Heavy equipment is a vital part of the construction industry as, without them, some complex tasks cannot be achieved with precision and ease. One of the best places to look for them is a heavy equipment auctions. As a construction site manager, owning heavy equipment is crucial as it contributes to increased production and sales.
Purchasing new equipment can be expensive, and most companies can't afford the high capital, especially if you consider the maintenance and repair costs. This draws many institutions towards purchasing used heavy equipment.
Used equipment is an excellent alternative if you are working on a budget as they can fulfill special applications properly. Unfortunately, many construction managers believe that buying used equipment is not a wise option due to several misconceptions about them.
Here are some common myths about used equipment.
1. Used equipment has a short lifespan
Many people assume that used construction equipment depreciates faster than new equipment, thus investing in them is a waste of resources. This is entirely false as a piece of equipment's lifespan depends on its maintenance and manufacturer.
If you use equipment to perform functions that it was not specified for, it wears and tears faster than a properly maintained one. Whether used or new, you need to use your equipment for the intended purpose and regularly maintain it to increase its durability.
2. Used equipment doesn't carry warrants
Used heavy equipment may or may not have a warranty depending on the manufacturer and the seller. Before purchasing any used equipment, you need to ask your seller about its warranty before investing in it.
Make sure you buy used equipment with guarantee coverage and adequate certifications for optimal yield.
3. Used heavy equipment is sold because it has issues
This is the most common misconception as buyers can believe that the previous owner sold their equipment because it had some irreversible problem. However, sellers have different reasons for putting their equipment up for auction. It could be because they need a newer model, or their construction needs have changed.
Now that the myths are out of the way, let’s discuss the different types of heavy equipment auctions. The most popular options are timed vs live auctions. At a timed auction, there is a window of time where people can place bids on desired items. A live auction is when the auctioneer calls bids. This can be used for online auctions as well, so if you are online be sure to turn on notifications.
During your first heavy equipment auctions, it can be intimidating. Here are some tips on how to win auctions. The most important thing to do is research! Heavy equipment auctions can be a great place to save money on your next project.
Alex Lyon and Son have used heavy equipment for sale that is in mint condition. Contact us today to get our auction calendar.