Once you’re completed with a construction project, you might find some of your heavy equipment is just sitting around. There’s no need to keep it if you no longer have a use for it, and there’s no reason to lose money on the machine, assuming it still works well. One great way to get a good return on your investment is to sell it.
Lyon Auction hosts several equipment auctions throughout the year, both in-person and online. Knowing when, where and how to sell used heavy equipment can be a daunting task. We’re here to help you prepare your equipment to be sold. Below we’ll walk you through when the best time to sell is, reasons to sell and how to go about it.
When is the best time to sell heavy equipment?
You can sell your equipment really whenever you want or need to. However, when there is a high demand for that equipment you might be able to sell it quicker and more efficiently. Currently, there is a low supply of new machines, creating a high demand for second-hand heavy equipment. Now is a good time to sell!
You might also want to consider selling your equipment when a better machine becomes available, or if your current equipment needs replacing. Some buyers will purchase used equipment at a low price with the intention of fixing it or using its parts. Even if your machine is nearing the end of its lifetime, someone may still be interested in purchasing it.
Sometimes brands will release a new model that has better features than the previous version, and many may be interested in upgrading. On the other hand, others may want to get rid of their current equipment and find an older version as they are less complicated to operate and easier to repair. When it comes time to upgrade or downgrade your equipment, there’s likely someone who will want the one you’re exchanging it for.
Why should you sell your used equipment?
If your equipment has been sitting idle, you should consider selling it. The sooner you sell the better because equipment depreciates in value over time. You should be keeping track of your machine’s use and maintenance records so that when your company no longer needs it you’re able to get a good return on your investment.
Some projects require extra heavy machinery to get the job done. Once the work is done and you find your machine underutilized, you can contemplate selling it to have more funds for other business expenses or to be able to purchase the equipment you’ll need for future projects.
How do you sell second-hand heavy machinery?
Once you’ve decided it’s time to sell your equipment, you’ll need a strategy for selling heavy machinery. You’ll want to inspect your machine as well as a buyer would, and boost its curb appeal by making some inexpensive improvements. This could be something as simple as replacing worn buttons or repainting.
Regularly cleaning your equipment is a great way to ensure it performs well and lasts as long as it should. Buyers will be more interested in your equipment if it’s clean and well taken care of. Put together your service records and usage hours, and once your machine is clean you should be good to go.
Consider selling with equipment auctions
Partnering with an equipment auctions company like Lyon Auction is the best way to get your used equipment off your hands. We have a large pool of buyers, and we know how to get you the biggest bang for your buck. If you’d like to partner with us to sell your second-hand equipment, contact us today!