Selling Your Used Construction Equipment: Tips to Follow!

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Selling Used Equipment

If you are planning to sell some of your heavy machinery, the used market is booming right now! Thanks to the pandemic, people have now realized the benefits of buying second-hand!

Why do we say this is a good time to sell your used machines? It is because the volume of used machinery in the market has come down and the prices have shot up; therefore, it is the best time to sell your used equipment.

From the kind of equipment to the cost of transportation, many factors impact the platform you choose to sell your machine. You can sell your used machinery in a live auction, listing it on an online auction site, find a dealer who can find you a genuine buyer, or sell it to end users online or offline, you can choose a variety of methods you can sell your used construction equipment.

Tips to Follow While Selling Used Equipment

Valuate your equipment

Research the value of your equipment. This step has to be done before you put up your equipment for sale. Research and understand the market value of your machine. Ensure you find industry trends to get an essence of its worth and spend plenty of time looking up sale prices of similar models of machinery. Focus not only on the model and make, but also on minute deets like the overall condition and operating hours. A machine that is maintained well with fewer operating hours will sell for more than the same machine in fair condition with more operating hours.

Good looks pay more!

Stage your equipment clean and nice looking! Cleaner equipment that is maintained well looks newer and in better condition, which aids in making a better impression when a potential buyer finds your listing. It is also necessary to remove grime and mud so that buyers can see all the details.

Keep documents handy

Make sure you have all the paperwork in place. Proper documentation is key to making a successful sale. If required, you must be able to give proof that you are legally able to sell a particular equipment, and if any warranties are still applicable, hand over proof of these as well.

What documents do you need?

Another major part of your paperwork should be the equipment’s maintenance and service records—and they must be thorough. Include the documents of maintenance history, which should feature regular service and maintenance, as well as the history of major repairs if any. It’s also advisable to note down the number of operating hours on the machine.

How do you want to sell it?

Choose the right type of sale. There are many different types of sales that you can choose from when it comes to selling construction equipment. You will have options including private treaty sales, broker sales, and online auctions. If you are selling something less expensive, a private treaty sale may be a good option. If you expect a hard sale, or if you want to negotiate for the highest possible price, then you might want to consider a broker who can use their industry networks and knowledge to help you find potential buyers and get the best price for you.

Who are you looking to sell it to?

Ensure you are in the right marketplace. Maybe the most crucial aspect of making the sale is to know who you are selling what to. Not all heavy equipment marketplaces are the same. To maximize your reach, you need a marketplace that targets buyers from your vicinity as well as people from other parts of the world. Selling is easier when you find a buyer from the same city as yours.

Wrapping Up

There are other things to be aware of including seller fees. Some platforms charge quite a lot for you to even list your vehicle or equipment, and others enable you to list for free. You can check out sites like Gaadi Bazaar to list your used construction equipment and find genuine buyers from your city.