable the platform of your choice is and whether there are any warning signs. A network of interested buyers from different places of the world is looking for a wide range of industrial equipment and machinery to purchase online. Some of these marketplaces allow you to host a sales event and sometimes you may even be offered complimentary marketing to help buyers find your items.

This is how these online marketplaces facilitate invoicing and payment methods, and they also keep a track of the transaction details and reports that you require for audits. Moreover, since this process would be online, you do not have to transport any item to a specific location before you set up a sale. You have to ship the equipment only after you and your customer approve of a sale. The fee varies based on which marketplace you choose and a few other conditions involving the selling method.