If you have heavy equipment that you are no longer in need of, consider selling it at an auction to get as much for the equipment as you possibly can. When you sell a large piece of equipment at an auction, it is important to properly prepare. The following guide provides you with tips for making sure you can get the most money that you possibly can for your equipment.
Clean the Equipment Thoroughly
Before you take the equipment to the auction house, take the time to clean it thoroughly. Someone will be more interested in purchasing a piece of equipment that is clean because it will appear to have been well maintained.
Have Maintenance History Available
Take all paperwork you have for the maintenance on the piece of equipment with you to the auction house. Some auction houses will allow you to display the service history with the piece of equipment so potential bidders can see how well maintained it was.
Determine if Delivery Will be Included in the Bid
You need to talk to the auction house to determine if the delivery is the responsibility of the auction house, the bidder, or you as the seller. If the house deems you to be responsible for delivering the piece of equipment, you can establish a boundary limit as to how far you will travel to deliver the piece of equipment. It is important to realize that restricting the distance by too much will limit the amount of potential bidders who will be able to bid on the equipment.
Let the Auctioneer Know the Minimum Bid You'll Accept
If you still owe money on the piece of equipment, let the auctioneer know the minimum bid that will give you the money you need to be able to pay off the debt you have on the equipment. If the piece of equipment is worth a lot more than you owe on it, simply tell the auctioneer the minimum amount of money you want for the equipment before the auction begins.
After you have given the auctioneer all of the necessary information, all you will have to do is provide the equipment to the auction. You will need to pay a fee to the auction house for the auction. Once the auction is over, you will get your portion of the money and be able to sign over the title of the equipment to the new owner. Contact a business, such as Gary Hanna Auctions Ltd, for more information.Share