Article Written By: Clayton Arnold
As businesses upgrade their machinery and technology, the problem of how to dispose of used industrial equipment becomes increasingly important. Improper disposal can result in environmental harm and legal issues. However, finding the best ways to dispose of used industrial equipment can be challenging. Recycling, selling, and donating are among some of the most popular options. Factors such as the condition of the equipment, the industry it belongs to, and local regulations can influence the asset disposition process.
Let’s explore the 6 most effective ways of disposing used industrial equipment effectively.
Each way of disposing or selling industrial equipment has its benefits and drawbacks. Depending on what your business’ asset recovery goals,, the method of disposal or sale you select would vary.
An equipment trade-in is a process in which a business or organization exchanges their used equipment with a manufacturer or supplier while purchasing new equipment. In this trade-in process, the value of the old equipment is used to offset the cost of the new equipment.
The equipment trade-in process can be beneficial for businesses in several ways. Firstly, it helps businesses to save money by reducing the cost of the new equipment. Secondly, it simplifies the process of getting rid of old equipment as the manufacturer or supplier will take care of the disposal of the old equipment. Finally, it can be an eco-friendly option as the used equipment can often be refurbished and resold, reducing waste..
Benefits of trade-ins
Equipment brokers are industry professionals who know the tricks of the trade and usually have a ready buyer pool at hand. They look after the marketing aspect of your industrial equipment and can fetch you a fair market price for it. After the sale is complete, they will charge you a commission depending on the value of the industrial equipment they have sold.
Benefits of partnering with a broker
Private treaty sales are your go-to option if you have a buyer ready to purchase the industrial equipment you’re selling. While this doesn’t align readily for many sellers, you can set it up in advance by continuously auditing your industrial assets and parallel marketing for sale and disposal. This way, you can prepare a buyer in the interim while your equipment is being readied for sale.
Benefits of private treaty sales
It’s understandable that as a business, you may not have the time or resources to dedicate to a full-blown marketing operation to sell your used industrial equipment. Depending on the industry you operate in, you can look up charitable organizations that accept used equipment for the betterment of society and donate to them.
Benefits of donations
Sometimes it just isn’t possible to sell used equipment. The reasons could be many; maybe the machine has reached its end of life, or it’s beyond warranty/guarantee by the manufacturer. Sometimes buyers shy away from buying equipment that doesn’t have proper maintenance records.
Whatever the reason, sending industrial equipment for recycling is the last responsible thing you can do to dispose of used machinery properly. It’ll help you recover some scrap value from it while ensuring some parts of your machinery and equipment will get reused for other purposes.
Industrial equipment auctions are the go-to option today to sell industrial equipment, especially online. Through these types of industrial auctions, you can access a pool of interested buyers who are ready to purchase your equipment urgently. Because many you can even conduct live online auctions if needed to drive the urgency up. Because many of these industrial auctions are now online, it opens up your buyer base globally, which increases your chance of selling your industrial equipment.
Benefits of industrial equipment auctions
Based on the above assessments, industrial auctions can be an excellent channel for selling industrial equipment online without much hassle on your part. Auction partners like Aucto help you set up and conduct the entire process seamlessly. on your behalf.
It’s undeniable that online auctions have rapidly risen to the challenge of selling industrial equipment online. With efficient execution partners like Aucto, you can sell industrial assets online efficiently without having to do too much work. Get started with selling your industrial equipment today by speaking with one of our Asset Recovery experts.
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