Do you have a whole bunch of heavy machinery that you want to sell? You have a few options, but it’s important to do your research first. There are different vendors who provide different level of services and costs. Here is what you need to know about heavy machinery for sale.
Say you were in town for a job and it requires you to use a bunch of machinery, and now the job is done. What do you do with your equipment? You can make some extra money and sell it to an auction! Alex Lyon & Son have auctions year around, we sell well-known brands and have a huge variety of tools! Many of the people who sell to us have no longer have uses for their equipment.
If you decide you want to sell heavy equipment to an auction the first thing you should do is contact one and understand their contract agreements. Every auction will have different terms and conditions, ask about the fees on transporting your items. If you have heavy machinery for sale be sure to find out what happens if your machinery were to get damaged while being transported or at the auction. Understanding the terms and control will help you know which company will be best for you to work with.
Another option you have is online auctions. As a seller this is an ideal option because the equipment does not leave your side until a payment is received. This means as a seller that all the responsibility is on you. It’s your job to post detailed images and reports online for potential buyers.
Why you Should Sell to an Auction
There are two different types of auctions, unreserved and reserved auctions. Some advantages of an unreserved auction is that there is an urgency, and competition which brings more potential buyers. Some things you should know about them are that you are heavily relying on the auction company and their experience, skills and market. Also, you can not guarantee the final price for the heavy machinery for sale.
At reserved auctions, you are allowed to control the minimum price this helps you from getting low-balled. This also brings more competition to the table, meaning more buyers. The main reason for reserved auctions is to make the seller feel secured that they will at least get a minimum amount of money.
Before you choose a company, be sure they have an online presence, the more outlets, the better chance your equipment will be sold. You also want to be truthful, which will result in you getting trust from buyers. Got to think about the future, one day you might need something or want to sell again. Maintain a good reputation!
When you have decided which company you want to go with, make sure to check their reviews that they are a reputable company!
At Lyon Auction we pride ourselves on being an honest company. We make the process convenient for buyers and sellers, we work with you from the beginning to the end, making it a headache free process! Contact us today for more information!