AS COVID-19 continues to change our everyday lives Lyon Auction is making major changes to the way we run our auctions. In an effort to keep everyone in the communities we hold auctions in safe, we are moving many of our auctions to be online equipment auctions.
Be sure to keep an eye on our auction calendar, we’ve made updates to our site to make sure it is easy to know whether an auction is postponed, which means we will reschedule the auction at a later date. If the auction has been moved to a virtual auction, which will take place ONLY online. Finally, the auction could be labeled as a timed auction.
Though it may not seem like it, summer is quickly approaching which means now is the best time to look for equipment. Have you been deciding between renting or buying your equipment? We will discuss the best option for your situation and give you tips on online equipment auctions.
As you may know, construction equipment is not cheap. There are benefits to both renting and buying.
If you have a short-term project that requires one special piece of equipment renting could be the best option for you.
If you want to work with the newest equipment, renting it may be more cost-effective.
Rental expenses are business expenses meaning they could be a tax write-off
The first thing to consider is how much will you be using this equipment? One thing to keep in mind is that if you plan to use the equipment more than 65 percent of the time you should most likely purchase it.
Saves money in the long run
Possibly get a return on investment when you are done with the equipment
Build your company assets
If owning your equipment sounds more like what you have in mind for your business, you should check out our online equipment auctions. We live in a time where we can get almost anything online. It is great, but there are things that you should be cautious about while shopping online.
The first being a dummy bidder, also known as a false bidder. Their main goal is to create attention for certain products to drive the price up which results in you spending more money. This is why it is important to know what equipment you want and how much it is worth. Don’t overpay!
Be mindful of how much money you are throwing out there! Don’t throw it all out at once as it may cause the attention to the scammers.
The small font that almost everyone skips over is important to read! The fine print should always be read when buying something! Follow your gut, if you think something is too good to be true it just might be the case.
Tips for online equipment auctions
Round your bids! You have a better chance to get what you want when your maximum is $508.24 instead of a flat $500.
Contact the seller and talk about the equipment, ask for the maintenance history so you know past problems or if there are any ongoing ones.
Turn the notifications on so you know right away when someone outbids you. By doing this you can place a new bid right away.
Machinery auctions are a great way you can save money on heavy equipment! At Lyon Auction, we pride ourselves on honesty! We work hard to ensure that both the buyer and seller have a headache-free process! We are there from start to finish, contact us today!